Tuggeranong Market Review (02) 6296 7077 | peterblackshaw.com.au The National Folk Festival | April 17 - 21

CASE STUDY 1 16 Wedgwood Close Chisholm SOLD $520,000 AGENT Robert Peaker | 0412 726 025

DAYS ON MARKET 27

STRATEGY

Private Treaty

RESULT

This lovely 4 bedroom family residence secured a purchaser after the first open home. 10 groups inspected the home.

CASE STUDY 2 5 Burtt Crescent, Calwell SOLD $456,500 AGENTS

Alec Brown | 0406 866 007 Craig Sleeman | 0404 178 577

RESULT

This home was marketed with another agency for a four month period prior to requesting our advice. Our office marketed and sold this lovely home within 3 weeks, for more than the previous agent’s last asking price.

SELLING QUICKER BUT WISE TO LIST LOCALLY Looking at the stats over the last month, you would be forgiven for thinking we were right in the middle of a spring market, with buyer confidence remaining buoyant. Excitingly for existing sellers, the average days on market has dropped an impressive 16% (or two full weeks) on last month. However, with more than half the Tuggeranong suburbs turning over less than 30% of their stock every 30 days, sellers need to choose their agent carefully. As an office, we saw over three times the volume of sales in the last four weeks compared to the prior month, with fantastic new property options continuing to hit the market. When the real estate market is performing strongly, one of the most referenced indicators is the auction clearance rate. While it can be a useful guide, be advised it isn’t the sole measurement you should consider in trying to assess current conditions. Likewise, many agents will only ever suggest one sale method alone. Our experience is to choose the right sale method based on the property, the type of buyers your home is likely to attract, and the preference of the owners. Using only one sale method or looking at just one data point in isolation can be short sighted.

02 6296 7077 | peterblackshaw.com.au

We have also had a huge increase in the number of market updates being requested by property owners across the Tuggeranong region. It’s been a fantastic opportunity for the whole team to meet a vast number of people from the community and see just how diverse the housing designs and architecture are. If you have thought about how your home compares in today’s market we would love to hear from you to arrange an appointment with the team. Even if you aren’t looking to sell but are interested in learning more we’d be more than pleased to meet.

Robert Peaker Principal | Peter Blackshaw Tuggeranong Lic Agent Canberra South Real Estate Pty Ltd ABN 53 106 779 506

MONTHLY SALES SNAPSHOT

APRIL ‘14

Days On Market

Properties currently listed (as of 16th Mar ‘14) 425

74

Properties sold

72

Total value of sales

70

Tuggeranong Record (Kambah) $1,295,000

68

Average sale price

$502,001

66

Median sale price

$482,000

64

Highest sale price (Banks)

$845,000

62

Lowest sale price (Theodore) $325,600

60

Days on market (Tuggeranong Region average) 67

58

% of homes reaching agreement

56

LOCAL AGENCIES

OUT OF AREA AGENCIES

REGIONAL AVERAGE

95 $47,690,050

19%

Source PBRE research & allhomes.com.au. Reported date range 15th Feb ‘14 to 15th Mar ‘14

Best Overall Performing Suburbs SUBURB

ISABELLA PLAINS

MONASH

CALWELL

CHISHOLM

AVERAGE DAYS ON MARKET

18

36

30

29

% OF HOMES SELLING

57.9%

50%

42.3%

42.9%

AVERAGE SALE PRICE

$447,750

$529,150

$474,278

$518,600

PURCHASER FOUND

11

12

11

9

STILL AVAILABLE

15

15

17

16

MONTHLY RENTAL SNAPSHOT Perfect presentation is a must in this rental market. During this month, we have had great success renting homes in time frames well under the regional average. The properties which have been rented in less than 14 days, have undergone a bit of a face-lift. Simple things like fresh internal paint, new carpet and updated appliances have not only minimised the vacancy period by over 2 weeks and attracted great quality long term tenants, but have given our clients some depreciable items for this tax year.

Properties available (Tuggeranong Region as of 16th Mar ‘14) 267

Tenants can be extremely choosy in this market. With a wide variety of properties to select from online, we strongly encourage the use of a professional photographer. Whilst tenants will not choose a property to rent simply by looking online, they will certainly select properties not to rent based on poor advertising and terrible photographs. If your property has been vacant for some time contact us today for some action.

Average rental price

Properties rented (Tuggeranong Region) 133 Lowest rental price (Monash) $240p/w Highest rental price (Kambah)

DAYS ON MARKET 10 RENTED PRICE $400 p/w CONFIGURATION 3 Bed | 1 Bath | 1 Carport

$450p/w

$428p/w

Average days till rented (Region average)

36

Average days till rented (Peter Blackshaw Tuggeranong)

24

Source PBRE Research, ABS & allhomes.com.au. Date range 15th Feb ‘14 to 15th Mar ‘14

Heidi Russell Property Management Co-ordinator

GOWRIE

RESULT A neat and tidy family home renting well under the regions average days on market due to updates and improvements made by the owner. MARKETING Professional photography Premium website package LEASING CONSULTANT Marissa Ellison (02) 6296 5595

MINIMUM TIME MAXIMUM PRICE

Our intimate understanding of local needs and trends continues to place us as the most well informed local agency in Canberra. Our expert market knowledge means a superior service experience for our vendors and purchasers. Proud of our reputation as a dynamic, innovative and family orientated group, our team is constantly looking for new ways to exceed expectations. 02 6296 7077 | peterblackshaw.com.au