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Tuggeranong 02 6296 7077 | peterblackshaw.com.au Lanyon, ACT c. 1904-1914 Image c/o National Library of Australia pic/8441/66


MONTHLY SALES SNAPSHOT

August ‘13

“Be on the look out for more auction

Properties listed

campaigns beginning as the spring market

Properties sold in the previous month

kicks off, historically the busiest time of year

Total value of sales

for this sale method. It’s a great way to sell

Highest sale price (Gordon)

$930,000

for owners, as it keeps days on market short,

Lowest sale price (Wanniassa)

$335,000

and gives buyers the opportunity to buy their

Median sale price

$458,000

dream home even before auction day.”

Source PBRE Research & allhomes.com.au. Date range 15th July to 15th August 2013

385 98 $50,619,400

Robert Peaker Principal

Average Days on Market | Tuggeranong District

83  

Aug  2012  

55  

55  

53  

Sep  2012  

Oct  2012  

Nov  2012  

Dec  2012  

Jan  2013  

Feb  2013  

Mar  2013  

Apr  2013  

May  2013  

Jun  2013  

Jul  2013  

Aug  2013  


CASE STUDY 14 Mighell Place, Theodore SOLD $620,000

AGENTS Alec Brown & Craig Sleeman

STRATEGY

Price By Negotiation Open for inspection Saturdays & Wednesday evening

MARKETING CAMPAIGN

Professionally styled home Premium website package 11x4 collumn Canberra Times ad 1/2 page Canberra Weekly ad Large photosignboard

ACTIVITY GENERATED

32 groups inspected 4 groups submitting offers

DAYS ON MARKET

Day 6 | Reached agreement Day 22 | Unconditional exchange

BUYER ORIGIN

South East Tuggeranong (upsizing)


BUYER ACTIVITY WARMING UP FOR SPRING

Over the last four weeks, we have seen mixed results with buyer activity, some uncertain about the future of employment as we head to an election, and some with a much more stable and positive outlook for Canberra. But what we haven’t seen is a drop in buyers willing to make offers on properties. A change in family circumstances is still fuelling the majority of decisions to purchase. At the start of the month, the

Reserve Bank reduced interest rates to historically low levels. This is assisting buyers to make a decision to purchase with more confidence. With finance now available at a rate of less than 5% interest, buyers renting or still living at home are seeing this as an attractive time to purchase their own home. Entering the spring seasons, statistics show that the average days on market is traditionally lower during the spring than other times of the year. Even taking into account the large amount of properties available over this time it seems that buyer demand, and willingness to make purchasing decisions quickens

at this time, mostly due to the excitement of being settled into a new property in time for Christmas. Be on the look out for more auction campaigns beginning as the spring market kicks off, historically the busiest time of year for this sale method. It’s a great way to sell for owners, as it keeps days on market short, and gives buyers the opportunity to buy their dream home even before auction day. If you have any historical images of the Tuggeranong area that we could use on our series front page we’d love to hear from you! Please email us at photography@peterblackshawtuggeranong.com.au

Robert Peaker Principal | Peter Blackshaw Tuggeranong

02 6296 7077 | peterblackshaw.com.au


MONTHLY RENTAL SNAPSHOT The past month has seen a stable rental market with a slight increase in new tenant inquiries. Prices have eased and tenants have been negotiating with owners on new and existing tenancy agreements. We have found that some existing tenants are reluctant to commit to new fixed term leases, however we predict this will change after the federal election. With a little under 50% of the Tuggeranong population consisting of families with children under 15 years of age there has been strong interest in family sized homes close to schools and shopping areas. Our leasing consultant is continuing to work with new tenants closely, logging requirements and working to match them to the right property once one becomes available. This has dramatically reduced the vacancy period of properties under our management.

Properties available as of 16th August 2013

307

Properties rented

117

Average groups per open home

1.24

Lowest rental price (Bonython)

$240

Highest rental price (Conder)

$1000

Average days till rented by Peter Blackshaw Tuggeranong Open homes conducted by Peter Blackshaw Tuggeranong

26.3 93

Source PBRE Research, ABS & allhomes.com.au. Date range 15th July to 15th Aug 2013

Heidi Russell Property Management Coordinator

Volume of properties rented by suburb

15

13 8

Banks  

7

8

15

10 7

Bonython   Calwell   Chisholm   Conder  

5

Fadden  

7 3 Gilmore  

3 Gordon  

4

Gowrie   Greenway   Isabella   Plains  

3 0

Kambah   Macarthur   Monash  

2

5

2

Oxley   Richardson   Theodore   Wanniassa  


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


Tuggeranong Region Market Review | Aug '13