Key Trends & Expert Analysis

Canberra Market Sees Strong Start to February

The property market in Canberra has kicked off February with a strong performance. In the first ten days of the month, 20 properties have gone under offer, bringing the total to 40 when including January carryovers. Notably, these were not auction sales but private treaty transactions, reflecting steady buyer activity.

Meet Our New Team Member: Adam Heading

We’re excited to welcome Adam Heading to the team! Adam has been running Heading Homes for the past five years in Queanbeyan, and we’re thrilled to have him joining us full-time in the coming months. His experience and industry knowledge will be a fantastic addition to the team.

What’s Happening with Interest Rates?

NAB has recently cut interest rates by 0.25%, a move that increases borrowing capacity by approximately $20,000 for individuals earning $80,000 per year. While this change gives buyers more confidence, we’re unlikely to see immediate price jumps. Instead, it’s fostering a sense of stability, with many buyers factoring in further rate cuts when making offers.

ACT Property Listings: The Highest Since 2019

According to SQM Research, there are currently 4,304 active property listings in the ACT, with 2,542 of them on the market for over two months. This is the highest stock level since mid-2019.

Key insights:
✔️ A 20% increase in stock levels occurred after the October long weekend in 2024.
✔️ Nearly 60% of ACT properties have been on the market for 60+ days, reflecting market stagnation.
✔️ The Christmas period slowdown contributed to the extended listing times, but sellers should take note of this trend.

Should You Sell via Auction or Private Treaty?

With more stock sitting on the market, many sellers are opting for private treaty sales instead of auctions. However, this might not be the best approach.

📌 Auction clearance rates sit at 60% – while private treaty sales are seeing a lower success rate within the first 60 days.
📌 Prolonged listings can result in price reductions and decreased buyer interest.
📌 Sellers need to carefully consider their strategy to avoid long market exposure.

Key Takeaways for Buyers and Sellers

✅ Buyers remain active, with February showing strong interest.
✅ Interest rate cuts are boosting buyer confidence, though prices remain stable.
✅ Rising stock levels mean sellers should price and market strategically.
✅ Auctions remain a viable option, given lower private treaty success rates.

Final Thoughts

The Canberra property market continues to evolve, with both challenges and opportunities for buyers and sellers alike. Staying informed and working with experienced agents will be key to navigating the current landscape.

📅 Stay tuned for next week’s market wrap!