We’ve been in working in the Canberra real estate industry since 1958 and we’ve seen a lot in that time. We’ve sold thousands of homes and we manage hundreds of strata plans and investment properties. Being involved in all aspects of the real estate industry has given us the opportunity to meet a whole city full of interesting people. It has also given us our fair share of funny experiences.
Working in real estate, we have come to expect the unexpected. Still, there are some things we never could have predicted we would end up saying, but these are some of the answers we found ourselves having to give to some very well meaning enquiries.
Last July, we wrote about the historically low interest rates we were experiencing at the time. Well, as you are probably aware, interest rates have recently dropped even further.
The new 60 year low has already had an impact on the market, with some of Australia’s biggest lenders reporting boosts in the number of home loan applications they have been receiving.
Auctions continue to become more and more popular with sellers in Canberra, and it’s easy to see why. We’ve discussed the benefits of auctions on a number of occasions. Under the right circumstances, auctions can offer you a significant advantage when selling your home. The short, intensive marketing period, the heightened sense of urgency and the increased competition amongst buyers can all lead to a successful result.
Auctions are relatively new to the Canberra property market (if you turn the clock back 20 years or so, most of the auctions in the ACT were for distressed vendors or mortgage in possession sales), but they actually have a long and extensive history, and they are an important part of a number of different cultures.
You might have heard recently that the Federal Government is looking at selling some of its aging commercial properties. There are 6 properties currently being considered for sale, including the iconic John Gorton and Treasury buildings.
These buildings are all located on some of Canberra’s best land, inside the Parliamentary Triangle – and there is chance they might be converted into residential accommodation.