Working out whether to jump onto the property ladder or continue renting can be a confusing decision. Especially when housing affordability is such a huge issue in Australia.
Luckily, the ACT annual budget which was handed down earlier this year has changed the game for new home buyers—and heartbeats are racing. Continue reading
The life of a sales agent is a busy one, but what do they really do all day?
As buyers and sellers, we only see the calm, unflappable exterior as our agents welcome us to sparkling open homes and walk us through the paperwork. Just like ducks, though, there’s a lot of frantic action going on out of sight to keep things moving along.
We asked Eliana Rojas-Terry, sales agent with Independent Property Group Tuggeranong and definitely not a duck, to share two days from her diary with us so we can see what really goes on under the surface.
I’m up around 4.30am most mornings to go to the gym before starting my day. Today I let myself sleep in until 4.45am, but then it’s all go. I don’t drink coffee, so the gym is the thing that gives me enough energy during the day. Well, that and the fact that I enjoy my job!
All the agents get together at our favourite Tuggeranong cafe for breakfast. Saturday is usually our busiest day, so it’s a chance to pump ourselves up a bit. We talk about what we have on, how many opens we might have and if anything’s closing. It’s a real part of our team culture.
I have three open homes today, so I have to get moving. The first one is at 9.30am, but I try and get there about 20 minutes earlier. That gives me a chance to check that the house is ready and primp it a little bit.
Right now, I swing past the local florist. I always bring a bunch of flowers to put on the table for each open home. It pretties the place up, and they’re a nice thank you for the owners for all their effort in getting the place ready. Continue reading
In the early 1980s, auctions in Canberra were almost unheard of. Fast forward 30 years to 2012 when Canberra had 600. Within five years the number of auctions quadrupled with 2,500 auctions held in 2017.
This past weekend alone, 75 auctions were held across the city. It’s expected the number of auctions in the ACT will keep growing as local buyers and sellers continue to embrace this method of sale.
For some, auctions can seem daunting and bring on a feeling of anxiety and nerves. But according to John Warren, Sales Agent at Independent Property Group Inner North & City, under the right circumstance, auctions can offer significant advantages when selling your home, which is why more and more Canberra property owners are getting on board.
What is it that makes auctions so lucrative? John shares his top three benefits to selling at auction:
- Create competition
An auction creates a competitive bidding environment. If more than one buyer really wants your property they will start bidding higher, so they don’t miss out. This is especially true if your property has unique or hard to find features that buyers are looking for.
John says the more invested a buyer is in a property, the more competitive they are. When a buyer is competitive, they are willing to bid and ultimately pay more to secure the home.
“Throughout the auction campaign, an agent spends a lot of time qualifying buyers. We focus our attention on the buyers who are showing the most interest, communicating with them throughout the campaign and educating them on the sales contract. We provide them with all the information they need so they are prepared to bid come auction day.”
John believes focussing efforts on these buyers ensures a competitive auction as they become more emotionally connected to a property and willing to bid higher to secure it. Competitive bidding amongst potential buyers means that the selling price often exceeds the expected value of the property, maximising profit for the seller.
The Federal Budget was handed down on Tuesday 8 May 2018. As always, it covered a wide range of topics from income tax offsets to spending on infrastructure. And as always, it contains a multitude of measures over almost a thousand pages that few people will ever read in their entirety. Won’t someone think of the forests?
So that you don’t have to wade through all 342 pages (and that’s just the first paper!), we’ve summarised the ways in which this budget will affect the property market.
There are very few direct announcements that affect housing, but several longer term measures that are worth knowing about. These are aimed at increasing individual income, freeing up vacant land and improving infrastructure, all of which could benefit the Canberra property market.
Whether you’re looking to buy, sell, invest or simply stay put, read on to find out the changes that will affect you. Continue reading
The humble suburban shop was once the destination for early morning milk runs, newspaper pick-ups and ice creams after school. But with the rise of large shopping centres boasting huge supermarkets and retailers, the little corner store seemed certain to disappear.
Headlines welcomed the ‘death of Canberra’s suburbs’ and speedy growth in housing around the inner north and south painted a foregone conclusion, but Canberra isn’t ready to let go of their local suburban shops just yet.
Revitalisation efforts, which typically see small businesses move into government-owned shops, has taken on many shapes in Canberra. Cafes and small restaurants remain a favourite, but community spaces and galleries are also on the rise across the city.
The ACT Government appears to understand the importance of revitalising our suburban shops, working to upgrade 20 of the 66 shops across the city in the last decade, according to government data provided to the Canberra Times.
According to Mark Larmer of Independent Property Group, growth and renewal of a suburb has plenty of benefits for buyers and homeowners.
“For many buyers, lifestyle is just as important as the property itself. People want the benefit of living in an established suburb – the large backyard, access to public transport, good schools. But they also want the convenience of being close to cafes and shops.
The more a suburb has to offer the more attractive it is to buyers. Properties become more valuable and homeowners benefit from an increase in demand. All residents get to enjoy the perks of revitalisation, it’s a win for everyone”.
Having limited ourselves to sipping long blacks on Lonsdale Street for too long, we set out to venture across Canberra and discover more about the suburbs leading the way in revitalisation. Continue reading