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Last week was a big one in Canberra real estate. Suburb records for Holt and Page have been smashed out of the park! 13 Luehmann Street Page sold at a whopping $67,5000 above the previous record, which was set in January 2019 and 41 Cavill Close Holt sold at $38,000 above the previous record. What is truly remarkable through, is how it sold. If you’re picturing a group of buyers standing on the driveway waving paddles, think again! This four-bedroom home sold on an online auction on AuctionNow, with bidders waving online paddles from their own living rooms!
Heading into an unprecedented period, Nicole, Director of Impressions Property Styling said jobs are still rolling in! Serious buyers tend to spend a few months looking for a new home and are very motivated to find the perfect place for their family. Canberra clearance rates are soaring above the rest of Australia, sitting at 47%. While this is down from February, Nicole, who has been in the real estate industry for over a decade, said a drop in real estate market is normal as we head toward winter. Reflecting on April last year, she said the circumstances are very different, but winter has always been the season for serious buyers. Serious buyers are still looking and buying, and new houses are going on the market every day! This unprecedented period may be the time for serious real estate. Open homes have been replaced by private viewing, Samuel Thompson from LJ Hooker Manuka said perspective buyers have a few more hoops to jump through in order to get a look inside. Perspective buyers must have viewed the 3D walk through of a property, done a drive by to see the area and have approved finances, so only people who are genuinely interested in your home will come to have a look. As auctions have moved online, most have been restricted to include only registered bidders. Real estate agents are adapting quickly to this change of scenery and expect clearance rates to rise in the coming weeks as buyers becomes comfortable with these new types of auctions.
If you’re considering putting your home on the market Tom Beinke from Hayman Partners says there are a few things you can do to give yourself an edge in the market. “Now more than ever we are using videos to display properties. In a time like this styling and videos are so so important because everyone is on their phones. Now more than ever people are online so as real estate agents we have got to adapt and display them better online so viewers can get a good feel for [the property].” If you’re selling for the first time, have a look at our series “selling your home in 2020” to learn how to get started.
