ANDREW LONSDALE’S PROPERTY REPORT SPRING 2024 Courtesy of Andrew Lonsdale & Ray White Canberra
The property market continues to grapple with affordability issues, driven by elevated financing costs and persistent price growth across most sectors. However, the landscape may be poised for change. The past month witnessed diverse price growth across Australian property markets, further accentuating nationwide value disparities. All cities experienced increases in mean house prices, though the pace varied significantly. Canberra showed the most modest gains, just a 0.2 per cent increase over the last month. The annual growth rate remained subdued at 1.5 per cent, indicating a more tempered market than some other capital cities. A significant development in the broader economic landscape is the headline inflation rate which fell to 2.8 per cent in the third quarter of the year - a 3.5-year low. Whilst that sits within the Reserve Bank’s target inflation range of 2-3 per cent, the RBA is still not expected to cut interest rates before the end of the year. February or April next year are seen as the more likely timing for a move by the central bank. As economic confidence builds, we anticipate a surge in listing activities, with property owners who have been reluctant to sell now preparing to enter the market. This potential increase in supply could reshape market dynamics, offering more choices to prospective buyers who have been waiting for more favourable conditions. Overall, this transition signals a possible end to the market’s holding pattern and the beginning of a more dynamic property landscape in the coming months. Buying, selling, investing - be it your first home or upgrading - I invite you to get in touch and experience the Ray White difference my team and I can offer you. Andrew Lonsdale Senior Sales Agent Ray White Canberra WHAT’S HAPPENING IN YOUR MARKET?
RECENTLY SOLD BY ANDREW LONSDALE SOLD $1,000,000 SOLD $1,240,000 SOLD $575,000 SOLD $1,960,000 SOLD $2,010,000 SOLD $630,000 4 2 2 4 2 2 5 2 2 2 2 2 3 1 1 4 2 2 EER 5.0 EER 1.5 EER 4.5 EER 2.5 EER 4.0 EER 6.0 3/29 Thynne Street, Bruce 14 Morton Street, Weetangera 12/36 Cromwell Circuit, Isabella Plains 54 Mirning Crescent, Aranda 91 Warragamba Avenue, Duffy 204/15 Irving Street, Phillip
RECENT SOLD BY ANDREW LONSDALE SOLD $1,325,000 SOLD $548,000 SOLD $1,325,000 SOLD $1,405,000 SOLD – PRICE UNDISCLOSED FOR SALE 4 3 2 1 1 1 5 3 2 3 1 1 5 3 2 5 2 1 EER 1.5 EER 1.5 EER 3.5 EER 0.5 EER 1.5 EER 6.0 64 Alroy Circuit, Hawker 1/24 Bindaga Place, Aranda 21 Packer Street, Weetangera 12 Juwin Street, Aranda 72 Barada Crescent, Aranda 12/12 Jondol Place, Isabella Plains
Summer brings with it the threat of bushfires. The better and earlier you can prepare a property for bushfires, the higher the chance it stands of resisting and surviving. To improve your odds, here are seven precautionary measures you can take: 1 Keep your garden tidy Mow the grass regularly and don’t forget to remove the cuttings. Clean up fallen leaves and branches, and trim overhanging trees and shrubs. Clear the area around your home and remove any material that can burn, such as mulch, a woodpile or rubbish. 2 Clear your gutters of leaves and branches Leaves and twigs are highly flammable. If your gutters are clean, then the risk of ignition during a bushfire will be considerably diminished. Check and remove all debris from your gutters regularly. If you can, install fire-resistant gutter guards. 3 Seal your house against embers Most homes ignite when sparks or burning embers blow under tiles and start fires in roofing timbers or accumulated litter. Look for and fix or replace any missing or faulty tiles. Seal all gaps, cracks and holes in your roof and walls. Compressed mineral wool insulation is cheap and effective for this. 4 Check and update your smoke alarms The legislation on smoke alarms varies from one state to another, so check what applies to you. No matter the rules, play it safe and equip your home with plenty of smoke alarms as they could save the lives of you and your family. Check them once a month and replace the batteries every year. 7 THINGS TO PREP YOUR HOME FOR BUSHFIRE SEASON 1 2 3 4 5 6 7 5 Prepare yourself with a bushfire plan Before it comes to the worst and panic sets in, make sure that you know how to act in case of an emergency. A survival bushfire plan details every step to take. Try to think about all the choices you would need to make in the event of a bushfire, and decide what the plan is for each situation you would face. 6 Understand bushfire danger ratings and stay alert It is essential that you know and understand bushfire danger ratings. Monitor the conditions in your area, stay alert and be ready to leave if required. You can download apps such as “Fires Near Me” and set up watch zones, listen to the radio, or simply watch the news. 7 Check your home and contents insurance Even if it’s not mandatory, take out a policy that will protect you in case of bushfires. If worst comes to worst, you might need to provide supporting documents when submitting a claim. Take photos of your house and belongings, and scan all your house-related invoices or paperwork. Save everything in the cloud and keep the originals in a safe place, easy to access in case of fire.
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YOUR LOCAL AREA EXPERTS A top-notch agent “I couldn’t be more pleased with the experience of selling my home through Andrew. His understanding of the market and the strategic yet pragmatic approach impressed me. Andrew advised on how to prepare my home for sale, from staging tips to repairs that would boost its appeal. Andrew was highly communicative and skilfully managed negotiations with potential buyers, always keeping my best interests in mind. If you’re looking for a top-notch agent to sell your home, I highly recommend Andrew!” Mark – Bruce I can’t recommend him highly enough. “Andrew did a fabulous job selling my house. He always let me know what was going on, right from day one getting the property ready for sale, right through to settlement handover. He is a very genuine and kind person and went way above and beyond to help me through the process and to get a great price. I can’t recommend him highly enough. And he has a great team backing him up!” Peter – Weetangera Andrew Lonsdale Elite Sales Team Ray White Canberra 0428 486 692 andrew.lonsdale@raywhite.com teamlonsdale_raywhitecanberra Team Lonsdale facebook.com/andrewlonsdaleraywhitecanberra
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