ANDREW LONSDALE’S PROPERTY REPORT SUMMER 2023 - 2024 Courtesy of Andrew Lonsdale & Ray White Canberra
Despite a lot more homes on the market compared to last year and interest rates a lot higher, house price growth is continuing across our capital cities. The capital city median is now getting closer to $1 million and is now significantly above the previous peak reached last year. Price growth is expected to continue for the remainder of the year. Despite 13 interest rate increases from the Reserve Bank of Australia, which have seen official rates rise by 4.25% over the 18 months, property prices have now been on the rise since early 2023. A lack of properties continues to be a challenge for buyers. We saw a jump in listings in late winter however this has failed to continue and spring has been far slower than expected for properties coming to market. In addition, potential new home buyers are being pushed into the established home market and strong rental increases are making renting far less attractive. With the pipeline of new listings diminishing as the year ends, at a time when many buyers are keen to complete their transaction before the holiday break, it’s not likely that the latest interest rate rise will stall the market. We hope you have a fantastic holiday season filled with joy and precious moments shared with your loved ones. May 2024 bring you an abundance of happiness, success and exciting opportunities. Thank you for once again being an incredible supporter and we can’t wait to come back in full swing and continue serving you in the year ahead! Andrew Lonsdale Senior Sales Agent Ray White Canberra WHAT’S HAPPENING IN YOUR MARKET?
RECENTLY SOLD BY ANDREW LONSDALE SOLD $900,000 SOLD $1,020,000 SOLD $1,509,500 SOLD $1,200,000 SOLD $1,650,000 SOLD $1,165,000 3 2 2 4 2 2 3 1 0 3 2 2 2 1 2 4 3 1 EER 2.0 EER 3.0 EER 0.5 EER 2.5 EER 4.0 EER 2.0 11 Tilden Place, Cook 7 Pring Place, Latham 6 Way Street, O’Connor 1/14 Walu Street, Aranda 43 Foveaux Street, Ainslie 7 Nullagine Street, Fisher
RECENT ACTIVITY BY ANDREW LONSDALE SOLD $490,000 SOLD $770,000 SOLD $880,000 SOLD $870,000 FOR SALE SOLD $780,000 3 1 2 3 2 1 4 2 2 1 - 2 1 1 1 3 2 1 EER 6.0 EER 2.0 EER 2.0 EER 2.5 EER 6.0 EER 3.0 6/4 Jeff Snell Crescent, Dunlop 4A Gleadow Street, Evatt 43 McKillop Circuit, Kambah 1 Roseby Street, Page 64 William Webb Drive, Evatt 9/63A Torrens Street, Braddon
TOP TIPS TO SELL YOUR HOME WELL The first step to preparing any house for the open market is getting it looking presentable. This involves de-cluttering, cleaning and home improvement work. De-cluttering Potential buyers want to see every nook and cranny in a house before they decide if it’s right for them. Pare your home back to back to its essentials and not only will rooms look bigger, the feel will be calmer. Rather than hiding everything in cupboards and wardrobes (which buyers are sure to open), consider renting a storage unit. Storage that is stuffed full to the brim gives the impression that space is lacking and hard to keep organised. Aim to keep only what is necessary during the sales period so buyers can see the true potential of your home. Likewise, remove any family photos and overtly personal items. The aim is to ensure interested buyers can imagine the home as their own, without being distracted. Cleaning Once you have a clutter-free house, take the opportunity to do a thorough clean. To sell quickly, your house needs to shine and built-up dirt and grime will detract from this. Wash walls, skirtings, windows and fittings, and steam clean carpets to brighten them up as much as possible. If all else fails, a fresh coat of paint can work wonders. Home Improvements You may not have much time for repairs and maintenance if you’d like a speedy sale. However, the more you can do, the better your house will look on open day and the more likely you are to get the right price. Try to tick off as many odd jobs as you can, including: – repairing anything broken, like handles, shutters, screens and blinds – repainting any paintwork that is dull, aging or a highly personal colour (neutrals are a winner) – replacing all burnt out or dim light bulbs with bright, energy efficient ones – revitalising scratched & worn timber flooring – swapping outdated or yellowed light fittings and switches with new styles – fixing any problematic electrical wiring SOLD Presentation Once your home is sparkling, flowing and functioning well, it’s time to consider staging. A fresh pair of eyes is beneficial because you might not be able to see where improvements can be made. The key is to view the house from a buyers perspective. How do you want them to feel about the property as they walk through? You can hire a professional stylist: an investment of $2000 in home staging commonly results in a $10,000 increase in the value of your property. If that’s outside your budget, there are other ways to ensure your home is well-presented when it counts. Ask a friend to act like a buyer and give you their thoughts. Your real estate agent is also a great resource and can offer tips on what appeals most to the target market for your home based on their industry experience.
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YOUR LOCAL AREA EXPERTS “Andrew is a great communicator and very personable. It’s his superpower! Andrew was great at explaining the process. He had a seemingly unlimited list of professionals and trades who were all very easy to work with. He also has a wealth of local knowledge. Andrew had extra opening times to accommodate the needs of prospective buyers. He doesn’t mind getting out the blower vac, has an eye for detail and is a member of your home selling or buying team from day one. When we are next in need of assistance to buy or sell a home, we will be calling Andrew first!” Libby and Neil - Ainslie “Andrew came highly recommended by a friend. From our very first meeting you could tell he was very experienced. He answered all our questions and gave some great advice on how to improve the look of our home. I would not hesitate in getting Andrew to assist us in selling again.” Peter and Karen - Spence Andrew Lonsdale Elite Sales Team Ray White Canberra 0428 486 692 andrew.lonsdale@raywhite.com Welcome to Victoria Brown Andrew welcomes Victoria to Team Lonsdale. With a degree in event management and experience in an award-winning property management team, Victoria’s diligence and strong work ethic and talent for problem-solving are noticed by all who work alongside her. Her infectious positive outlook and love of customer service will deliver the best possible experience for our clients. Victoria Brown Relationship Manager victoria.brown@raywhite.com teamlonsdale_raywhitecanberra Team Lonsdale facebook.com/andrewlonsdaleraywhitecanberra
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