ANDREW LONSDALE’S PROPERTY REPORT WINTER 2024 Courtesy of Andrew Lonsdale & Ray White Canberra
Australian residential property values have continued their upward trend in recent months, though June saw a deceleration with both houses and units recording a modest 0.2 per cent monthly increase. The ongoing scarcity of available properties and limited listings has intensified competition, driving up prices in both capital cities and regional markets. The recent inflation surge has shifted discussions from potential interest rate cuts to possible increases, with some speculating a hike as early as August. This shift is expected to temper property listings and sales volumes, as higher borrowing costs may further strain affordability and cause delays in purchasing decisions. Over the past year, house prices have experienced a significant 9.5 per cent increase, bringing the national median to $886,818. Updated results for May have shown listing numbers trending upwards, outpacing results seen in 2023 and 2022. However, our preliminary June data indicates strong declines which are likely to be further spurred on by recent inflation results, reigniting discussion surrounding an increase in interest rates for this year. This changing sentiment anticipates a further dampening effect on listing levels as both buyers and sellers adopt a “wait and see” approach. This cautious stance is particularly pronounced given the robust price growth observed across the country. Financing continues to be a key concern for many potential buyers. Interest rate changes play a crucial role in shaping their decisions to commit to property purchases. However, if the current trend of high price growth persists, we might see an increase in buyers choosing to secure properties earlier, potentially leading to higher participation rates at auctions. 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 $780,000 SOLD $780,000 SOLD $880,000 SOLD $970,000 SOLD $1,160,000 SOLD $1,200,000 3 2 1 3 2 2 4 2 2 3 1 2 4 2 2 4 3 2 EER 3 EER 5 EER 2.5 EER 1.5 EER 5 EER 1 4A Gleadow Street, Evatt 32 Bourne Street, Cook 9 Southwell Street, Weetangera 83 Lionel Rose Street, Holt 48 Redfern Street, Cook 43 Biffin Street, Cook
RECENT SOLD BY ANDREW LONSDALE SOLD $1,310,000 SOLD $1,325,000 SOLD $1,650,000 PRICE UNDISCLOSED PRICE UNDISCLOSED FOR SALE 4 2 4 5 2 2 3 1 3 1 1 1 4 2 1 3 1 2 EER 5 EER 1.5 EER 4.5 EER 2 EER 6 EER 4.5 26 Abernethy Street, Weetangera 3 Wangara Street, Aranda 14 Amaroo Street, Reid 10 Bennet Street, Spence 2 Brooks Street, Macquarie 103/241 Northbourne Avenue, Lyneham
The current market is driving the popularity of auction sales, so it’s important to know how to maximise your chances of winning your dream property when it comes up for sale. Pick your position Where you place yourself will impact how much you can see of the other bidders, and vice versa. You can guarantee that they’ll be watching your body language, so ensure you can do the same. Signs of hesitation, or long chats with agents, will help you establish if your opponents are close to dropping out, or if they’re in for the long haul. You should also keep an eye on the auctioneer. Ultimately it’s their job to maximise the return for the client. By watching their interactions you can gain an idea of how the auction is going from the seller’s point of view – whether the reserve price is about to be met or if the property is likely to be passed in. Remember your budget If you think you’re likely to get carried away by the high octane environment, there are a couple of simple tips that can bring you back to earth: • Write your budget on your hand – small enough that competitors can’t read it! • Bring a trusted companion – having a realestate agent bid on your behalf is a good way to ensure that your pre-approved plans are stuck to, but this could also be a friend or family member who you can trust to intervene if they see you getting out of your depth. Have a bidding strategy Walking into an auction without a plan is a recipe for disaster. Do you plan to bid early to show your rivals that you mean business, or do you prefer to wait and see what the field has to offer before entering the fray? Once you have decided what works for you, stick to it. Above anything it’s important to bid with confidence – indecisiveness will be picked up by your rivals. Think about the figures It’s tempting to always bid in round numbers but given auctions can involve a lot of mind games, going against convention can throw your rivals off their game. If an opponent has delivered what they think is a killer blow with a new round number bid, going just over this can simultaneously demoralise them and put you back on top without breaking the bank. Don’t overuse it though - you want to keep the other bidders on their toes, so unpredictability is the order of the day. With these tips in mind, you should be one step closer to securing that perfect property come auction day. If you want to talk further about auctions with a team who knows what it takes to win, get in touch with Ray White today. BID 4 TIPS FOR WINNING AT AUCTION
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YOUR LOCAL AREA EXPERTS “I found Andrew to be an excellent agent for our property. He has a great knowledge of the area and was willing to engage in communication at all stages of the marketing. His professionalism is outstanding throughout the process as he goes above and beyond to ensure our property was the best it could be for the market. I would recommend Andrew for any property sales and will happily engage him again.” Margie – Weetangera “Andrew brings a strong relational-based ethic that sets him apart from other realtors throughout Canberra. His attention to detail, constant communication with us as a seller, and his neverending strive to find as many interested buyers as possible provided us with complete confidence that Andrew was the right choice to sell our home. Andrew is the polar opposite to the European car driving, slick suited salesman that you see at a lot of open homes these days. Rocking up in his modest Hilux in a simple suit and tie, he’s the salesman you just want to go have a beer with. Andrew and his team walked us through the entire process step-by-step, making what can sometimes be a very complex process seem like a walk in the park. We couldn’t be happier with our end result. We will be back to sell again with Andrew and also look forward to seeing him at open homes we may attend.” Johno and Jayne - Spence Andrew Lonsdale Elite Sales Team Ray White Canberra 0428 486 692 andrew.lonsdale@raywhite.com Victoria is adept at planning and executing highly effective sales campaigns. She is described by those who work with her as a sensible, sensitive human who is conscientious and hardworking. Observant and ever practical, Victoria does have a weakness: water bottles. After amassing scores of them over many years of competitive netball, she’s always on the lookout in homes for new ideas on ways in which to store them! Victoria Brown Sales Consultant 0477 705 919 victoria.brown@raywhite.com teamlonsdale_raywhitecanberra Team Lonsdale facebook.com/andrewlonsdaleraywhitecanberra
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