Two years after a big leap of faith, Jonny Warren has officially marked his presence with the establishment of the Jonny Warren Properties headquarters. The start of this venture was a mix of timely career progression and the unforeseen challenges of the COVID pandemic; a period that tested and ultimately strengthened the resolve of many businesses, including Jonny’s.

Today, the company couldn’t be in a better position. Jonny Warren Properties has recently celebrated the opening of a new office located along Geraldton Crescent in Fyshwick.

“It’s in between Anaconda and Baby Bunting facing Canberra Avenue. It’s a big orange building, you won’t miss it!” Jonny Warren remarks about their new office.

This expansion on December 8th 2023 reflects the company’s impressive growth, having outperformed its own sales records in the last three months compared to the first half of the year.

Jonny, alongside his wife Bel, has fostered a unique culture within their team, emphasizing a family-friendly and people-centric approach. This belief is deeply ingrained in their operations, resonating well with both their staff and clientele. 

The agency’s distinct marketing strategy, under the slogan “Every home tells a story”, is a heartfelt tribute to advice Jonny received from his late-mother at the beginning of his career. This approach includes producing engaging videos that present properties from the vendor’s viewpoint, paired with Jonny’’s and his team’s energetic and captivating personalities. This innovative method aims to reshape the traditional perspectives on property transactions.

For Jonny, the priority remains client-centric, focusing on delivering the best outcomes for them rather than solely pursuing financial gains.

“Our values are based on caring for people,” he states. “I say to all my team, ‘If you chase money, then you’re in it for all the wrong reasons. If you want to do well by your clients and help them out, then that’s how you’ll get rewarded.’”

This philosophy has not hindered the company’s financial success. On the contrary, it has contributed to a loyal client base and a small community, as evidenced by the positive reviews on their website. 

“We’re a small business and put in long hours. But we’re starting to see the benefits of the business growing and we will be expanding further in 2024,” he says. “It’s so pleasing to sit back and reflect on where I was and where I am now, the systems I’ve put in place to [achieve success]…and now we’ve got our own place we can call home

“With my wife in the business, that’s where it has really started to change. She is there for the staff and is a great support to us all. She is simply amazing.”.

Jonny Warren Properties, services the Canberra area and its surrounds and is also a huge part of the fabric of their community. Their contributions include a substantial $60,000 donation to Bosom Buddies and ongoing support to local sports teams like the Canberra Raiders and various junior clubs. This involvement underscores their dedication to giving back to the community that has been integral to their success.

Source

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Despite a slowdown in clearance rates, Canberra’s real estate market is witnessing a notable trend with properties achieving record prices after auction. A prime example is a recently renovated, four-bedroom home in the reputable suburb of Holder.

Setting a new suburb record for the area, 3 Lines Street, Holder sold post-auction for $1.64 million. Jonny Warren, from Jonny Warren Properties, shared the following insights about the property’s market performance.

“It garnered substantial interest, with over 8000 online views, 100 enquiries, 56 inspections, and eight registered bidders at the auction. The property originally passed in at the auction, at $1.58 million, however following the auction, the sale price eventually surpassed initial expectations.”

“It was an emotional campaign with the seller having owned the property for 26 years, transforming the residence from a modest house into their dream family home.”

“New buyers came out of the woodwork immediately after the auction, so it was a great result for all concerned, with the home selling to a young couple who were relocating to be closer to family and who were also expecting a child in January.”

“The feedback for the home during the campaign was interest at around the $1.5 million to $1.6 million mark, but two buyers came out after the auction and began a bidding war, which pushed the price up.”

“Holder is an underrated suburb and becoming a really sought-after area so the strong result the property achieved wasn’t really a surprise.” Jonny shared.

The property is situated on a 1076-square-meter lot, and has been thoughtfully updated over the years for sustainable living whilst offering ample space for family living and entertainment.

The transition of this house into a highly sought-after property reflects Holder’s growing appeal in Canberra’s real estate landscape for a multitude of buyers.

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In an interview with Jonny Warren of Jonny Warren Properties, insights were gathered on the latest trends in Canberra’s property market, which is showing signs of recovery after a prolonged downturn. The city’s housing prices are gradually ascending towards their previous peak levels, marking an end to what has been the most severe market slump in its history.

The Domain House Price Report indicates a positive shift in Canberra’s housing market. For the first time since mid-2022, the September quarter witnessed a price increase, signaling the onset of recovery. Canberra’s median house price now stands at $1,042,730, reflecting a 1.8% rise from the previous quarter.

Dr. Nicola Powell, Domain’s chief of research and economics, confirms Canberra’s market revival. She predicts continued price growth, albeit at a moderate pace compared to the city’s historical quarterly average growth of 3.1%.

The report also notes that the combined national property market has entered its third and second quarters of growth for houses and units, respectively. Despite recent gains, Canberra’s housing market, which was the last capital city to hit a price trough in June 2023, is still 11.3% below its peak. This gap is more significant than in other capital cities.

Dr. Powell elaborates on the unique market conditions in Canberra, marked by a dramatic rise during the pandemic followed by a significant downturn. This cycle, she explains, is the most extreme Canberra has ever experienced.

While house prices are on the upswing, unit prices have seen a slight decline of 0.6% in the September quarter, with the median unit price now 7% below its June 2022 peak. Nonetheless, Powell notes that the decline has softened compared to previous quarters.

Powell also highlights the improvement in Canberra’s listings environment compared to other cities, with total supply currently above the five-year average for this period.

Jonny Warren emphasizes that the increased stock levels have created a buyer’s market in Canberra. He notes the abundance of choices for buyers, leading to longer selling times for properties and a lack of urgency among buyers. Warren observes that sellers are even resorting to price reductions to expedite sales.

Will Honey from The Property Collective offers a different perspective, suggesting that the Canberra market is stabilizing rather than actively rising. He points out the better performance of inner suburbs compared to outer ones and notes a greater market certainty now, particularly with more stable interest rates. Honey believes that both buyers and sellers are gaining confidence, with sellers becoming more realistic about pricing compared to the peak market values. He anticipates interesting developments in the coming quarter.

Source: Allhomes

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Key insights came from Jonny Warren, who shared his experience with a property at 3 Lines Street in Holder. The auction saw eight interested bidders and spirited competition, pushing the price to $1.58 million.

“With an opening bid of $1 million, spirited bidding pushed the price to $1.58 million, where the property was passed in,” he said. We’re expecting the home to sell within the next day or so, with the asking price set at about $1.65 million. We have interest from an overseas buyer who placed the final bid and two local families who are still interested in purchasing the home.”

This property, a renovated four-bedroom house on a 1076 square metre block, symbolises the current state of the market: high interest but also a degree of caution among buyers. Similarly, in Latham, a turnkey three-bedroom home attracted attention but passed in at $825,000, the same figure as its asking price. The property, appealing to first-home buyers and investors alike, failed to cross the bidding threshold.

The trend continued in Coombs, where a three-bedroom townhouse, perfect for young couples or small families, was withdrawn from auction and is now listed with an asking price above $700,000. Despite its excellent condition and attractive features, the property exemplifies the current hesitation in the market.

In a contrasting narrative, a family home in Kambah, on the market for the first time in five decades, found success under the hammer, selling for $850,000 to a first-home buyer. The well-presented three-bedroom home on a 791 square metre landscaped block stands out as a beacon of success in a market marked by uncertainty and selective buying.

These varied outcomes at Canberra’s auctions paint a picture of a market in flux. High interest and competitive bidding in some quarters are juxtaposed against a backdrop of caution and strategic restraint in others. The insights from Jonny Warren and others in the real estate sector underscore this dynamic, where even properties with high bidder turnout are not guaranteed to meet sellers’ expectations.

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