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Canberra’s Property Market Ignites – Is This Summer the Season for Smart Buyers?

As summer heats up, so does Canberra’s property market, with notable sales signaling fresh opportunities for eager buyers. Still being a buyers’ market, recent auctions show strengthening demand, creating momentum for both buyers and sellers across the region.

One such sale took place in Waramanga, where our very own Jonny Warren successfully auctioned a four-bedroom home at 2/36 Larakia Street for $950,000. After an opening bid of $850,000, the property found its new owners: a couple relocating from Sydney, seizing the chance to call Canberra home once again.

Spacious and stylish living room interior at 2/36 Larakia Street in Waramanga, showcasing Canberra’s vibrant summer property market.
2/36 Larakia Street, Waramanga, sold for $950,000.

“The couple had been living in Sydney for the past six months and were relocating back to Canberra,” Jonny said.

The stylish residence boasts flexible living spaces and sits conveniently near schools, parks, shops, and popular sports facilities, adding significant appeal.

Jonny Warren attributes the successful sale to the right pricing strategy and listening to buyer feedback.

With 124 auctions scheduled last weekend, Canberra’s auction clearance rate remained steady at 49 percent, a notable improvement from the 41 percent rate recorded at this time last year. 

The figures underscore that while buyers continue to hold sway, the market’s activity is heating up fast – setting the stage for an exciting summer in Canberra real estate.

Source: Canberra auctions: Property market heats up in time for summer