Interest Rate Relief Fuels Buyer Confidence in Canberra
Canberra’s auction clearance rates have surged in recent weeks, showing a shift in market activity compared to last year. With buyer confidence growing, the latest data points to a more active property market, especially in key districts.
9 Wassell Place in Macgregor - Sold at Auction for $895,000
According to Domain research, the ACT recorded a six-month high in February, reaching a clearance rate of 59.9 percent. Some areas performed even better, with Gungahlin achieving a 66.7 percent clearance rate, while Tuggeranong led with 67.1 per cent, marking a 19.8 percent annual increase.
As stated by Jonny Warren, more certainty in the market has played a crucial role in this uptake.
“There’s typically a spike after the Christmas period, but rumours of an interest rate cut had already created confidence and increased buyer activity,” Jonny said.
3 WIlton Place in Monash - Sold Prior to Auction for $915,000
We have experienced this first-hand. “We’ve had a 100 per cent clearance rate at our office this year, with a number of properties selling within days of being listed,” Jonny added.
The strongest demand has been for more affordable properties, as buyers fear missing out. This rush has driven sales and kept properties on the market for a shorter period.
However, not all regions are seeing the same level of success. North Canberra recorded a clearance rate of 40 per cent in February, while Queanbeyan trailed at just 29.2 per cent.
Need Help Getting Started?
Despite some slower areas, the overall trend indicates growing buyer confidence, supported by the easing interest rates. If you’re thinking of buying or selling, now could be the right time to make a move in Canberra’s property market.
Get in touch with Jonny Warren Properties—we’d love to help.
📞 0438 867 822
📩 jonny@jonnywarren.com.au
💻 www.jonnywarren.com.au
Source: Interest rate relief spurs Canberra’s clearance rates