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$660,000
Median House Price (March-May 2020)
68 Days
Average Days On Market (March-May 2020)
274
Total Number of Sales (March-May 2020)
$580
Average Rent Per Week (March-May 2020)

With the bushfires and hailstorm behind us, the Tuggeranong Region was set for a bumper Autumn selling season. Buyer demand began to resurface as new properties came to the market in February. Interest rates remained at a historic low and there looked to be light at the end of the tunnel as we began to recover from a tough start to 2020.

With confidence high, the industry was left shell shocked in March as the world received emerging news from the World Health Organisation that a global pandemic was on our hands. COVID-19 was travelling fast and the Real Estate industry received its biggest shock in operations in history. With the announcement of open homes and public auctions to suspend, the industry dug deep and began to innovate quickly.

Through the introduction of technology which enabled virtual property inspections and online auctions the industry remained open for business. As the weeks progressed, further efforts to combat the impacts of COVID-19 where implemented industry wide to protect the health and safety of staff and clients. These included changes to marketing collateral and the use of hand sanitizers and masks during private inspections. Whilst the headlines of a potential market crash consumed the media, it wasn’t all dome and gloom for the Tuggeranong Region. We witnessed record suburb sale prices in Bonython and Gilmore with strong buyer enquiry throughout the peak of the pandemic.

During Autumn, there was a total of 274 property transitions which represented a 30% decrease in sales when compared to this time last year. This came as no surprise as many clients opted to ‘hold off’ during these uncertain times. The highest sale price recorded was $1,100,000 whilst the lowest sale price was $300,000. As a result of the continued buyer activity, the median house price remained steady at $660,000, which was a 3.2% increase on the median house price when compared to this time last year.

The combined efforts from everyone in the Canberra region contributed towards flattening the curve of the virus, and since we have been fortunate enough to see the easing of social distancing restrictions in the ACT. From 10 people, to 20 to 50, to now 100. We now look back at autumn, with a refreshed sense of confidence heading into Winter.

Typically, the cooler months brings less property market activity but we’re already noticing a variety of new properties coming to the market each week as sellers look to capitalise on the low levels of supply and high levels of buyer demand. Time and time again, Canberra has proven to be a safe haven for property ownership, even during a global pandemic.

Until next season, keep warm, stay safe and keep the distance. 

It is business not-quite-usual at the moment. For the most up-to-date information about our changes to operations, please visit our website https://independent.com.au/covid-19-update. While a lot has changed about the way we’re doing things, we’re committed to providing the full suite of real estate services. 

Tuggeranong suburbs by the numbers

March-May 2020

Banks:

  • Median: $524,000
  • Average days on market: 51
  • Total number of sales: 16
  • Lowest sale price: $360,000
  • Highest sale price: $820,000

 

Gordon:

  • Median: $552,500
  • Average days on market: 52
  • Total number of sales: 30
  • Lowest sale price: $406,000
  • Highest sale price: $1,075,000

Chisholm:

  • Median: $638,000
  • Average days on market: 31
  • Total number of sales: 11
  • Lowest sale price: $385,000
  • Highest sale price: $762,000

Kambah:

  • Median: $635,000
  • Average days on market: 37
  • Total number of sales: 53
  • Lowest sale price: $329,000
  • Highest sale price: $1,100,000

Bonython:

  • Median: $601,000
  • Average days on market: 58
  • Total number of sales: 14
  • Lowest sale price: $300,000
  • Highest sale price: $1,023,000

Oxley:

  • Median: $552,500
  • Average days on market: 48
  • Total number of sales: 4
  • Lowest sale price: $440,000
  • Highest sale price: $821,000

Monash:

  • Median: $687,500
  • Average days on market: 75
  • Total number of sales: 14
  • Lowest sale price: $521,000
  • Highest sale price: $843,750

Wanniassa:

  • Median: $582,500
  • Average days on market: 45
  • Total number of sales: 18
  • Lowest sale price: $430,000
  • Highest sale price: $1,020,000

Fadden:

  • Median: $910,000
  • Average days on market: 69
  • Total number of sales: 11
  • Lowest sale price: $670,000
  • Highest sale price: $960,000

Theodore:

  • Median: $613,500
  • Average days on market: 45
  • Total number of sales: 12
  • Lowest sale price: $410,000
  • Highest sale price: $750,000

Gowrie:

  • Median: $692,500
  • Average days on market:  28
  • Total number of sales: 16
  • Lowest sale price: $555,000
  • Highest sale price: $830,000

Isabella Plains:

  • Median: $622,500
  • Average days on market: 41
  • Total number of sales: 8
  • Lowest sale price: $363,000
  • Highest sale price: $760,000

Richardson:

  • Median: $635,000
  • Average days on market: 37
  • Total number of sales: 7
  • Lowest sale price: $500,000
  • Highest sale price: $700,000

Gilmore:

  • Median: $575,833
  • Average days on market: 29
  • Total number of sales:  6
  • Lowest sale price: $505,000
  • Highest sale price: $740,000

Conder:

  • Median: $647,500
  • Average days on market: 53
  • Total number of sales: 22
  • Lowest sale price: $390,000
  • Highest sale price: $1,065,000

Greenway:

  • Median: $417,000
  • Average days on market: 105
  • Total number of sales: 13
  • Lowest sale price: $368,000
  • Highest sale price: $750,000

Calwell:

  • Median: $588,250
  • Average days on market: 66
  • Total number of sales: 16
  • Lowest sale price: $395,000
  • Highest sale price: $848,000

Macarthur:

  • Median: $680,000
  • Average days on market: 94
  • Total number of sales: 4
  • Lowest sale price: $570,000
  • Highest sale price: $767,000
Cheers Will. Great service from Will and Obi. Very happy with the service received.
Michael & Emily
Eliana delivered an outstanding service to us and was a pleasure to work with on purchasing our families new house.
Nathan & Lidia
Jacob is an experienced agent in real estate business with excellent manners to provide customer satisfaction.
Atul & Monika
Nathan was great to deal with and provided ongoing support and knowledge over an extended period for this sale process
Ross & Patricia
Absolutely Wonderful Eliana helped us in more ways than imaginable, for our first time selling El was beyond helpful in a difficult time.
Jackie, Kyle & Scott

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