Residential agents are reporting growing interest among homebuyers in the Tuggeranong property market and record-breaking sale prices have become commonplace. Andrew Curren, principal at LJ Hooker Tuggeranong, says the demand for properties is palpable at different open houses.
“They’ve been running very strongly and we’ve been getting some outstanding numbers – we had 55 groups go through [one house] in just four exhibitions,” he said. “One home in Theodore on a 1775-square-metre block had 35 groups go through and it sold for $65,000 above the asking price.”
Robert Peaker, principal at Peter Blackshaw Tuggeranong, says the historically low interest rates have motivated more people to invest in the property market, with many eyeing value for their money.
“They see what their money buys in the Woden area, then compare it with what [they could] buy 10 minutes away,” he said. “Wanniassa is hot at the moment, because you can get big 800-900 square metre blocks with a four-bedroom, en suite home on it for somewhere north of $500,000.”
The heightened sales activity suggests the once reasonable house prices enjoyed by homebuyers in Tuggeranong are likely to become a thing of the past as prices are slowly being driven up by dwindling supplies.
Cameron Whitnall, a sales agent at McGrath Woden, has noticed a migration of younger homebuyers from Gunghalin back to Tuggeranong.
“Some of them were brought up here, but bought their first home in Gunghalin because it was all new,” he said. “But the ones I’ve spoken to say they miss the bigger blocks and the trees and the more established life of the area.”
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