Savvy property buyers know that it not time to sit on the sidelines

Brady Yoshia, Buyer’s Agent and Founder at Brady Marcs shares why August is the best time to buy for investors and those looking to purchase primary residences.
 

• Vendors are realistic and have accepted the current market
• Buyers can buy Grade A properties at better value
• Great time to upsize
• There has never been a better time to buy
•  Buying better in terms of what you can afford to buy
• Areas that were just out of reach are now within reach

Canberra Property Market Update

Property located in the Inner South and Inner North suburbs of Canberra -  which is prime property in Canberra -  has decreased by 10 percent from the market highs experienced in 2021. Buyers who were on the cusp of buying into premium areas can now afford to enter the property market in the area of their dreams.

Brady’s Tips for Investors looking to invest in Canberra:
 

• Look for property close to amenities and transport
• Property should have a unique feature and not be stock standard
• Examples of what to look for are properties with no common walls, a north facing outlook, a small boutique block or a well designed study nook for a home office.
• The property needs to stand out rather than conform

Brady’s Tips for buying Primary Residences in Canberra:
 

• Stick to what you need. Don’t compromise on your requirements. 
• Look for a home with lots of natural light
• If you plan to renovate do your homework so that there are no surprises
• Look at local schools, shops and cafes depending on your lifestyle requirements
• If you have a family or want a family, make sure that the suburb is family friendly
• If you are a young professional and prefer to live amongst like minded people, choose a suburb that professionals live in rather than family orientated areas

Where to invest in Canberra. The best suburbs to invest in:
 

Kingston

Braddon

Ainslie

Manuka
 

Primary residences in Canberra:
 

If you are looking for a more premium area, then the Inner South and Inner North are your best bet.

If you want more space and prefer a family friendly area which is quieter, the further out suburbs are where you should look.
 

Where to invest in Sydney:
 

Randwick

Mosman

Inner West close to planned light rail

Five dock

Summer Hill

Waverton

Tips for buying Primary Residences in Sydney:

This depends on where you want to live, how far your commute to and from work will be, what schools are in the area if you have a family or plan to have a family and whether you are working from home.

In Sydney property prices have also dropped allowing people to buy in areas that they could not previously afford.

Examples: An Upper North Shore home that would have achieved $2.8 million last year will now sell for $2.4 million. This is a 14 per cent difference. 

An apartment on Sydney's Lower North Shore which sold for high $700 000’s last year will now be selling for almost $100k less.

Brady concludes: “At first vendors were shocked but they are gaining confidence that they can now purchase better. They know they will not get the same prices as last year. Six months ago they would not be able to afford what they can afford now. They can upsize and buy in a different area. Properties that were out of reach have fallen into buying capacity.”