Buyers Agent for investment property in Canberra

Discussion in 'Property Experts' started by TimeToBuy, 17th Mar, 2020.

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  1. TimeToBuy

    TimeToBuy Member

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    hi,

    Looking to buy a investment property in Canberra.

    Can anyone recommend a buyers agent locally or from interstate?

    Thanks

    TTB
     
  2. Todd

    Todd Well-Known Member

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    I can't recommend a buyers agent in Canberra as I have never used one, but I can offer some general advice about buying Canberra as I grew up and live here and own several properties here:

    - Buy a house not a unit or townhouse for capital growth. The more land you can get the better.
    - Look for good proximity to schools and shops and ease of transport to the city and town centres. The main demand and what drives prices up in Canberra is owner occupiers and they are after family appropriate houses. Many work in the public service so good stable jobs looking to settle here for many years and raise a family.
    - Do your figures carefully - land tax and rates are very high but the numbers can still add up as rent is high as well.
    - I wouldn't buy an off the plan unit or townhouse as they are overpriced, often have defects and costs are often unknown. Buy something well established and read through all the BC minutes carefully if you are going down the path of unit/townhouse.
    - If I was to invest now in Canberra, I would buy a family house in the affordable suburbs with good land content with proximity to schools/shops content and something I could renovate and add value down the track. Probably looking at 550-800k for a purchase like this.
    But I am sure a buyers agent will tell you all this....
     
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  3. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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  4. Cornflower

    Cornflower Member

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    I would second Claire. She represented one of our potential buyers and I was impressed with her.
     
  5. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    3rd recommendation for Claire :) she's great.

    ... if you were looking in Queanbeyan (NSW) I can also help as am there regularly. Do be aware that Rates and Land tax are expensive in ACT for investors.
     
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  6. Jacque

    Jacque Jacque Parker Premium Member

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    +1 for Claire. Smart as a whip, experienced, knows her turf and fellow REBAA member. Best of luck with your search
     
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  7. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    @TimeToBuy how did you go? Did you end up contacting Claire or buying something?
     
  8. Curoch

    Curoch Active Member

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    I ended up contacting Claire thanks to all these recommendations, and although we didn't speak for long she was very helpful!

    In case you're curious, my situation (linked below) is what I spoke to her about. If you have any additional thoughts, I'd love to hear them! I'm still considering buying, even though Claire's advice was that there aren't many bargains in Canberra right now despite the pandemic.

    Advice for where to buy a PPOR (turning into an IP a few years down the track) in ACT < $500k
     
  9. Todd

    Todd Well-Known Member

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    I agree with that, virtually no bargains at all despite pandemic. If at all prices in many suburbs for detached houses have actually risen in Canberra in 2020 and most quality houses going under offer quickly as stock is relatively low. Out of 100,000 working people in Canberra, 65k are public servants and none have lost their jobs due to pandemic. Anyone in tourism/hospitality/recreation is hurting but the market has held up due to public service and low stock. ACT govt is starting to lift restrictions as we haven't had a case in 14 days but time will tell if the national recession and unemployment figures end up hurting the ACT or whether we are truly a Canberra bubble.
     
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  10. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    Glad you connected with her. I would second that for the most part on the south coast things are quite robust. Low stock and plenty of buyers unless a property is ugly or unusual. I have seen multiple offers at fair prices on all the good family homes I have been inspecting.

    If you really wanted an affordable outcome (given your budget on the other thead) then units in Q are an option but not quite as nice or as central for you to live in. Depends on your goals somewhat.
     
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  11. Todd

    Todd Well-Known Member

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    luckyone and Curoch like this.
  12. TimeToBuy

    TimeToBuy Member

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    Well as we all know covid19 took off shortly after my post.

    I did not contact Claire but now that things have settled down I will be making contact with Claire in the next week or two. May have to go past/via Canberra in late July so may as well get the ball rolling now.
     
  13. FireandWater

    FireandWater Member

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    I would be very much interested in how you go! Are you please able to keep us / me in the loop please?