Selling Unit in Canberra : What Would Be Your Price Entry Point Strategy?

Hey guys

If you were selling a unit via private treaty with a current market value of $240k (and approx $240k is what you wanted to get as soon as possible) how would you price it on entry into the market?

• Price it at $240k?

• Price it at about $231k+ to try and build more buyer interest?

• Price it over $240k?

Views much appreciated.

Thanks

 

1 bed units (presuming that's what this is) probably in the least demand of any property in Canberra so if it's valued at 240k and you can get close to it that's a pretty good result. Was it "valued" by the agent or a valuer? If its the agent it's an appraisal and ultimately the market will tell you what it's worth so don't hang everything on the valuation - do your own research as well on similar sold properties. If you want to sell quickly i would go offers over 230k to get people interested and try to negotiate up to 240k. But your agent should know best if he/she is any good

 

What’s the agent recommending?

I’ve sold two properties in the ACT recently - I’ve used the same agent for both. He asked how much we’re hoping to get and then takes control with pricing/advertising.

All in all - I’d take the agents guidance. They do this stuff daily.

Cheers

Jamie

 

This is a 2 bedroom unit, rented out at $325 per week. Below is a link to the property (first 5 photos are recent this year). I paid $265k for this in 2009. I doubt the value is going to increase much in the future, if at all, and would probably go down.

17/26 Springvale Drive, Hawker ACT 2614 Address Information | allhomes

Agents advice? Initially $225k+ then on further consideration $230k+.

I still have a $263 mortgage as I combined it with a car payment at the time. The rates, land taxes and levies are too much. All I know is I wish I never listened to people tell me what I should and shouldn't of done when it came to buying property. But it is what it is.

 

That sounds very cheap for a 2-bed unit in Canberra even if it isn't central. That's more a Queanbeyan price.

SQM indicates this suburb has picked up a bit: SQM Research - Weekly Asking Property Prices

I'd do some more due diligence (comparable sales etc) to make sure you're not leaving money on the table.

 

One bit of research I long forgot about. Thanks for sharing that.

 

15/26 Springvale Dr (also two bedder) sold for 255k on 27 February this year

15/26 Springvale Drive, Hawker, ACT 2614 - Property Details

 

Well the ad went up today on All Homes et al. Advertised price at $229+.

 

All the best and hopefully a quick sale.