Category Archives: The Market

Canberra’s Rental Market Shifts as Vacancy Rates Hit Record High

Canberra's rental market is experiencing a significant shift, as indicated by the latest report on vacancy rates. According to Domain Vacancy rates: May 2023, the capital city recorded a record-high vacancy rate of 1.8 percent, surpassing other major cities in Australia. This increase in available rentals is accompanied by a doubling of listings compared to…

How to Maximize Your Home’s Sale Price in Any Property Market

Selling your home at the peak of the property market may not always be feasible, but there are steps you can take to ensure your home sells for the highest price regardless of the market phase. At Morrell Property, we believe in maximizing the value of your property and appealing to a broad pool of…

The Rise of Apartment Living: Why Australian Families Are Choosing Apartments

With more Australians than ever opting to live in apartments, it's clear that this housing trend is gaining popularity. Factors such as affordability, liveability, commutability, and sustainability all play a role in this shift. In this article, we will explore why an increasing number of Australian families are choosing apartments as their preferred housing option.…

The questions to ask if you’re buying a property off the plan

Deciding to buy a property off the plan is an increasingly popular choice for a variety of buyers, from first-home-buyers to families and downsizers. The allure of a brand-new home and the opportunity to bolster deposits during the pre-construction period make it an attractive option. However, it's important to remember that buying off the plan…

Greeting from the team at Peter Morrell Real Estate! We hope you are well and enjoying the summer weather. For the market, Canberra’s house prices soared by almost $1300 each day in the three months to December, setting a new record high for the city’s median house price which now sits at $1.178 million, new research…

Should you buy a “fixer-upper”?

With a fair proportion of Australians currently glued to "The Block" and home prices soaring, we're finding that many buyers are attracted to the thought of buying a run down home that they can fix up. Taking on a fixer-upper can seem like an intimidating project at first, but it can also be a super…

3 Reasons we aren’t in a housing bubble

Home values in Canberra appreciated 10.6% over 2020 and analysts predict another 5% this year. This is one reason some are concerned that there will be another housing bubble like we experienced a decade ago. Here is what makes this market different compared to last time: 1️⃣ This time, housing supply is extremely limited. The…