Get the best possible price when buying a home in Canberra with help from a buyer’s agent.
With a median sales price upwards of $600,000, Canberra is one of Australia’s most expensive capital cities for home buyers. As the competition in the property market heats up, buyers must do everything they can to find their ideal home at an affordable price.
This is where a buyer’s agent can help. These licensed real estate professionals are property experts who can help find the right home for you and negotiate a competitive price.
Read on to discover how you can find a buyer’s agent in Canberra.
How do I choose the right buyer’s agent?
Finding the right buyer’s agent is crucial to getting a good deal on your next property purchase, so it’s essential to research a range of options before choosing an agent. Interview prospective people to find out more about their experience, communication skills and knowledge of the Canberra property market.
What does a buyer's agent charge?
Fee amounts and structures can differ greatly from one Canberra buyer’s agent to the next. Some charge a flat fee for their services usually ranging from $5,000 up to a maximum of $15,000.
However, other agents charge a percentage-based commission that could be anywhere between 1% and 3% of the property purchase price. So if you were to buy a home at Canberra’s median sales price of $586,500, you could expect to find fees ranging from $5,865 to $17,595.
It’s also important to check when you’ll need to pay those fees. While some agents only require payment once you’ve bought a house, others will need an upfront payment.
Want more information? Check out our full guide to buyer's agent fees
What is the average sale price for a Canberra property?
As of 31 March 2017, the median sales price for a property in Canberra was $586,500. That figure represents a 12.8% increase in values from the previous year and makes Canberra Australia’s third most expensive city behind Sydney and Melbourne.
With booming prices and a highly competitive market, using a buyer’s agent to help purchase your next property makes good financial sense. Not only could you potentially save tens of thousands of dollars when buying your next home, but you can use the agent’s insider real estate knowledge to steal a march on the competition.
Looking for a property? These Canberra suburbs are popular among home buyers
Median sales price: $1.55 million
This inner-city suburb sits on the southwestern shores of Lake Burley Griffin and is just a stone’s throw from Parliament House. The median sales price in Yarralumla is $1.55 million for houses and $845,000 for units, representing 12-month increases of 24% and 23.8% respectively.
Median sales price: $738,750
This sleepy suburb is home to a portion of Canberra Nature Park and a number of schools. The median sales price of $738,750 has increased 11.1% in the past year.
Median sales price: $720,000
Situated in the Belconnen district, this popular suburb boasts new housing close to the city. Cook’s median sales price is $720,000, representing a 5.6% increase in the past year.