Emily and Ben Davis with their children Zac, Esther, Mia and Sophie. Picture: Expose Photography
While 80 days on the market is typical in Huonville, these homeowners had their property under offer in just one week.
And it’s easy to see why.
Emily and Ben Davis had the goal of presenting a perfect “showroom level” home that was warm and inviting.
That meant being ruthless when filling up a skip bin, buying plants and art for the walls, hiring a professional cleaner, as well as a top-level marketing package.
“We wanted to get people through the door, to have that wow moment when they stepped inside,” Mrs Davis said.
“While we love this home, we are outgrowing it. Next, we will rent, and then build.”
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No.1/90 Main St, Huonville has been sold fast. Picture: Supplied
No.1/90 Main St, Huonville has been sold fast.
The Davis’ historic home with a modern interior was well-received by the market, said Fall Real Estate agents Greg Fall and Rupert Hansen.
“It was sold to first home buyers, and Emily and Ben were first-time sellers; it was a great result all around,” Mr Hansen said.
“It was a case of the right spot, the right time, and superb vendors who helped us present the house in the best possible light.
“We held two open homes, and the buyers were among the first groups to inspect the property. They snapped it up fast.”
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Fall Real Estate agent Rupert Hansen.
New PropTrack figures show a 0.5 per cent monthly rise in Hobart home prices and a 3.1 per cent uptick annually.
The monthly rise was the second largest out of the capital cities, behind only Adelaide.
Hobart remains comparatively affordable with a $665,000 median value, making it the cheapest city aside from Darwin.
REA Group senior economist Anne Flaherty said while the number of homes for sale has slowed, buyer demand remains strong.
“Home prices are expected to break into new territory later this year, with further interest rate cuts expected to add momentum to price growth,” she said.
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REA Group senior economist Anne Flaherty.
Mr Hansen said in his patch, over the past three-four weeks, there has been a noticeable uptick in activity.
“All of a sudden, things are selling quicker and more easily,” he said.
“And history would suggest the busier part of the year is yet to come.”
Meanwhile, homeowners and buyers holding their breath for an interest-rate cut have reason for optimism.
Real Estate Institute of Australia president, Leanne Pilkington, said the June quarter Consumer Price Index figures demonstrate that inflation is tracking sustainably towards the Reserve Bank of Australia’s 2.5 per cent target.
“We are clearly moving in the right direction. There is a credible case for a rate cut,” she said.
The sold sticker at No.1/90 Main St, Huonville. Picture: Supplied
Bendigo Bank chief economist, David Robertson, said depending on global developments between now and August 12, the question was ‘how big will the cut be?’.
“An August cash rate reduction is all-but-certain, but it remains to be seen how big the cut will be,” he said.
“While a 50 basis point cash rate cut in August seems unlikely in light of Michele Bullock’s speech last week around consistency, a 35 basis point cut to the cash rate would take it down to 3.5 per cent, which would be a sensible compromise.”