The Agency launches in the national capital

The Agency continues to increase its national presence with the establishment of a successful team in Canberra.

The Canberra team is a leader in the residential, project and commercial space, bringing with it a pipeline of high-caliber projects and residential announcements.

First The agency Canberra, at the helm of ACT, prominent sales manager Sam Dodimead is spearheading the agency’s strategic expansion in the nation’s capital.

Mr. Dodimead was most recently Director of Project Marketing for the Canberra Blackshaw local boutique network.

After overseeing over $ 1 billion in real estate transactions, Mr. Dodimead has been involved in many notable and highly successful projects in Canberra which were sold before their completion.

With in-depth knowledge of site feasibility, acquisitions, project planning and marketing, his experience working with developers to secure a range of development opportunities spans subdivisions, developments of townhouses and high-rise apartment buildings.

Mr. Dodimead joins his team of experienced and successful agents from Canberra; Luke Dent, Andrew Metcalf and Nic Geou. They are joined by marketing and operations specialist Anita Kell.

Agency chief executive and CEO Geoff Lucas said the launch of the Canberra office was aligned with the company’s strategy to rapidly expand its presence on the east coast and expand into new regions. .

“Our entry into Canberra is in line with the recognition of the nation’s capital as a significant growth opportunity for the Agency,” said Mr. Lucas.

“Having already developed businesses in Canberra, Matt Lahood and I have long viewed this market as a critical area of ​​potential.

“Canberra has low unemployment and earnings above the national average, coupled with a highly educated and skilled workforce.

“These factors, along with Canberra’s quality of life and attractiveness, have been powerful drivers of housing price growth in Canberra. Canberra will remain an attractive city for businesses, professionals and families. The arrival of international investors and skilled migrants is imminent, which will further stimulate the demand for high-quality real estate in the city.

A growing food and wine scene, recognition as an arts and culture center, as well as world-class exhibitions stopping only in Canberra at the National Art Gallery, Canberra has indeed cemented its place as a city. attractive and pleasant to live in.

Canberra’s number one industry is government, which not only provides economic stability and a global connection point, but also an attraction for developers and commercial properties.

“Canberra’s geographic position is also important, as its ease of access provides greater opportunities for our buyers and customers in the NSW Southern Highlands and Tablelands, Sydney and the Illawarra South Coast region,” Mr. Lucas.

In 2021, the Canberra team sold 420 listings with a gross sales value of approximately $ 220 million.

Agency Real Estate CEO Matt Lahood said the Canberra team’s expertise in a number of areas, including residential, commercial and project marketing, will give them a distinct advantage in the market.

“The significant level of development currently in our team’s Canberra pipeline cannot be underestimated,” said Mr. Lahood.

“The relationships and trust they build with developers are second to none, which has allowed the team to sell projects before their completion. The team generates such a high volume of sales that it can be difficult for some to keep up.

“The number and scale of projects underway in Canberra reflects the confidence of developers and investors in the long-term future and the growth potential of the Canberra market, and underscores the growing demand for commercial properties.

“The team’s strong project marketing capability is complemented by the high quality residential sales arm of their business. “

Mr Dodimead said the team was set for a busy 2022, with many projects and announcements in the works.

“We expect to achieve $ 500 million in off-plan sales in the Canberra market in 2022,” he said.

“We also expect to have a very active presence in the commercial market. Plus, we’ve got an exclusive listing of a home that’s set to break Canberra’s Inner South Suburbs record of $ 1 million.

“The Agency’s national presence gives us the ability to launch projects nationally, on a large scale, with a much larger pool of buyers, and to present sites to more developers with a great power of acquisition.

“As a business, the Agency works more harmoniously with its agents than a franchise network. This is a huge credit to the unique business model and how it allows us as agents to leverage the strength of a national network.

Canberra market trends will remain robust

The residential market remains strong in Canberra, which will remain a perennial trend.

Despite the high median real estate price, the residential market remains affordable in Canberra given high levels of household wealth, Dodimead explains.

Data from the domain show Canberra hit a record median home price of $ 1,074,187 in the September 2021 quarter, reflecting 32.4% year-over-year growth.

The capital has become the second most expensive city in Australia to buy a home, after Sydney.

“Canberra is a city of highly educated and skilled professionals, with high levels of household wealth,” Mr. Dodimead said.

“I like to see it like this: it’s very difficult to find a restaurant by booking in Canberra, the good restaurants are always full. If interest rates rise across the country, Canberra is very well protected because households can afford to absorb the cost.

“The high levels of borrowing power also ensure that the residential market will remain strong.”

Canberra’s landscape has changed since developers started adding density, says Dodimead, as that comes with more amenities for residents – cafes, bars, and shops in every suburb, this which has improved the quality of life and created a greater sense of community for its residents.

“As a city, Canberra has high rates of outbound migration,” Mr. Dodimead said.

“Once the borders open again, we will have migrants and highly skilled professionals joining the public and private sectors, which will contribute to the growth of the economy. ”

This trend has also led to strong demand in the Canberra real estate market for investors, both interstate and international.

“People want exposure to a government correlated market because the Australian economy is strong globally and investors see value in it,” Dodimead said.

“Rental yields are high and most properties are positively oriented once installed. “

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