By Steve Evans
When to sell and when to buy gets tricky in a wobbly housing market.
In Sydney, shed a tear for sellers as prices fall in some areas - and watch the smiles of buyers.
In Canberra, real estate agents say unit prices are falling but house prices are rising, and in some parts of the capital they are rising substantially.
Jessica Evans and James Douglas at the Ainslie home they made their own.Credit: Lawrence Atkin
So what's the advice for those navigating the choppy seas of house buying?
Ainslie couple James Douglas and Jessica Evans seem to have done well. They're in a suburb which has beaten the Canberra market (as well as other Australian metropolitan markets).
The couple reckons the three-bedroom house they bought for $635,000 in 2016 would now fetch $850,000 ("or something north of that," as James put it).
Their secret was to choose the location they wanted and just wait for the right property to come along. Patience was a profitable virtue.
"Stick within your budget but hold out for what you want," James said.
They realised that, as they kept failing to get what they wanted, they were just moving out to cheaper and cheaper areas and risking ultimate dissatisfaction.
They both say as one: avoid auctions. "We were not good at auctions," Jessica said. "This place was 'offers sought'."
They also advise: "move fast". They saw the place on a Thursday and offered on the Friday.
It was just what they wanted - something at the right price but with potential so they could translate their hard work into an improved house rather than buying the already-done improvements at a higher asking price.
They knew their own minds: "It's disgusting. It's perfect," said James. They trusted each other - he made the decision before she had seen it.
They bought a place which needed a lot of work done to it. "It's the closest you can come to knock-down-and-rebuild without knocking it down," James said.
"This place was barely livable when we bought it but we had to just suck it up. It was horrendous at the start.
"Everybody was shaking their heads. Nothing had been done inside."
Jessica said the first time she had a shower she wore a pair of thongs.
But they had bought a structure - ex-government - that was basically sound and then neglected. The shell was good but the cosmetics had gone to rack and ruin.
James Douglas is a joiner so he could use his craft for much of the work and his contacts for the rest.
But that does mean they won't be doing the same thing again in a hurry.
They reckon that to call on friendships so soon after doing it once would fray those relationships far too much.
On the other hand, they have got a really nice house to invite those friends around to - and a gain in price if they decided to sell.
And no need to wear thongs in the shower.