In any given year, as Canberra's spring blossoms bloom so, too, does the property market.
But in 2024, that market is subdued.
Agents are working harder to sell properties, houses have a longer listing times than last year and a relatively high proportion of houses are being passed in at auction.
It is a buyer's market.
CoreLogic's head of research Eliza Owen said high interest rates, a cost-of-living crunch and little consumer confidence around large purchases were creating "head winds" against demand.
Canberra homes had an average of 51 days on market in August 2024 across 2845 listings, giving an indication of what spring could look like.
In the same month the year before, 3343 properties were on the market for an average of 43 days.
The territory was not experiencing as strong of a buyer's market as other capital cities, according Ms Owen.
"Supply seems to have adjusted to waning buyer demand. We are seeing total listings are a little bit lower than where they were this time last year," she said.
But agents said they were seeing a steady pipeline of listings coming to market across the next three months.
That pipeline made it the ideal time for buyer's to act, selling agent Jonny Warren, of Jonny Warren Property, said.
"Buy now. It is the perfect opportunity to purchase a house, if you can afford it," he said.
"From now into the next three months, we are probably going to see prices decrease more and it is the perfect time to take advantage of a downward market."
Ms Owen said the interest rate hold on September 24 may have created a window of opportunity for buyers to get in before increased demand once rates are cut.
But a market with favourable conditions for buyers is a double-edged sword, particularly for those looking to purchase their own home.
Ms Owen said high interest rates - which are not predicted to decrease until 2025 - were continuing to limit borrowing capacity.
Many first home owners were either relying on help from families or being priced out of the market by people offloading properties as a result.
Hayden Evans, a firefighter, rents in Wanniassa. He and his wife Catelyn, who works in education, are hoping to buy their first house in the territory within the next six months.
Despite healthy salaries, Mr Evans said they had limited borrowing power in current conditions and a market skewed towards buyers was not enough to secure them a property.
The couple are planning to use Mr Evans' parents as a guarantor.
"If I didn't have support from my parents to bolster up our ability to provide [a] deposit, we would probably not be looking at buying yet. It is a huge factor," he said.
Even with a guarantor, the couple did not expect to be able to afford a house outside Canberra's far south and far north.
"We are most likely to settle in Gordon, Banks, Theodore-kind-of area or up near Gungahlin because the prices aren't as absurd as if you start going near the city centre," Mr Evans said.
