Canberra house prices are expected to rise in the new year as the property market is hit by the Mr Fluffy effect.
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Experts say the typical spring rush combined with an influx of affected families looking for new homes in their existing suburbs is likely to push up prices in early 2015.
This weekend marks the last opportunity for buyers to settle on a new home before Christmas as about 50 properties go under the hammer.
And Mr Fluffy home owners have already been competing against each other for homes.
Several buyers looking to move on from their unfortunate situation will battle it out for a home in Farrer on Saturday morning.
Owners of properties affected by loose-fill asbestos began to purchase new homes following the ACT government's announcement of the buy-back and demolition scheme in late October.
While a number of home owners are in the financial position to be able to move quickly, many others will need to wait for the purchase of their homes.
As of Friday about 490 home owners had opted into the buy-back scheme.
Agents say there has been an influx of Mr Fluffy home owners at open inspections throughout the territory and this is likely to translate into many buyers as the scheme begins in January.
They say affected home owners are also hoping to stay in the same suburb and this is creating strong competition for homes.
The Canberra Times revealed earlier this year the spread of the toxic homes in the territory and the numbers of affected properties in each suburb.
A comparison with Allhomes listing data shows there is a severe lack of properties in the suburbs with the most Mr Fluffy homes.
Kambah has 103 Mr Fluffy homes and just 37 houses on the market, Pearce has 40 affected houses and just eight houses on the market and Curtin has 43 contaminated properties and 19 houses on the market.
Farrer and Torrens have about 30 Mr Fluffy homes each and there are only eight houses on the market in each suburb.
Independent Property Group Woden and Weston Creek agent Jonathan Charles said he had sold five homes in the last few weeks to Mr Fluffy home owners.
This included a block of land in Farrer which sold for $650,000 at auction on Thursday evening.
Real Estate Institute of the ACT president Michael Kumm said the effect on the territory's market would likely start to be seen in January and February following the quiet period after the spring season ended.
Domain Group data shows that this year's early spring auction market has been stronger than the same period in 2013.
During the October quarter there has been a 7.8 per cent increase in the median dwelling price for homes sold at auction and an increase in sales of 24.1 per cent.
The October 2014 clearance rate was 55.2 per cent compared to 47.9 per cent last October.
And there were 238 auctions held in November last year compared to 403 expected this month.
Domain Group senior economist Andrew Wilson said there had been some positive signs for the underperforming Canberra market in the past few months and unleashing 1000 changeover buyers would increase activity.
But he said the territory needed to improve its overall economic conditions to record solid price growth.
"I don't think we're going to see a raging boom but I think we'll see certainly more activity and some prices growth as a result," Dr Wilson said.
"But the key elements are still a better overall and more sustained performance by the local economy and a lot of that relies on where the federal budget's going."
Ray White Kingston director Cory McPherson said there had been an influx of Mr Fluffy home owners at open homes following the announcement of the scheme.
He said those who were financially able to purchase a new house before the buy-back began were trying to beat the new year rush.
Mr McPherson said many Mr Fluffy home owners would be buying in a different market to the one they would be selling in as valuations would be based on the market as at October 28.
"If you're buying and selling in the same market it's OK, but they're going to be coming into a highly competitive and volatile market I would think," he said.
Mr McPherson said he expected "Mr Fluffy bidder against Mr Fluffy bidder against Mr Fluffy bidder".
Elders Belconnen agent Phyllis Tidmarsh said the agency was getting two or three affected home owners through each open inspection and she expected prices to rise in a couple of months.
Real Estate Institute of the ACT chief executive officer Ron Bell said he didn't think a boom was on the cards but expected a price rise next year regardless of the Mr Fluffy situation.
The Commissioner for Fair Trading, Brett Phillips, wrote to all real estate agents in the territory at the start of November to explain obligations in relation to the territory's announcement.
Agents were warned that they had to explain to purchasers of any Mr Fluffy properties privately sold after October 28 that they would not be eligible for the buy-back program or receive any assistance.
"Failing to disclose the aforementioned impact of the buy-back program to persons interested in purchasing affected 'Mr Fluffy' homes or by being 'silent' can be considered misleading or deceptive," Mr Phillips wrote.
