Downer house breaks million-dollar mark and suburb record at Canberra auction

Each inner north suburb is now home to a million-dollar house, following a record-breaking auction in Downer on Thursday.

A four-bedroom house at 96 Melba Place sold for $1,009,500 under the hammer at the mid-week auction.

The record-breaking house featured a solar passive design and enjoyed a quiet position at the end of a cul-de-sac.

A high energy rating, polished concrete floors and floor-to-ceiling windows were among the standout features.

It sold through Luton Properties Dickson agents Aniko and Peter Carey.

The agents have also lived in Downer for 23 years and Ms Carey said the suburb was “finally being discovered”.

“It’s a great suburb and an amazing community,” Ms Carey said.

“There are lots of young people moving into the area.”

The final inner north suburb to break the million-dollar barrier came close to the milestone in September when a four-bedroom house at 28 Berry Street sold for $996,000.

Mr Carey said Downer house prices have jumped in recent months, however it remains one of the most affordable suburbs in the inner north.

Downer’s median house price in 2016 was $745,000, about $60,000 more than the Canberra median house price of $684,395.

Older Downer homes in original condition provide entry level opportunities for those hoping to break into the inner north below the Canberra median.

Five former Mr Fluffy blocks ranging from 652 to 1106 square metres sold for $592,000 to $760,000 in 2016.

The 1106-square metre block, which sold for $760,000, was at 94 Melba Place, next door to this week’s million-dollar sale.

Mr Carey said the strong results gave potential buyers the confidence to invest in the area.

He said the suburb had the atmosphere of a country town and didn’t get any through traffic.

“People comment all the time on the street trees and parks,” Mr Carey said.

“The suburb will also benefit the most from the light rail, with three stops along the western boundary.”

Mr Carey said there were other houses in the suburb that would sell for more than $1 million, but the properties were tightly held by the owners.

He said the light rail, new shops and recent strong results would spur further seven-figure sales in the suburb.