Canberra auctions: Quality apartment sets new price benchmark as Canberra’s housing market heats up

Demand for modern, well-equipped apartments in desirable locations is pushing prices higher as buyers show increasing interest.

The Property Collective’s Ben Wilson said the 90-square-metre two-bedroom apartment in The Griffin development attracted four registered bidders and spirited bidding before selling under the hammer for $971,000 on Thursday.

The luxuriously appointed executive apartment at 44/44 Constitution Avenue, Campbell offers spacious light-filled living spaces, two bathrooms, fully-equipped designer kitchen, soaring ceilings, ducted heating and cooling, large balcony with views and two basement car parking spaces.

Wilson said it was a record price for a two-bedroom apartment in the development, which was completed in late 2022.

“The latest sale highlights the significant growth at The Griffin with two-bedroom apartments originally selling off plan in the mid $700’s to low $800’s back in 2021.

“The Property Collective has sold three properties in the development in the last three weeks,” he said.

Wilson added that the growth was also testament to the award winning, Amalgamated Property Group who developed the project and Chase Constructions who built the development.

“The apartment is located at one of Canberra’s premium residential addresses which is highly sought after with the result demonstrating the demand for better quality residential projects in the ACT,” Wilson added.

Located near busy dining and entertainment precincts, The Griffin is near the Lake Burley Griffin with the development offering numerous features including a 25-metre swimming pool, steam and sauna facilities, gym, concierge service, library, multiple lounge areas and meeting rooms.

Elsewhere, Belle Property Canberra’s Michael Pead sold the four-bedroom, two-bathroom townhouse at 4/16 Golgerth Street, Denman Prospect for an undisclosed price but said to be in the mid $900,000s.

Situated in one of Canberra’s highly popular locations near the vibrant Denman shopping precinct, the large double-storey executive home offers a flexible floor plan with spacious living areas including an upstairs rumpus plus an expansive outdoor terrace area.

Blackshaw Manuka’s Christine Bassingthwaighte had strong interest in the stylishly renovated four-bedroom family home at 4 Phillipson Crescent, Calwell.

Set on a generous 964-square-metre elevated block, the cleverly designed residence features kitchen with butler’s pantry, two bathrooms, ducted heating and cooling, views of the valley and a double garage with workshop.

The home is currently on the market with an asking price of $985,000.