10 Canberra suburb records broken over September quarter

The past three months from July to September have been a record-breaking time for the Canberra property market, with stellar sales setting new benchmarks in 10 suburbs.

In some cases, two suburb records were broken in one day.

Domain senior research analyst Dr Nicola Powell said the “lack of choice” in new listings had pushed buyers into a competitive space.

“That stock shortage is driving prices up and breaking suburb records,” Dr Powell said.

“When we look at who are the active buyers in the market, I think those that are upsizing are a really key market segment. They’ve been less impacted by COVID and the job and wage losses associated with the pandemic.”

Mark Wolens of Independent Woden, who broke Banks’ suburb record in September and the Gilmore record in June, said the recent sales were a testament to the high buyer demand in the housing market.

“It’s a competitive dynamic right now … because our unemployment rate hasn’t been hit as hard as other cities. The buyer demand has increased amid COVID,” he said.

“Anytime we get a good representation of a home on the market, there’s now a chance that it could set a suburb benchmark.” 

Mr Wolens said renovated and ready-to-move-in homes with spacious entertaining spaces were drawcards for a lot of buyers, particularly as more people worked remotely.

“People want to entertain effortlessly at home, that market of buyers has always been there but I think it’s a little more forthcoming at the moment,” he said.

Internal Allhomes data revealed the 10 properties that broke suburb records in the last quarter had thousands of views across both the Allhomes website and app and a high engagement level*.

New suburb records in August:

Theodore

6 Conlon Crescent

Sold for: $890,000

Via: Auction

Surpassed previous record by: $70,000

Views: 5280 

Engagement: 131,884 

Latham

3 Chubb Street

Sold for: $814,000

Via: Auction

Surpassed previous record by: $9000

Views: 12,262 

Engagement: 209,882

Moncrieff

11 Malton View

Sold for: $1.08 million

Via: Prior to auction

Surpassed previous record by: $40,000

Views: 3997

Engagement: 92,183

This house sold prior to auction after only four days on market.

McKellar

54 Kitty McEwan Circuit

Sold for: 1.28 million

Via: Private negotiation

Surpassed previous record by: $70,000

Views: 4487 

Engagement: 77,378

This house sold prior to auction after only four days on market.

Hawker

8 Marrakai Street

Sold for: $2.04 million

Via: Private negotiation

Surpassed the previous record by: $515,000

Views: 20,684 views 

Engagement: 385,425

Pearce**

38 Parkhill Street

Sold for: $3 million +

Via: Private negotiation

Surpassed the previous record by: more than $700,000

Nicholls

10 Wendy Ey Place

Sold for: $2.025 million

Via: Auction

Surpassed the previous record by: $15,000.

Views: 16,573

Engagement: 366,937

New suburb records in September:

Banks

13 Galbraith Close

Sold for: $1.21 million

Via: Auction

Surpassed the previous record by: $80,000

Views: 8268

Engagement: 148,124

Fadden

17 Sparkes Close

Sold for: $1.3 million

Via: Private negotiation

Surpassed the previous record by: $80,000

Views: 6818 

Engagement: 147,536

This house sold in less than one week.

Rivett

4 Santalum Street

Sold for $1.205 million

Via: Auction

Surpassed the previous record by: $5000

Views: 6036 

Engagement: 111,984

*Engagement levels are calculated by the number of clicks on a property’s floor plan, photos, video, 3D tours, property history and utilising the map functions such as clicking on the aerial view of the property and land details.

**Data was not available for this off-market sale.