Duffy home sets new suburb record with $2.7 million sale at auction

Number 11 Settlement Drive in Duffy is no ordinary home … it’s a record-breaking home. The five-bedroom property sold under the hammer on Saturday afternoon for a neat $2.7 million, beating the previous suburb record by $500,000.

The 2700-square-metre property is a single-level, semi-rural residence boasting light-filled spaces, high ceilings, spacious bedrooms and an al fresco entertaining area overlooking a stunning pool. It also has a studio with its own kitchenette and en suite.

Selling agent Josh Yewdall of Belle Property Canberra said bidding for the property started at $2.32 million and slowly made its way to $2.52 million, thanks to five of the nine registered bidders. The property was then announced on the market.

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“From there, bids just skyrocketed and then the hammer fell at $2.7 million,” he said. “I didn’t think we’d get that … I was thinking around the $2.5 million to $2.6 million mark, but it’s quite a unique property.”

The home, which last traded in 2017 for $1.6 million, had a reserve of about $2.5 million.

Yewdall attributed the sale to the marketing campaign which attracted 120 groups over the course of three weeks.

“It’s probably the best campaign I’ve ever run,” he said. “We approached this one differently and ran open homes at different times and days of the week, but also ran private viewings between the serious buyers and the sellers … it was a bit of a show-and-tell and it worked a treat.

“It was quite nice that, when the eventual buyer signed the contract, it was a great atmosphere and they formed a great relationship.”

Duffy’s previous suburb record was set by the home a few doors down at 5 Settlement Drive when it sold for $2.2 million in 2020 – during a period of falling home-loan interest rates, rising house prices and multiple suburb records being set.

“Suburb records are still achievable in this market but it depends on the property,” Yewdall added.

“As an agent, you have to manage buyers’ expectations but also look outside the box and try and replicate the results achieved during that COVID-19 period … it’s effort and energy but you want to get the best possible outcome for your client.”