Forrest home sells off-market for nearly $4 million

A four-bedroom home in Forrest sold off-market last Wednesday for close to $4 million – a positive result for both the seller and the young couple who were successful in their purchase. 

No. 32 Arthur Circle, Forrest, which is just a short walk from Manuka, sits on a large block and boasts a real sense of comfort while still featuring a modern interior. 

Selling agent Alexander Smout of Belle Property Canberra said the owner of the home wanted to sell in order to purchase a new home with a simultaneous exchange. 

“The owner was waiting for something to buy before they sold – and something came up for her really quickly and took everyone by surprise,” Smout said. 

“As soon as we found out that they had found something to buy, we called three potential buyers – all three were very vetted and we knew them quite well.” 

Of the three potential buyers, two put in offers on the home after some consideration. Smout said that a quick turnaround on the sale was a priority for the seller. 

The eventual accepted offer sat in the high $3 millions, with the buyers happy to secure the home after a long house hunt. 

“The buyers were a young couple who had been looking for a little while through Canberra’s Inner South. We’d met them at a few auctions. They had missed out on a few and really wanted to secure something before later this year,” Smout said.   

Featuring a pool, outdoor entertaining area, well-kept gardens and multiple living spaces, the house presented a rare opportunity to combine living in one of Canberra’s most sought-after suburbs with a contemporary lifestyle. 

Only a handful of free-standing houses have come onto the market in Forrest this year, creating high demand when they do become available. 

“At the moment, stock is so tight, so I think we’re going to see a market with a lot more opportunistic sellers,” Smout said. 

“The sentiment is that people with properties of substantial values are less inclined to take them to market – it doesn’t mean we have a shortage of buyers. In fact, I think it’s probably the opposite because people are starved of opportunities.” 

It’s a situation creating more opportunity for off-market sales, Smout said. 

“With people’s concerns around interest rates and whatnot, they’re less inclined to put their home on the market, but if we go to them and say ‘I’ve got a genuine buyer at this level’ or they come to us and say ‘have you got a buyer’, we are keeping tabs on our buyers, so we’re able to adapt a little bit more to their specific needs,” he said.