Grand Sutton residence smashes suburb record by $1.15m

A four-bedroom property in cross-border Sutton sold for an eye-watering $4.75 million recently and set a suburb record, surpassing the previous benchmark by more than $1 million.

The home at 57 Vaughan Drive, affectionately known as LouieLou, sold via private negotiations and beat the previous record by $1.15 million, a figure that did not surprise selling agent Jason Roses, of Verv Property. 

“This is the strongest I’ve seen the market ever,” he said.

“People are looking for a tree change but the supply of homes has not levelled that demand so we have properties being snapped up, and because [international] borders are closed, people have a lot of money in the bank and are now using that to pay premium prices for luxury houses.”

No. 57 Vaughan Drive last sold in 2015 for $3.6 million, which also held the previous suburb record, Allhomes understands.

Nestled on 16.18 hectares of land, the home had been on the market since November last year.

“We always knew it wasn’t going to sell overnight, it’s not a home you find very often so it needed a particular buyer,” Mr Roses said.

During the campaign, the property received a lot of interest from both Canberra and interstate buyers looking for a tree change.

“We had a mix of buyers who wanted something that could cater for horses and others who saw it for what it was: a luxury estate,” Mr Roses said.

“The eventual buyers were a Canberra family who wanted to escape the city life and live somewhere with a relaxed lifestyle. This home ticked all their boxes.”

Only 15 minutes from the Gungahlin town centre with Canberra CBD a short drive from there, location was a key drawcard for the eventual buyers, as well as the luxury stabling on site, Mr Roses added.

“At the time, this was the seller’s dream home but now that their kids have moved out, they’ve decided to sell to move up north,” Mr Roses said.