‘Houses aren’t selling themselves’: Moncrieff and Kaleen homes set new suburb records

New suburb price records have been set in Moncrieff and Kaleen after homes there sold for $1.73 million and $2.15 million, respectively.

The six-bedroom home at 32 Slim Dusty Circuit, Moncrieff, beat the previous suburb benchmark at 8 Helmrich Street by $20,000.

Selling agent Josh Morrissey of HIVE Property said the property passed in at auction two weeks ago but was eventually sold via private negotiations to a young family.

“[They] bought it for the big basement, pool, reserve views and building quality. It was a big tick-box sort of home for the buyers,” he said. 

Elsewhere, a newly built four-bedroom home at 174 Maribyrnong, Kaleen, quietly beat the previous suburb record by $400,000, and was the first sale in the suburb above the $2 million mark.

“The eventual buyers came from the Inner South but wanted to be in Belconnen with a house of this size for the kids’ schooling,” Morrissey said.

Moncrieff and Kaleen are two of many suburbs whose records are being broken across Canberra at the moment. In November alone, there were nine suburb records reported in the capital.

“In this market, houses aren’t selling themselves. With people nervous to spend at the top of the ceiling when their borrowing power is coming down, buyers are extra picky with lots of stock around,” Morrissey said. 

However, November has seen a change in buyer mentality as the new year approaches, and with it comes new opportunities, he added.

“Buyers are realising what their capacity is likely going to be during the next couple of years. Confidence isn’t higher now, it’s just more stable. 

“Now that people have steady feet, they can make educated decisions around value, and that’s resulting in competition and record prices this month.”

Morrissey said the upcoming summer period could see more record-breaking sales. 

“I think a lot of people are getting ready for January. People are feeling confident enough to sell in the first quarter of the next year,” he said.

“That’s a big difference because up until now [in the last] six months they haven’t had that.”