Knock down or move in? Why Canberra buyers might choose a new build over a renovation

Urban renewal – and its close relative, gentrification – often begin life under the less glamorous term “knockdown and rebuild”.

Dan McAlpine of Belle Property Canberra points to that Monaro Crescent home as a shining example of what can be achieved.

“This home has everything to meet the needs of the growing family and it delivers the best in today’s contemporary living standards,” he says.

“The Inner South has seen many renewal projects like this, but it’s reasonable to say supply is getting tighter within the options that might present as opportunities for a new home.”

McAlpine says the Inner South, as one of Canberra’s earliest settled regions, probably saw renewal begin in earnest about 20 years ago.

“That means there are fewer of the originals around and less still where a block might be considered perfect for a rebuild,” he says. 

Stephen Bunday of LJ Hooker Dickson says rebuilds have been happening at a pace within the Inner North.

“We’re not seeing any shortage in supply of candidates for urban renewal projects,” he says.

“These and renovations and extensions have been going at full speed.”

Bunday says that pace, however, has been tempered by a number of constraints.

“There are challenges in sourcing tradies which can blow out project schedules,” he says.

“That’s also pushing up building costs and there’s been a tightening of the building supply pipeline, meaning it’s often taking longer for delivery of materials. These can all add to pushing out completion dates and increasing costs.”

• The block The first big challenge is to ensure a block is going to be the right platform for a planned build. It would be wise to consult an architect before purchase.
• The plan What needs should the home meet? How can you future-proof its appreciation potential? Ask an agent for advice. Consider the whole concept – from kerb to back fence.
• The build Be flexible. Be patient. The building sector is characterised by a number of challenges including rising costs, competition to source tradies and a tightened supply pipeline for critical building materials.

Check out our top pick of knockdown rebuild homes:

Griffith

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Everything old is new again in this successful knockdown and complete rebuild that has delivered a contemporary home in one of the best suburbs within the Inner South.

If you’d like to understand the level of dramatic transformation that has taken place on this massive 934-square-metre block, check the photographs within “property history” in the Allhomes online listing.

No doubt the old home had its history, but the next owners of this new residence, completed in 2020, will have the opportunity to write their own. 

What is very evident is the thought given to the design that has taken in every square centimetre of this big block. 

The floor plan offers three connected zones: the garage and main bedroom suite in one; a guest room with en suite and a separate living area in another; and two further bedrooms and the kitchen-dining-family in the third. 

Highlights include lined cathedral ceilings and European oak floors. There’s a spacious kitchen with stone benchtops, ILVE electric oven, gas cooktop, a Miele dishwasher and room for prep and appliance storage in a butler’s pantry.

The sense of space is enhanced through the vaulted ceilings and warmed by a feature gas log fireplace. French doors open directly onto the al fresco zone – with an outdoor kitchen – while the star is the travertine-paved, 45-square-metre swimming pool with adjoining shower and plant room. Nearby is a fire pit.

Price guide: $3.5 million +

Auction: 6pm, December 2

Agent: Belle Property Canberra, Dan McAlpine 0401 005 282

Or try these:

Gowrie

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Price guide: $1.1 million +

Auction: 11am, November 27

Agent: The Property Collective, Eliana Rojas-Terry 0432 659 790

Forrest

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Price guide: $3.5 million +

Auction: 1pm, December 3

Agent: Blackshaw Manuka, Andrew Chamberlain 0412 411 422

Lyons

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Price guide: $1.9 million +

Agent: 2pm, December 11

Agent: Belle Property Canberra, Michael Pead 0431 937 684