Narrabundah home sets suburb record, selling prior to auction

A four-bedroom home in Narrabundah has set a suburb benchmark after private negotiations on Friday pushed its price past the previous record of $2.2 million, according to listing agent Mario Sanfrancesco, of Blackshaw Manuka.

The house sold prior to its auction date scheduled for April 4, a growing trend in an uncertain market that has had a rise in pre-auction offers. 

Domain data found the number of Canberra houses sold prior to auction increased by 16.7 per cent in February 2020.

The record-breaking property at 7 Throsby Crescent is nestled on 1207 square metres of land and features a beautiful French Parterre garden on its north side. 

Mr Sanfrancesco had no doubt the home would surpass the suburb record, which had been held by 58 Sprent Street since 2017.

“We knew it right from the moment we listed the property. It was a beautiful home and worthy of breaking the record,” he said.

According to government records, the home was last purchased in 2007 for $727,000. Mr Sanfrancesco said the vendors transformed the block of land with every intention of making it their dream home.

“The house itself is 357 square metres of living and predominantly on one level. It’s a practical home with a timeless design that fits beautifully within the inner south landscape,” he said.

The symmetrical gardens at the rear of the house are bordered by manicured hedges, roses and ornamental pears. The gardens are complemented by an al fresco entertaining area with a fully equipped outdoor kitchen complete with a built-in gas barbecue, dishwasher and wine fridge.

The larger-than-life basement has enough space to comfortably house 10 vehicles, while an adjacent office space has five workstations, a kitchen and bathroom — making working from home a breeze.

Mr Sanfranceso said the location “was one of the drawcards for the buyers”.

“It’s only a short walk to the Griffith shops and a short distance to some of the ACT’s most prestigious schools and surrounding areas including Manuka.”

The recent sale bucks Narrabundah’s performance in the Domain House Price Report for the December quarter 2019, which found the suburb’s median house price dropped by 1.3 per cent to $930,000.

Mr Sanfrancesco noted there was a lot of interest from families, and the eventual buyer was a family who had been eyeing the property since it went on the market.

“Before we listed the home, we held VIP viewings where we invited a number of buyers that I was dealing with to inspect the property and that generated a lot of interest,” he said.

“So, when we listed the home on March 12, it sold not long after at a fair price for all concerned.”

One day after selling 7 Throsby Crescent, Mr Sanfrancesco sold the property at 97 Jansz Crescent, Griffith, under the hammer for $3.34 million, making it the second-highest selling house in the suburb.

The top position in Griffith is also an accolade held by Mr Sanfrancesco – 13 Bass Gardens which sold at auction for $4.05 million.