Properties in Gordon and Bonner set suburbs' first $2 million sales

Interest rate rises have done little to deter some buyers after houses in Gordon and Bonner sold this week and set the first $2 million sales in their respective suburbs.

The residential benchmark now sits at $2 million in Gordon, in the Tuggeranong region, and $2.045 million in Bonner, in Gungahlin.

The residence at 39 Clem Hill Street, Gordon, is the ultimate entertainer’s home, according to sales agent Josh Yewdall of Belle Property Canberra.

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“This was a unique home … there’s none like it in Canberra. This was elevated, with great views, a pool and an entertainment area,” he said.

“Houses like this are not found often on this end of Tuggeranong … it’s very hard to appreciate every single thing until you spend time there.”

The property sits on more than 1500 square metres of land and has six bedrooms, multiple living areas and terraces, and mature gardens.

“Houses like this are not often found on this end of Tuggeranong,” Yewdall said.

Government records show the property last sold in 2009 for $815,000. 

Yewdall said the new home owner is a restaurateur who lives in the region and “saw the quality of the home and the value in it”.

Gordon’s previous record was set by the house at 21 Sturrock Place, another six-bedroom property, which sold for $1.89 million in 2021. This latest sale surpassed that by $110,000.

Elsewhere, the four-bedroom house at 9 Bert Groves Street, Bonner, beat its suburb record by $125,000 when it sold prior to auction.

Kris Hellier of Stone Gungahlin said he was confident the property would set a new benchmark for Bonner.

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“I always thought it had the potential to set the record … just the sheer quality of the home warranted that price and I knew the right buyers would pay for the home,” he said.

“And I’d known the buyers for some time, who have been looking for a property on and off for a while now. We had five open-home inspections and they came to all five – it was just the right home for them.”

No. 9 Bert Groves Street boasts a courtyard and fire pit area, a stunning kitchen with a spacious butler’s pantry and sizeable bedrooms.

“The auction campaign gave us enough time to introduce buyers to the property and allowed them to make an informed decision … we thought the property would sell for north of $2 million and the buyers were willing to offer that to avoid it going to auction,” Hellier added.

The sales come after the Reserve Bank of Australia raised the cash rate again, by 25 basis points to 4.1 per cent. Hellier said while interest rates had increased, the level of supply had stabilised the market.

“We’re looking at the lowest supply in five years, which has counteracted that rate rise, and … auction clearance rates are a little higher this month and we’re seeing property prices stabilise,” he said. 

Yewdall echoed his comments, anticipating a busy winter season.

“The traffic we’re getting now is probably what we should’ve been getting in March but the whole interest rate rises and instability has happened,” he said. “So June and probably July will be strong few months, which are usually quite quiet.”