Former DHA home sets house price record in Franklin

Canberra is currently a buyer’s market, but strong prices – and even record-breaking sales – are still being achieved.

A former Defence Housing Australia (DHA) brick house at 5 Newell Street in Franklin sold on October 17 for $1.055 million prior to auction, setting a price record for a three-bedroom property in the suburb.

“Former DHA homes are typically in high demand due to their excellent condition, often freshly painted, re-carpeted, and presented in exceptional order,” said agent Jess Smith of Stone Real Estate.

“We had strong interest in the house with more than 43 groups through and four pre-auction offers.

“The property sold within two weeks of the campaign commencing, with the price surpassing all expectations.”

SOLD - $1,055,000

5 Newell Street, Franklin ACT 2913

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Smith said the buyers were a young couple who already lived in the area and were upsizing.

The property was set on a meticulously maintained 615-square-metre site and included two light-filled living spaces, three bedrooms and two bathrooms.

Smith acknowledged the challenges of the current market but pointed to this result as proof that well-maintained properties in sought-after suburbs were still commanding top prices.

“It’s definitely a more difficult market to be working in, but we are still seeing record prices achieved for properties in great locations and in great order,” she added.

The median house price for Franklin dipped by 0.7 per cent over the past year and now sits at $990,250, according to Domain data.

Unit prices also dropped by 4.3 per cent over the same period, to a median price of $510,000.