Gungahlin property hits record $2.01m sale price

The inner suburbs have always attracted strong sales and last weekend was no exception. Three $2 million-plus sales were recorded in the inner south, with several achieving a price tag of more than $1 million. This area will always remain a firm favourite among buyers of prestige property, however periphery suburbs are seeing a growing demand for high-end homes.

Recent sales in Gungahlin are a case in point. The region achieved its first $2 million-plus sale two weeks ago when a luxurious property in Nicholls sold under the hammer for $2.01 million. The sales record in the adjacent suburb of Crace was also smashed by more than $250,000, with a home on Langtree Crescent selling for $1.47 million.

With regions such as Gungahlin seeing more government spending within their town centres, buyers can get more bang for their buck, without compromising on local amenity.

Luton Properties Gungahlin director Jason Roses says the facilities in Gungahlin, including schools, shops and child care centres are some of the best in Canberra, making it an attractive option for families.

“The demand is certainly growing and becoming stronger,” Mr Roses says.

“Gungahlin is now becoming a popular area, especially with high-end houses being offered for sale and this number is growing each and every year. While the more established inner suburbs will always hold their place with more established gardens and streets and bigger blocks, Gungahlin offers bigger homes, newer homes and certainly homes that offer wow factor.”

Mr Roses says more affordable land prices in Canberra’s northern district allow homeowners more money to put into the house itself.

“It would also be fair to say with many of the million-dollar-plus sales, you are buying the house first, as opposed to the block of land, which is traditionally seen in the more established suburbs,” Mr Roses says.

Peter Blackshaw Gungahlin principal Michael Braddon sold the record-breaking property in Nicholls and he says the region is seeing a strong level of enquiry as buyers are seeking high-quality properties that don’t require any work.

“These days, people are time poor,” Mr Braddon says.

“To have a property with everything done that offers the wow factor and you can move straight in and relax – those sort of properties are attracting a lot more interest. With the lack of new homes and land available, people are starting to warm towards Gungahlin.”

A new market has also emerged in Gungahlin, with  those downsizing seeking high-end apartments in the area. It’s a market that has been untapped until recent months.

POD Projects Group managing director Paul O’Donnell says the company’s first penthouse in the Mezzo development was purchased on the day it was released for $700,000.

“It was the first true penthouse-style apartment in Gungahlin,” Mr O’Donnell says.

“The buyers wanted to stay in Gungahlin but something like this had never been offered before. They were stoked to buy a high-quality, high-rise property with views and that level of amenity.

“Gungahlin is becoming sought after on every level – apartments, townhouses and high-end homes.”

Real Estate Institute ACT president Frank Pompeani​ says districts on the fringes  of the inner suburbs, such as Woden and Belconnen have also seen strong sales in recent months. High-end properties sprinkled throughout these suburban centres are  on demand from buyers.

“These are large homes on good-sized blocks and you couldn’t over capitalise if you’re doing extensions,” Mr Pompeani says.

“They’re still within 10 to 15 minutes of the city with their own shopping precincts and good private and public schooling.”

Mr Roses says the high-end market is growing throughout Canberra, however stock levels aren’t keeping up with the current demand. He says there are plenty of buyers looking to spend big money, however there are few homes that meet their requirements.

“I think in the next few years we will see even bigger and more impressive homes being built,” Mr Roses says.

“I would also encourage builders out there to start thinking about building more luxurious homes as there is certainly a market for it.”

Suburbs on the rise

• Crace: Buoyed by a great local centre and a population that prides itself on a strong sense of community, the Gungahlin suburb of Crace has seen strong growth across all sectors of the market. Million-dollar-plus sales are regularly achieved and it’s certainly one to watch as this five-year-old becomes more established.

• Isaacs: Sitting alongside the diplomatic centre of O’Malley, this Woden Valley suburb offers quality homes in a bushland setting. The suburb achieved its highest sales price in five years last weekend when a resort-style property sold under the hammer for $1.4 million.

• McKellar: This suburb was established in the early 1980s, but when  it expanded about 10 years ago it brought a new level of housing to the area. McKellar achieved the million-dollar milestone mid-2014, while a number of other strong sales have been recorded in the Belconnen suburb this year.

• Gungahlin Town Centre: Development throughout Gungahlin is drawing many residents to its centre. While apartments along Flemington Road have attracted strong interest, new developments within the town centre itself have been exceptional. The Mezzo and Uptown developments are notable examples.

Space for all in Forde

Sharon Green and Phil Lopez have purchased the ideal home for their family in the Gungahlin suburb of Forde.

Ms Green and Mr Lopez each have two children ranging from the ages of four to 15. The move will see the families live together for the first time and they needed something large for the four children.

“The kids are at school in Harrison and we were needing to find something in the area,” Ms Green says.

Forde was the perfect fit for the family. Ms Green says she liked that it was an established suburb and the home  close to both the shops and Mulligans Flat Woodland Sanctuary.

Situated on an 840-square-metre block, the elegant home features segregated bedrooms and an array of living spaces. It includes a range of features that were a hit with the adults and kids alike.

“It ticked all the boxes,” Ms Green says.

“The older kids love the fact that they’ve got their own lounge room upstairs and they all love the pool. There’s also space to put a new trampoline in the backyard before we move in.”

Forde was established just seven years ago but in that time it has become one of the fastest growing suburbs in the country. The suburb has been popular with families who are drawn to its extensive parks, quality amenity and strong community spirit. 

Luxury family living with room to move

92 Langtree Crescent, Crace
$1.25 million-plus

This stunning contemporary home demonstrates why more high-end buyers are turning to Gungahlin for property.

Situated in Crace, among other high-quality homes, this four-bedroom property features a range of modern inclusions and extras that will impress the most discerning buyer.

Entry is via a 2.7-metre-high glass front door into the foyer, with its 7.2-metre ceiling. It’s a grand introduction to the home. It features a tiled blade wall and Sydney blue gum staircase, which leads the way to open-plan living and a magnificent gourmet kitchen.

The kitchen is well equipped with state-of-the-art appliances and an integrated Liebherr fridge and freezer. Bifold doors open up to a covered al fresco area and timber deck complete with a custom-made, built-in kitchen.

All four bedrooms are complete with built-in wardrobes and timber flooring, while the segregated master bedroom provides the ultimate parents’ retreat. It includes a large, private balcony, his and hers walk-in wardrobe and a designer en suite with a free-standing bath.

With more than 440 square metres of living space under the roofline, there’s something here for every member of the family, including a spectacular cinema. The ground floor features garaging space for four cars and expansive storage space.

No. 92 Langtree Crescent will be auctioned on Saturday, December 5 at 10am, on site. Phone Luton Properties Gungahlin agent Jason Roses on 0431 419 847. Inspect: Saturday, 11.15am-noon and Wednesday, 5-5.45pm. EER: 7