The Canberra homes cracking the $3 million club

Two families have forked out more than $3 million each at auction to secure prestige properties in central Canberra.

Both houses in Campbell were sold by Blackshaw Manuka’s prestige agent, Mario Sanfrancesco.

The four-bedroom, five-bathroom residence at 27 Vasey Crescent sold immediately after auction for $3.554 million last weekend, while the four-bedroom, three-bathroom home at 28 Gellibrand Street fetched $3.35 million under the hammer the week prior.

Sanfrancesco said both families were upgrading to bigger and better homes.

Auction

28 Gellibrand Street, Campbell ACT 2612

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Set on 936 square metres, the Vasey Crescent house offers breathtaking city views, a saltwater pool and spa, and a host of features, including a home theatre, wine cellar and billiards space.

Expansive full-height windows frame 180-degree panoramas from Mount Ainslie to Black Mountain, while multiple outdoor entertaining areas, including an outdoor kitchen and a covered balcony, overlook a productive orchard.

Designed by architect Terry Ring, the Gellibrand Street residence is set on nearly 1000 square metres and backs onto a nature reserve. The home offers grand formal and casual living spaces, a concealed wine room, and a seamless indoor-outdoor flow.

Sanfrancesco said there had been a notable shift in buyer sentiment this year.

“We’ve seen more activity this year, resulting in the best four weeks our team has experienced in about five months,” he said.

“Enquiry levels are strong, and the energy has changed. Last year, buyers had hit pause, but they are now realising they probably can’t wait much longer.”

Canberra auctions recorded a clearance rate of 60 per cent over the past two weeks, up slightly on the same time last year.