Ultra-modern renovated family home sets new sales benchmark for Latham

Opting for a thorough make-over, rather than knocking down and rebuilding, paid off for the former owners of this impressive six-bedroom, four-bathroom family home on Macrossan Crescent, which set a new benchmark price for Latham in Canberra’s inner-west.

The laborious process of three renovations plus an extension left the property virtually unrecognisable, with its sparkling and ultra-modern interiors catching the eye of many interested buyers who walked through the doors ahead of auction day late last year.

On nearly 1000 square metres of landscaped gardens, the home stood out with features such as an in-ground pool, oversized double garage, a stunning chef’s kitchen and its seamless flow connecting the indoors with the outdoor spaces.

Allhomes sat down with agent Nick Paine of Luton Properties Gungahlin to chat about how the property sold in the current market.

Why did the vendors decide to sell?

They had finished building a new home, so it timed well for them to be able to sell this and settle when the new property was completed.

How long was the home on the market?

This property was on the market for three weeks and sold at auction to an interstate family on December 9 after really competitive bidding. The buyers had sent a family member through to look several times but only saw it themselves for the first time the day before the auction.

What made this home attractive to prospective buyers?

The property … had never come up before in Latham, so there was plenty of interest around that. The home is big too, which suited families with two or more children who were actively looking.

It’s also a very aesthetically pleasing house. The finishes and textures were unusual, so that always brings a crowd.

Was this a positive result in the current market?

I think this one would have been a great result in any market. Any time you set a new benchmark is good, but to do it by $400,000 was special.

What should buyers and sellers be aware of in the property market as we start 2024?

From early indications, it looks as though stock levels will pick up, giving buyers more choice and perhaps giving sellers a little more competition. In saying that, less volatility with interest rates should give buyers some added confidence when searching for their new home.