10 Canberra suburb records broken over September quarter
The past three months from July to September have been a record-breaking time for the Canberra property market, with stellar sales setting new benchmarks in 10 suburbs.
In some cases, two suburb records were broken in one day.
Domain senior research analyst Dr Nicola Powell said the “lack of choice” in new listings had pushed buyers into a competitive space.
“That stock shortage is driving prices up and breaking suburb records,” Dr Powell said.
“When we look at who are the active buyers in the market, I think those that are upsizing are a really key market segment. They’ve been less impacted by COVID and the job and wage losses associated with the pandemic.”
Mark Wolens of Independent Woden, who broke Banks’ suburb record in September and the Gilmore record in June, said the recent sales were a testament to the high buyer demand in the housing market.
“It’s a competitive dynamic right now … because our unemployment rate hasn’t been hit as hard as other cities. The buyer demand has increased amid COVID,” he said.
“Anytime we get a good representation of a home on the market, there’s now a chance that it could set a suburb benchmark.”
Mr Wolens said renovated and ready-to-move-in homes with spacious entertaining spaces were drawcards for a lot of buyers, particularly as more people worked remotely.
“People want to entertain effortlessly at home, that market of buyers has always been there but I think it’s a little more forthcoming at the moment,” he said.
Internal Allhomes data revealed the 10 properties that broke suburb records in the last quarter had thousands of views across both the Allhomes website and app and a high engagement level*.
New suburb records in August:
Theodore
Sold for: $890,000
Via: Auction
Surpassed previous record by: $70,000
Views: 5280
Engagement: 131,884
Latham
Sold for: $814,000
Via: Auction
Surpassed previous record by: $9000
Views: 12,262
Engagement: 209,882
Moncrieff
Sold for: $1.08 million
Via: Prior to auction
Surpassed previous record by: $40,000
Views: 3997
Engagement: 92,183
This house sold prior to auction after only four days on market.
McKellar
Sold for: 1.28 million
Via: Private negotiation
Surpassed previous record by: $70,000
Views: 4487
Engagement: 77,378
This house sold prior to auction after only four days on market.
Hawker
Sold for: $2.04 million
Via: Private negotiation
Surpassed the previous record by: $515,000
Views: 20,684 views
Engagement: 385,425
Pearce**
Sold for: $3 million +
Via: Private negotiation
Surpassed the previous record by: more than $700,000
Nicholls
Sold for: $2.025 million
Via: Auction
Surpassed the previous record by: $15,000.
Views: 16,573
Engagement: 366,937
New suburb records in September:
Banks
Sold for: $1.21 million
Via: Auction
Surpassed the previous record by: $80,000
Views: 8268
Engagement: 148,124
Fadden
Sold for: $1.3 million
Via: Private negotiation
Surpassed the previous record by: $80,000
Views: 6818
Engagement: 147,536
This house sold in less than one week.
Rivett
Sold for $1.205 million
Via: Auction
Surpassed the previous record by: $5000
Views: 6036
Engagement: 111,984
