Million-dollar sales have set new highs across five suburbs in Canberra in the last week, including Holder, Chisholm, Weston, Crace and Casey, bringing Canberra’s streak of suburb record-breaking sales to 60 this year.
The residential sales benchmarks are now $1.232 million in Holder, $1.31 million in Chisholm, $1.812 in Weston, $1.636 million in Crace and $1.5 million in Casey.
Selling agent Jacob Stanton of The Property Collective said he was confident the property would achieve a great result, considering the level of interest it had.
“This was one of the busiest campaigns I’ve held with the number of inquiries that came through,” he said.
The end result came down to how well the home was presented and the types of marketing used to attract buyers, Mr Stanton added.
“Selling a home is a process, and even in a hot market, the time spent preparing and presenting the property plus the various marketing strategies allowed us to make this home stand out and make a lasting impression with all types of buyers,” he said.
“It was raining and snowing earlier in the auction but when the first bid started, the sun started to come out,” said selling agent Jonathan Charles of Independent Woden. “I couldn’t have asked for a better moment than that.”
The buyers were drawn to the “warmth of the home and the swimming pool”, he said. “They had been looking for some time and the moment they saw this home online, they knew they had to have it.
“Most of the children that came through begged their parents to buy the home just for the pool.”
“We sold via private treaty because it was a unique property,” Ms Smith said. “It gave potential buyers the opportunity to make an informed decision around how much they were willing to pay without the pressure of making quick decisions on the auction floor.”
The home’s major drawcards for the eventual buyer were the built-in fish tank and the multiple living areas.
“The buyers are a local Canberra family who had been looking for the last 12 months and this house ticked all the boxes for them,” Ms Smith said.
Selling agent Ivan Tasic of Edge Real Estate said he had “high hopes” the property would set a new record for the suburb, but he was surprised at how quickly it sold after it was listed on the market.
“It was only on the market for one week,” he said. “In just one open home we received over half a dozen genuine and highly competitive offers. I have a number of buyers who are still in contact with me wanting to get into this area.
“With so many competitive offers being received within such a short timeframe, there was a significant negotiation process that was undertaken to achieve the best possible result for my clients.”
The property passed in at auction at $1.4 million in June but managed to find a buyer four weeks after the auction, Mr Morrissey said.
“We knew the house had the potential to set a new record because we sold nearby houses around the $1.3 million to $1.4 million marks, but it all came down to finding the right buyer who was willing to pay what the house was worth,” he said
Mr Morrissey said he expected more suburb records to break if the supply remained at its “all-time low”.
“It’s supply and demand 101. With nowhere to go, nothing to buy, but low interest rates and wage growth, people have more money in the bank and want to put it towards property,” he said.