A five-bedroom home in Pearce has quietly broken the suburb record after it sold for more than $3 million, surpassing the previous suburb benchmark by more than $700,000.
Allhomes understands the property sold for more than $3 million in recent weeks.
According to government records, No. 38 Parkhill Street last sold for $885,000 in 2008. Since then, the property was knocked down and rebuilt.
While unable to speak on the latest sale, Mr Sanfrancesco said current buyer activity and interest for properties more than $2 million has been “extremely high and the market has been more active now than in previous years”.
Mr Sanfrancesco’s name is synonymous with high-end homes and record-breaking sales. This Pearce home makes it his fourth record-breaking transaction in 2020 alone.
The property in Pearce sits on 1924 square metres of land and backs out onto Mount Taylor Nature Reserve.
Other features of the property include a personal library, a decked-out private cinema with a built-in bar and a five-car basement garage with plenty of storage space.
Mr Wolens was surprised the record hadn’t been broken in the past few years but said this sale was a testament to the level of activity Canberra had seen recently.
“The market is quite strong at the moment and it’s been gaining momentum for the past two years,” Mr Wolens said.
“In every suburb, there’s always a home that is of high-calibre and is worthy of such an accolade and I’ve seen a number of homes in Pearce that could’ve beaten 22 Sheehan Street’s sale but they weren’t up for sale.”