What makes a record-breaking home in Canberra?

Canberra saw suburb record prices tumble like ninepins during the height of the pandemic, but rising interest rates, tightened lending and inflation have ushered in buyer caution.

Are record prices consigned to history – or are they just biding their time?

Kostya Logvinov of Town Residential says potential record-breaking homes are seeded throughout Canberra.

“These are usually big homes on big blocks, set up with everything potential buyers want with plenty of extras like great entertaining areas with pools,” he says.

“But they usually don’t come to market until the kids leave home – that’s when price records are likely to be made.” 

Logvinov says the other driver of potential record prices is sites that have seen knockdowns and rebuilds.

“They can easily set the conditions for a suburb record price after you factor in the price of the demolition and new build costs,” he says. 

Miriana Cavic of Luton Properties Manuka says buyers will always place a premium on quality, differentiated homes.

“There are many factors that make a property stand out and increase the emotional connection with potential buyers,” she says.

“Great design is one of the keys; it communicates the feel of a home. Other factors include light, a sense of space and attention to detail in the finishes, fixtures and fittings. It all adds up.”

Cavic says the more special a home, the more intense the competition to acquire and that was the formula for a potential record-breaking property.

• Cool customers: After COVID pushed house prices to new heights during the past two years, rising interest rates, tighter lending and inflation have ushered in a reality check on property values.
• Quality is always sought after: Rarity and competition to acquire are two potential drivers of record prices. Homes that stand apart because of any number of desirable attributes position themselves for competitive bidding.
• It’s in the detail: The winning equation is somewhere within home design, block size, multiple living areas, work-from-home spaces, amazing kitchens and bathrooms, year-round entertaining spaces and impressive pools.

Check out our top picks for sale:

Casey

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Those looking for a balanced lifestyle may be drawn to this contemporary home in Casey that delivers stylish living on a low-maintenance block.

This builder’s own residence, positioned opposite the Kinleyside Nature Reserve, presents an appealing facade from the street that’s all pleasing angles, which sharply define it against the skyline.

Inside, the story is all about space, light and detailed fixtures, fittings and finishes – as you would expect from a builder’s home.

Entry leads onto a natural timber flooring system that maps the living zones flowing into the central family hub. The highlight here, of course, is the kitchen, which impresses with its sleek, clean lines that complement the home’s neutral palette.

A stone-topped island bench doubles as a breakfast bar and there’s a strong line-up of Miele appliances. Other features include timber highlights, soft-close drawers and plenty of storage. 

While the house will appeal to families, downsizers will appreciate the siting of the main suite on this level. Buyers will give a big tick to its large built-in wardrobe and luxe en suite bathroom. The suite has easy access to the family room and a study. The balance of the bedrooms is upstairs; they’re generous in size, and share their own living area.

Under the residence is a bonus multipurpose room with ventilation, roller door, power and insulation.

The home is close to Casey Market Town and local schools.

Price guide: $1.4 million+

Auction: 10am, October 22

Agent: Town Residential, Kostya Logvinov 0421 485 758

Or try these:

Gordon

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Price guide: $950,000+

Auction: 10:30am, October 22

Agent: HIVE Property, Steve Langford 0451 115 122

Kambah

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Price guide: $1.4 million-$1.5 million

Private sale

Agent: Luton Properties Tuggeranong, Michael Martin 0411 748 805

Jerrabomberra

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Price guide: $1.75 million-$1.85 million

Private sale

Agent: Ian McNamee & Partners Queanbeyan/Jerrabomberra/Canberra, Lucy McGregor 0433 310 366