Downer suburb record smashed by more than $300,000

30 Swinden Street in Downer sold for $1,385,000.30 Swinden Street in Downer sold for $1,385,000.

The Downer suburb record was broken for the third time this year with the sale of a brand new house at 30 Swinden Street on Saturday.

The house smashed the suburb record by more than $300,000, selling for $1,385,000 under the hammer.

It was among the first new homes on a former Mr Fluffy blocks to be offered for sale. The block sold in April 2016 for $592,000.

The four-bedroom, three-bathroom home offered 270 square metres of living and no expense was spared on the build by Benemma Constructions.

Belle Property Kingston agent Rob Cappuccio said the quality of the home attracted buyers from across Canberra.

“It was not just people looking to purchase in Downer,” Mr Cappuccio said.

“It got the attention of people who were looking to buy anywhere at all in north Canberra, as well as others who had been looking in the inner south.”

Features included double-glazed windows, Victorian spotted gum hardwood floors and a double-sided fireplace separating the formal and informal living spaces.

30 Swinden Street in Downer.

30 Swinden Street in Downer.

Mr Cappuccio said there was an opportunity for buyers of former Mr Fluffy blocks to capitalise on the area’s growing popularity.

“Downer and Watson haven’t seen the same level of growth in other inner north suburbs,” Mr Cappuccio said.

“Buyers will start focusing their attention where they can still find value.”

The Downer suburb record was broken in March when a four-bedroom house at 96 Melba Place sold for $1,009,500 – the suburb’s first million-dollar sale.

That record was smashed just days later when a renovated property at 18 Burn Place sold for $1,080,300.

Mr Cappuccio said the light rail, which is just a short walk from Swinden Street, has also made Downer more attractive to buyers.

Property Council ACT executive director Adina Cirson said there was a significant increase in demand in the inner north and inner south.

“Building approvals and applications for development have significantly increased over the last 12 months right across the city, but particularly along the adjoining suburbs to major transport corridors, delivering greater housing choice in major renewal areas like Downer,” Ms Cirson said.