There are positive signs for our real estate market with five suburbs setting new records between March and May.
Kaleen’s suburb record was broken by $35,000 with an off-market sale of a four-bedroom, owner-builder home for $1.385 million. 14 Sherlock Street was purchased in 2016 for $452,200 and was marketed at a knock-down rebuild property. The sale of this property marks the eighth property in Kaleen to exceed the $1 million price tag and the fourth time in the past year that Kaleen’s has had a record-breaking sale.
In March 2018, 10 Shannon Circuit sold at auction for $1.1 million, the record was broken again in October with a five-bedroom house at 24 Campaspe Circuit selling for $1.28 million. In January of this year, 39 Delegate Street sold for $1.35 million.
On the other side of town, Garran is no stranger to million-dollar sales with more than 60 properties surpassing the seven-figure mark. The first sale to hit this milestone was back in September 2009 selling for $1.32 million at 80 Couvreur Street. The suburb hit a new record in April at 3 Neilson Street, when it sold under the hammer for $1.86 million. The previous record was held at 10 Bonwick Place, selling just over 12 months prior in March 2018 for $1.82 million.
Two former Mr Fluffy blocks, one in Hughes and the other in Weston, now hold the sales records for their respective suburbs. What was unique about these two sales was that the respective builders, Blackett Homes and Brother Projects, decided to buck the trend of building duel-occupancies on larger blocks in order to build larger homes with backyards.
65 Buvelot Street in Weston sold prior to hitting the market for $2.01 million, thrashing the previous suburb record by $450,000. While, 8 Wylly Place in Hughes was sold in March for $1.82 million, surpassing the record by $60,000.
Last but not least, Jerrabomberra not only set a new suburb record but had its first sale over $2 million! In late March, 13 Myrtle Close sold for $2.1 million, surpassing the previous suburb record by almost $200,000. The block was purchased in 2015 for $490,000 and the build was completed in 2017. The previous suburb record was at 10 Benalla Court, which sold in 2015 for $1.905 million.