Two suburb records set: O’Malley & Gilmore

O’Malley’s suburb record was obliterated in July by $800,000 with the off-market sale of
15 Timbarra Crescent for $4.8 million. The newly-built property resides on a 2044-square-metre block and the land was purchased directly from a builder in 2013 for $1.1 million.

The median house price for O’Malley is unable to be determined due to the low volume of sales. Since the beginning of the year, the suburb has only seen seven sales – ranging from $1.25 million to $1.95 million.

The previous suburb record in O’Malley was at 20 Pindari Crescent with another off market sale. The house held the record for more than 10 years.

Over on Canberra’s south side, Gilmore’s suburb record was broken in late July by $19,000 with the sale of 8 Jeanette Place for $865,000. The house sits on a 1531-square-metre block and boasted strong competition with 11 registered bidders and 80 people in attendance.

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