ACT property prices reach new highs in November

Back

ACT property prices high

The ACT property market has had another cracker of a month with house price records continuing to tumble across the Territory in November.

CoreLogic’s latest auction update reported 184 total auctions across Canberra last week, its highest ever recorded volume, and a clearance rate of 88.2 per cent, up from 85.7 per cent the previous week.

The ACT’s market continues to grow from strength to strength with no sign of slowing down just yet, even with the traditional Christmas lull just around the corner.

For suburb price records, the Ngunnawal five-bedroom property at 19 Tanderra Crescent hit a new high for the suburb, selling for $2,450,000.

McGrath Canberra agent Kris Hellier said he told his colleagues at the beginning of the four-week campaign that he wouldn’t be surprised if the property beat the record.

“The auction at Tanderra was one of the best I’ve ever been a part of. Throughout the campaign, we had, I believe, 164 groups that inspected the home and had 16 registered buyers on the day with around 130 people total at the auction,” Mr Hellier said.

“This one broke the record by over a million dollars and is now the second most expensive in the region. The home is worthy to be on top of the Gungahlin market and we introduced buyers from across the whole of Canberra – we even got people from the southside to check it out.”

The previous Ngunnawal record was achieved by Justin Taylor, also from McGrath Canberra, in April 2017 for $1,402,500, just down the street at 22 Tanderra Crescent.

Mr Hellier said there’s one standout home in every area each year, and 19 Tanderra Crescent was the chosen one for 2021.

With such high auction volumes and numbers of suburb price records being broken each month, it feels as though the Canberra market may not be slowing down for Christmas.

“We’re in a funny period in the market post lockdown. There’s an influx in homes coming onto the market, and from mine and my team’s side, I haven’t seen it slow down too much. It feels like there’s that fear of missing out from buyers,” he said.

“Last weekend we did have one property pass at auction, but this year myself and my team have had exceptional auctions and prices achieved. It maybe feels like it’s leveling off a little bit.”

Another notable record this month was in Hackett where a five-bedroom property at 103 Mackenzie Street sold for $2,120,000, beating the previous top price by $119,000.

-Abbey Halter

Find up-to-date local news, lifestyle, entertainment, sports and more at Canberra Weekly.

Related News

Home ownership dream eluding young Aussies

About this time last year, I bumped into my old mate...

Idyllic in Isaacs

With breathtaking 180-degree views across Canberra and the surrounding mountain...

New affordable housing options

The new ‘Flexi-living Homes’ in the fast-growing suburb of Strathnairn...