The suburb price record in Flynn was broken during the past weekend, with 22 Love Street selling for $1,300,500 – breaking the previous record of $1,250,000.
McGrath Real Estate sales agent Natalie Kokic Schmidt ran a short marketing campaign, with 112 groups inspecting the home prior to the auction on Saturday, 31 October.
Five registered bidders drove up the price during the auction, starting with bids going up in increments of $10,000, moving to two bidders vying against each other with bids of $500 and $100, until the property sold for the record-breaking price.
“Both the final bidders really wanted the property as much as each other because it is so well finished and so handcrafted,” said Ms Kokic Schmidt.
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The four-bedroom, two-bathroom home presented a unique offering, with the vendor’s award-winning joinery making the property a standout, said Ms Kokic Schmidt.
“The owner is a joiner and they were great reputable builders who have won a few awards so it is a quality home,” she said.
“They want their homes to be different to what everyone else is doing and they are excited to work on a new project in another area.”
Despite the inclement weather, the auction was attended by around 50 people, although numbers were restricted as it was held indoors.
“We did have to keep the numbers low,” said Ms Kokic Schmidt. “But there were people who are interested in what the market is doing who wanted to attend.”
The home was designed by Studio 187 and built by Status Living, with joinery by Created Joinery.
“We ran a short campaign because the market is quite heated at the minute and a lot of buyers have been looking for six to 12 months so it worked out really well,” said Ms Kokic Schmidt.
The home was advertised on only one local property portal, Zango, with a short duration campaign – listing on 15 October and selling on 31 October.
The latest data from CoreLogic shows Canberra house values grew 1.1 per cent in October to a median price of $737,937, and 1.9 per cent for the quarter, and 7.3 per cent for the year. House values have increased by 5.5 per cent in 2020.