8 April 2021

Market heating up in Googong with record house price

| Michael Weaver
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The property at 18 Merlin Crescent, Googong that sold for $1.385 million

The property at 18 Merlin Crescent, Googong that sold for $1.385 million. Photo: Supplied.

Googong has caught the real estate bug that has swept Canberra with a five-bedroom property selling for $1.385 million last week setting a new record for houses in the fast-growing town.

The previous record at Googong was a four-bedroom residence at Borough Ridge which sold for $1.135 million in 2020.

Just out of Googong, a sprawling four-bedroom property on 1.05 hectares was sold at auction for $1.6 million in February this year.

The most recent sale at 18 Merlin Crescent was on an 843 square-metre block where potential buyers were shown the property by appointment only.

Agent Gavin Van Zyl, of White Rhino Properties, told Region Media he wasn’t surprised the property set a new record for Googong due to very strong demand for quality houses and an extreme shortage of supply.

“The vendor was quite particular about who they had come through the property, so we had to make sure any buyers were finance-approved before showing them the property,” Mr Van Zyl said.

“I took through a buyer I’d been working with for the last couple of years.”

“I knew this property would get a really big price just because of the size of the block of land, and we had buyers who were very motivated too.”

Modern inclusion in the kitchen of the property at Merlin Crescent in Googong

Modern inclusions in the kitchen of the property at Merlin Crescent in Googong. Photo: Supplied.

The property also featured dual driveways, a theatre room, as well as a large outdoor entertaining area, double-glazed windows and a three-car garage. The kitchen featured stone benchtops and a breakfast bar, feature pendant lights and glass splashbacks plus a Bosch oven and induction cooktops.

Rural views from the outdoor area of property at Googong

The outdoor area captures rural views at Googong. Photo: Supplied.

Mr Van Zyl said the market in Googong was performing well with a growing number of potential buyers in the market.

“The traffic has definitely increased in Googong, but it’s still a lot harder to sell homes there than it is in Canberra,” he said.

“Every time you open up a Canberra home you get 30 groups through.”

Mr Van Zyl has sold more than 50 homes in the last quarter and said properties in Jerrabomberra and Karabar were also creating record sale prices.

“There is still a lot of buyer activity in the market at present, however, stock levels are extremely low and I read a report saying there were 25 per cent fewer homes for sale compared to other years,” he said.

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The average price for quality homes in Jerrabomberra and Karabar is now in the $1.5 million range. Two houses recently sold for $1.48 million and $1.525 million in Karabar last year.

Across the border, the number of record sale prices for Canberra suburbs is now 16. In September last year, there were 10 records in the space of three months, while in March this year there have been 11 suburb records.

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