Properties at this level do not come on the market every day – an executive residence where luxury meets functionality – but the pre-auction record-breaking suburb price was startling.
The four-bedroom, three-bathroom home at 23 Wittunga Crescent, Banks, sold for $1,470,000, almost $100,000 more than the previous record set in June.
Set for auction later this month, the home was on the market for only a week when a local buyer put in the winning offer.
Sitting on an 881 square metre block, the home is located in one of the best streets in the area with views to the northwest and backing onto a reserve, all within minutes of local schools, shops and public transport.
The property was built in 2015 after the original home was extensively damaged in a house fire. It last sold in 2019 for $980,000.
Selling agent Colin McIntyre of McIntyre Property said the property’s design and quality proved a drawcard for buyers.
“This is probably one of the newer homes in the area and the rebuild is of extremely high quality. It was very well done,” he said.
Mr McIntyre said the kitchen is definitely the hub of the home in this property and was one of the main reasons the current owners were so attracted to the home when they purchased it.
“This home is both well built and modern, and the cabinetry is top class,” Mr McIntryre said.
The kitchen offers a generous island bench, stone marble benchtops, farmhouse sink, glass display cupboards and ample storage. There is also a massive walk-in butler’s pantry.
The home has a range of indoor and outdoor living and dining options, a master bedroom complete with a walk-in wardrobe and en suite, and a large home office. The three remaining bedrooms are all generously sized with built-in robes.
The new owners are from the area and purchased the home as an investment property.
According to CoreLogic data, the median sales price for houses in the area was $652,750 as at June 2021, while the median asking rent for Banks is $507 per week.
With a shortage of stock on the market, Mr McIntyre expects the record Canberra sales to continue.
Mr McIntyre said recently eased restrictions on property inspections was helping to bring more listings back to the market.
“We are starting to see more listings now that we can start taking buyers through properties, but the market as a whole is skyrocketing, so they are only lasting on the market for about a week.”