A stunning transformation of a house in Farrer - whose "Canberra red" bricks were carefully preserved during demolition and reused in the new building - has set a new suburb price record after selling for an impressive $2,875,010.
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Sold on May 9, the five-bedroom home at 109 Hawkesbury Crescent eclipsed Farrer's previous record by $25,000. It was previously held by another house on the same street - a five-bedroom, two-bathroom home at number 137, which sold for $2.85 million in August 2023.
Canberra's median house price is currently $1,049,719, up 1.1 per cent year-on-year, according to Domain data.
Agent Sam Pearson of Ray White Canberra said the recently sold Farrer property had undergone a major renovation and extension, which attracted strong interest from prospective buyers.
"Once the formal campaign began, [our] open homes would regularly have 50-plus groups through," he said.
"Two parties had shown strong and continuing interest in the property from early in the campaign, and one of those were the eventual buyers."
Set on more than 1200 square metres and surrounded by lush mature gardens, the home's dramatic facade of reclaimed red bricks and Colorbond cladding stands out on the street.
Internally, the spacious layout includes multiple living rooms, a separate study, a mudroom, a custom wine cellar, and an outdoor kitchen and entertaining area. Two of the five bedrooms have en suites.
The renovation included features such as smart-home lighting, touch LED mirrors, three-phase power for EV charging, and garaging for up to six vehicles.
Pearson said the vendors were thrilled with the sale result and were pleased a local family with young children would be moving in to enjoy the home's high-quality finishes and inclusions.
"I think the strong result achieved for 109 Hawkesbury Crescent shows that the current property market is resilient, especially for turnkey products in desirable areas," he said.
"After this sale in Farrer, and another recent sale in Yarralumla, I can see the demand for turnkey and fully renovated properties is still high, with strong prices being achieved."
According to Allhomes data, other recently sold properties in the area include a three-bedroom home at 7 Sutton Place, which sold for $1.09 million on May 3, and another three-bedroom home at 9 Pridham Street, which fetched $1,107,500 in March.
