$4.602m sale makes this the most expensive house ever sold north of the lake

A group of Canberrans clad in beanies and puffer jackets witnessed something pretty special in the driveway of 10 Cobby Street, Campbell, last week - the highest price ever achieved for a home north of the lake.

Four “spirited” bidders joined the contest for the property, with the winning family paying $4.602 million for the five-bedroom, three-bathroom home backing onto Mount Ainslie Nature Reserve.

It was the size of the block - more than half an acre - and the views from the high side of Cobby Street that drove the price to record levels according to sales agent and auctioneer Peter Walker from Ray White Canberra. 

Peter says the tennis court and pool were, of course, popular, but the interior of the house - which was renovated by the current sellers over several years - was just as popular.

“We always figured it would break the record for the inner north and north side of Canberra,” Peter says.

“The main thing that people liked was just the fluidity of those living spaces, and the fact that they were segregated yet open plan and you had that unimpeded outlook over the tennis court and the backyard.

“People liked the fact it was a well built, robust home and had been tastefully done and you had that downstairs rumpus room as well as the upstairs living spaces.”

More than 100 inspections were undertaken of 10 Cobby Street during its 20 day sale campaign. Peter said while many properties are described as “a rare offering”, 10 Cobby Street could almost take the title of “the rarest”.

“There are homes that probably could command a similar price - they're just not being offered for sale,” he says.

“I’ve been into homes in Reid which would probably be worth a comparable amount because people have done quite extraordinary things to them - built substantial basements and done a number of things like that.

“You’ve got others [in the inner north] who’ve bought a block and done a knockdown rebuild, and now have extraordinary homes.

“But they’re there for the long term - they’re not going to sell anytime soon.”

The current owners of 10 Cobby Street, who have lived in Campbell for more than 20 years, are looking to start a new chapter of their lives outside of Canberra. The new owners are a family, who fell in love with the size of the block.