Every single district of Canberra has seen a lift in the number of homes selling at auction.
The weekend’s heat may have beckoned Canberrans to the coast but many others were set on purchasing property.
Among them were four registered bidders vying for a three-bedroom house at 138 Ross Smith Crescent in Scullin, one of eight properties auctioned on Saturday.
Many of the 40 people who gathered to watch the sale were tempted to take a dip in the backyard pool but the heat wasn’t strong enough to stifle a competitive auction.
102 Lachlan Street, Macquarie. Photo: Supplied
An opening bid of $400,000 quickly climbed past $500,000.
The auction became a tight race between the original bidders and the last party to enter the fray. Strong bidding by the latter, a young professional and first home buyer, paid off – she snapped up the property for $560,000.
Luton Properties Belconnen co-director and selling agent Tim McInnes said the suburb’s location and appreciating land value made it a good bet for those looking for good capital growth.
A property at 18 Ross Smith Crescent sold for $790,000 under the hammer in November through Luton Properties Belconnen, breaking the suburb’s previous record.
Most of the weekend’s sales transpired in Canberra’s north, including another of Mr McInnes’ properties.
The four-bedroom house at 102 Lachlan Street in Macquarie attracted six registered parties and was snapped up by a young family at $885,000.
Mr McInnes said there had been strong numbers through open homes across Belconnen.
“Once the levels of housing stock increase it will be interesting to see how the market responds,” he said.
“It is still relatively tight at the minute…certainly there’s demand and we saw that today.”
Last weekend just one property was auctioned in Canberra. The four-bedroom house in Spence passed in under the hammer but sold soon after for $672,000.