Canberra auctions thrive during grand final week,
Grand final week kicked off nationwide, bringing excitement not only on the field but also in the property market.
As fans gathered to watch the AFL’s big game, Canberra’s auction scene experienced notable successes, with impressive results reported.
On Saturday, Luton Properties’ Tim and Justine Burke conducted an auction for a well-presented ex-government house at 13 Blackwood Terrace.
The property sold under the hammer for an impressive $865,000, showcasing strong interest from buyers in the area.
Tim Burke mentioned that the auction attracted six registered bidders, demonstrating a mix of buyer types in attendance.
Interestingly, an investor ultimately placed the winning bid to secure this sought-after property in a competitive environment.
Set on a generous 1,041-square-metre block, the three-bedroom house has been stylishly updated to appeal to modern buyers.
Moreover, it is conveniently located within walking distance of local shops and schools, enhancing its attractiveness to families.
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Burke also successfully sold the four-bedroom house at 8 Gulgong Place, Fisher, prior to the auction on Thursday.
However, the sale amount remains undisclosed, indicating a private transaction that highlights the competitive market conditions.
In Wanniassa, an elegant four-bedroom house located at 113 Langdon Avenue attracted four registered bidders during the auction on Saturday.
Unfortunately, the property was passed in, which reflects the challenges some homes face in achieving a sale price.
VERV Property’s Karen Brill mentioned that there was considerable interest in this house, which is now listed for around $980,000.
Situated in a desirable pocket near the Erindale shops, this home boasts functional, sun-drenched accommodation that appeals to many buyers.
Notably, it includes a renovated kitchen, open-plan living and dining spaces, as well as two bathrooms for added convenience.
Additionally, the expansive outdoor entertainment area features a spa, making it an attractive option for families and entertainers alike.
In Red Hill, the striking four-bedroom residence at 18 Pelsart Street sold within a week of being listed on the market.
Steve Lowe of Agent Team stated that the buyer had been searching for a home and quickly made an offer upon viewing.
The property exchanged hands on Wednesday night, showcasing the rapid pace of transactions in this sought-after neighborhood.
“It was an unusual property due to its long-term lease,” Lowe explained, noting the unique aspects of this particular home.
However, it was beautifully presented, located in one of Red Hill’s most desirable areas close to leading schools and amenities.
The property is currently leased until early 2026, providing a solid rental income projected to increase to $93,600 annually.
This translates to approximately $1,800 per week, which is appealing for investors looking for reliable income sources.
Stand-out results during the week included a four-bedroom, three-bathroom house at 29 Mileham Street, MacGregor, selling for $1.1 million.
This successful sale was facilitated through Jonny Warren Properties, indicating continued buyer interest in the region’s real estate market.
Additionally, a three-bedroom townhouse at 10/41 Pethebridge Street, Pearce, sold through Ray White for an impressive $847,000.
In total, last week recorded 31 sales, although clearance rates dipped to 43 percent, slightly lower than the previous year’s 47 percent.
