Canberra’s auction market is gaining momentum,
Canberra’s auction market is heating up as summer approaches, yet buyers remain quite selective in their choices.
While there is renewed activity, many potential purchasers are opting to wait for the right property.
Consequently, this leads to a rise in sales occurring post-auction as vendors adapt their strategies accordingly.
Clearance rates have improved for the second consecutive week, with last weekend recording a 54 percent rate.
This marks an increase from the 49 percent clearance rate recorded a year ago.
Ray White’s Treston Bamber successfully sold both his listings today, including a stunning architect-designed residence at 49 Arndell Street, Macquarie.
This property attracted four registered bidders and ultimately sold for $1.36 million.
Bamber noted a growing interest in renovated properties, particularly those that outperform homes needing significant work.
Moreover, home loan applications have surged over the past few months, indicating heightened buyer interest.
However, buyers are still willing to wait for the perfect property that meets their needs.
In one of Dickson’s most desirable areas, the charming and unique residence at 47 Dutton Street sold under the hammer for $1.36 million.
Bastion Property Group’s David Stokes mentioned that the sellers had owned this ex-government property since the 1960s.
He added, “It was a unique home, so it attracted strong interest, with around 30 to 35 groups visiting.”
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In Braddon, the expansive two-level residence at 13 Farrer Street was passed in at auction with a bid of $2.3 million.
Carter and Co agent Nik Brozinic is currently negotiating with the top bidder and remains hopeful for a sale.
He anticipates the final price will be around the mid-$2.5 million mark on the day of negotiation.
Set behind a private hedge, this impressive house sits on a sprawling 1022-square-metre landscaped site, offering ample space.
The property features three living areas, four bedrooms, two bathrooms, an in-ground swimming pool, and a double garage.
In Monash, the well-presented house at 5 Fisk Street was also passed in through Luton Properties and is now listed.
Currently, the asking price for this property is set at $889,000, making it an attractive option for buyers.
Situated on a quiet street, this home is located on an 856-square-metre RZ2 zoned site, providing additional potential.
The freshly painted house boasts a generous floor plan, complete with four bedrooms and two bathrooms for comfort.
Agent Josh Wilson noted that the market remains somewhat volatile, yet they are achieving some quick sales at good prices.
During the week, Moria Maloney from Maloney’s Property successfully sold two properties in Ainslie at auction, demonstrating strong activity.
Among these, the two-bedroom house at 3 Gillen Street sold for an impressive $1.05 million, attracting significant interest.
Additionally, 11 Lalor Street also found a buyer and sold for $910,000, indicating healthy demand in the area.
Ray White sold a three-bedroom townhouse at 25/27 Cromwell Circuit, Isabella Plains, for $652,000, highlighting ongoing buyer interest.
Furthermore, a three-bedroom house at 11 Cumbrae Place, Kambah, sold for $645,000, reflecting a competitive market environment.
Lastly, the three-bedroom property at 1610/49 Furzer Street, Phillip, was advertised at $735,000 plus and transacted for $755,000.
