Auction Watch: Canberra clearance rate improves as large crowds go to auction

Hordes of Canberrans flocked to auctions across the capital on Saturday as almost 40 properties went under the hammer.

Well over 150 people gathered in Weetangera to watch 29 Packer Street sell for $1.32 million.

Peter Blackshaw Real Estate Belconnen agent Peter Walker said 11 parties registered to bid for the five-bedroom house, which sold “well over reserve” to a local, multi-generational family.

“There was some very spirited bidding,” he said. “People have realised there are really good neighbourhoods, really good communities [in the area].”

Extra feet on the ground may have contributed to a much higher clearance rate of 75 per cent in the ACT, up from last week’s 64 per cent and the previous week’s 57 per cent, according to Australian Property Monitors

A distinct, Hamptons-inspired house at 37 Fitchett Street in Garran also drew huge interest, with more than 70 people, including three registered bidders, turning out.

An opening bid of $1 million slowly climbed to $1,010,000 before passing in at $1,030,000.

The property was under negotiation Saturday afternoon.

Cream Residential agent Jane Kusetic​ said 164 people had inspected the property, with 27 requesting contracts.

She described the four-bedroom house as “one in a million”.

“It’s not your standard Canberra house,” she said “It has quality features and inclusions. It’s just gorgeous.”

Ms Kusetic, who lives in Garran, said interest in the suburb and surrounding area had surged in the past 18 months.

“Buyer demand is always high in Woden,” she said. “Garran, Hughes, Curtin – the 2605 postcode – has had a huge increase in interest.”

“The auction market is bringing strong results – there’s good, strong interest. I have too many buyers and not enough houses.”

A four-bedroom house in Narrabundah also went under the hammer on Saturday, selling for close to $1 million.

Ray White Kingston agent Cory McPherson said about 50 people gathered to watch number 13 Sprent Street sell for $945,000.

Mr McPherson said the successful buyer was from Canberra however, interest in the property and the broader region spread further afield.

“We’re seeing really increased demand, particularly in Narrabundah with the schools – it’s all about people trying to get into the school catchment areas,” he said. 

“We’ve had a lot of overseas buyers making enquiries, not just locals.”

A house at 10 Pedder Street in O’Connor sold for $1.67 million via Elders Real Estate Belconnen – the most expensive sale of the day.