Auction Watch: Canberra Tocumwal house in O'Connor draws a curious crowd

The rare auction of a large Tocumwal house in Canberra’s inner north caught the attention of prospective buyers on Saturday.

McGrath Estate Agents Dickson selling agent Maree van Arkel said the five-bedroom, two-bathroom house at 14 Finn Street in O’Connor represented a market that’s been “uncontested” in the sought-after suburb.

“There’s been a few sales of similar houses in Ainslie at $1.33 million but there hasn’t been a five-bedroom en suite Tocumwal, renovated, in this position, on this sized block and in this location in all the years I’ve been selling, which is 17 years,” she said.

“It’s a market that hasn’t been tested in O’Connor.”

The territory’s Tocumwal houses were retrieved from a Tocumwal military base in NSW after World War II and brought to Canberra to ease a desperate housing shortage.

About 50 people gathered to watch the auction of 14 Finn Street. An opening bid of $1 million gradually climbed to $1.17 million. After a pause in proceedings, auctioneer Hugh Rainger placed a vendor bid of $1.25 million before the property passed in.

Ms van Arkel said she expected the large house, which sits on a 933-square-metre block next to reserve within walking distance of the popular O’Connor shops, to sell within the next fortnight.

“It’s huge. It’s also all renovated [with] solid timber floorboards throughout, the high ceilings, the extension, the studio, which is fully insulated and double glazed,” she said.

“There’s [a house] around the corner that went for about $1.85 million and it was a four-bedroom, one bathroom. This is a five-bedroom and ensuite, plus a studio, on a bigger block in a great position.”

Canberra’s auction clearance rate dipped to 53 per cent on Saturday, according to Domain Group data.

One sale did crack the million-dollar mark: 14 Carmichael Street in Deakin sold for $1.2 million under the hammer through Luton Properties Manuka.

The two-storey, five-bedroom house features a renovated kitchen and a central location near the Deakin shops and Red Hill Nature Reserve.

The traditionally bustling spring is just around the corner, but Canberra agents are still reporting a shortage of properties for sale.

“There’s actually not a huge amount in O’Connor,” Ms van Arkel said.

“Entry level in O’Connor is about $800,000 for three bedrooms, one bathroom, and we’re seeing good numbers at the open houses and that’s always a good sign.”