Auction watch: Canberra's first properties sold under the hammer this year in Bonython

Two homes in Bonython were the first properties sold under the hammer in Canberra this year as auctions returned on Saturday.

Among them was a four-bedroom house at 25 Hingston Close.

Almost 40 people gathered to watch the home sell for $587,500, after a tight bidding war among two of three registered bidders.

It was the first time the house had been on the market in 18 years.

Luton Properties agent Michael Martin said the sale broke the street’s record of $560,000.

The house is situated on a large 918 square metre block, located on a quiet cul de sac close to Bonython Oval and Bonython Primary School.

Features include spacious living areas, updated appliances and a large backyard. 

Mr Martin said quite a few people expressed interest in the property post-auction if the home didn’t sell on Saturday.

Luton Properties Tuggeranong also auctioned off a three-bedroom home at 2 Kneebone Street, Bonython – the only other Canberra house sold under the hammer.

About 20 people gathered to watch the property sell for $460,000. 

One other Tuggeranong property, 28 Fiveash Street, Chisholm, was passed in at auction.

Mr Martin said Canberra’s auction market was off to a good start. He said he expected the market to continuing growing throughout the year.

“I think auctions have been a trend for quite some time,” he said.

“It opens the market to all potential buyers. Everyone has an opportunity; everyone’s there.”

A fourth property in Hawker was originally listed for auction on Saturday but was sold a day earlier.

One Agency’s Scott Crossman said 5/27 Jinka Street sold on Friday for $475,000.