Auction watch: Fomer Defence Housing property in Nicholls home sells under the hammer

70 Krantzcke Circuit, Nicholls sold for $715,000.70 Krantzcke Circuit, Nicholls sold for $715,000. Photo: Graham Tidy

Threatening rain and storms held off for a sunny morning of auctions around Canberra on Saturday.

Among them was the successful sale of a former Defence Housing Association-owned property in Nicholls.

About 30 people watched LJ Hooker auctioneer Sandra Masters sell 70 Krantzcke​ Circuit under the hammer for $715,000.

L J Hooker Gungahlin auctioneer Sandra Masters at the auction of 70 Krantzcke Circuit, Nicholls, which sold for $715,000L J Hooker Gungahlin auctioneer Sandra Masters at the auction of 70 Krantzcke Circuit, Nicholls, which sold for $715,000 Photo: Graham Tidy

What began as a tightly-fought auction between three of the eight registered parties took a turn when two more pitched in at the 11th hour, one of the two claiming the winning bid.

LJ Hooker Gungahlin agent Jason Hall said the home’s Defence Housing lease had recently wound up.

As a result, the four-bedroom property had received a fresh lick of paint, new carpets and landscaping just before it hit the market.

The house features spacious and flexible open-plan living areas filled with natural light and modern, neutral decor.

A spacious master bedroom leads into a walk-in wardrobe and en suite bathroom, the latter including a shower and bath.

The home is positioned in one of the suburb’s quieter streets with little through traffic and backs onto a lush golf course.

Mr Hall said the number of people attending the auction was a little higher than expected and contributed to a strong result.

He said it was the highest sales result among former Defence properties in the area.

“It’s a good start [to the year],” he said.

“We had 75 people go through until today so the numbers were really good. 

“It was a good result. It shows where the market is at the moment. 

Mr Hall said the number of registered bidders interested in buying the property was higher than the average three to six groups bidding on similar properties in Nicholls in the past year.

The home at 70 Krantzcke Circuit was among 22 properties sold under the hammer in the nation’s capital this week, the first time this year there have been more than a handful of homes listed for auction.

Of these, 18 were sold on Saturday with a clearance rate of 75 per cent.

The highest sale for the week was 12 Keira Street, Narrabundah which sold under the hammer for $1.005 million on Thursday.