Auction watch: Rainy start to spring selling season

A rainy start to the first weekend of the spring selling season did little to dampen buyer activity at Canberra’s Saturday auctions.

A clearance rate of 82 per cent, according to Domain Group data, and a new suburb record in Downer started the season off on a high note.

Buyers were out in force in the inner north with 13 parties registering to bid for a fully renovated home in Downer.

The four-bedroom home at 28 Berry Street sold for $996,000, breaking the suburb record by $36,000.

Luton Properties Manuka agent Kate Yates said the quality of the home and its stylish renovation attracted about 150 groups through its doors during the marketing campaign.

“The vendor styled it herself and she’s just done an amazing job,” Ms Yates said.

Ms Yates said demand for property in Downer had strengthened and light rail, which placed the inner north suburb on the first proposed route, had piqued buyer interest.

Ms Yates said the suburb’s proximity to the city and traditional, large blocks were also major drawcards.

The inner north was also home to the biggest sale of the day when 10 Derrick Street in Campbell sold under the hammer for $1,161,000.

Luton Properties Manuka agent Greg Hedger said the home had also been treated to a stunning renovation and attracted four registered parties.

Mr Hedger said the weekend offered a promising glimpse of what was to come for the busy selling season.

“If this is a precursor I think it will be really quite busy,” Mr Hedger said.

“We’re looking forward to a good solid spring.”

In Canberra’s south, a beautifully retained red brick home at 23 Barron Street in Deakin attracted nine registered bidders and sold for $1,070,000.

Belle Property Kingston agent Dan McAlpine said the vendors were happy and the buyers were thrilled – they had just missed out on securing another inner south property at an auction last weekend.

The clearance rate of 82 per cent was up from last week’s 79 per cent and a marked improvement from the 65.7 and 53 per cent clearance rates of the previous two weeks.