Canberra auctions: Conditions remain firmly in favour of buyers

Canberra’s auction market conditions remain firmly in favour of buyers despite a modest lift in clearance rates last week, with quality properties continuing to attract the strongest interest.

On Saturday, Momentum Property’s Nick Paine and Peter White sold the updated three-bedroom house at 30 Groveland Crescent, Isabella Plains, for an undisclosed price in the high-$900,000 range.

Set on a generous 911-square-metre corner block, the beautifully renovated residence features an open-plan living and dining area with a custom-built entertainment unit, a main bedroom with an en suite, an expansive covered entertainment deck, plus a garage and carport.

White said it was a quality property that attracted five registered bidders on the day, but the market in general remained sluggish.

In the same suburb, the four-bedroom house at 199 Ellerson Avenue was passed in through Blackshaw Woden’s Mehri Roses. Located near schools and transport, the house has formal living and dining rooms, a family room, a separate rumpus room, two bathrooms and a double garage.

In Hawker, Luton Properties’ Miriana Cavic passed in the impressive six-bedroom residence at 14 Marrakai Street.

Positioned on a substantial 2835-square-metre allotment backing onto Pinnacle Reserve, the striking house features formal and informal living and dining rooms, rumpus room, four bathrooms, office, separate study, in-ground pool, tennis court and four-car garage.

Midweek auction numbers remain down, but a handful of properties were sold.

Marq Property’s Sam Taylor sold the stylishly presented three-bedroom house at 8 Catalano Street, Wright, before its August 22 auction for $1.1 million.

Positioned between two parks and just a short walk from local shops, the single-level house features generous internal accommodation and a double garage.

Marq Property’s Kris Hellier sold the four-bedroom house at 120 Rob Riley Circuit, Bonner, for $1.003 million and the two-bedroom townhouse at 31/68 Dalkin Crescent, Casey, for $600,000. Both properties were scheduled to go to auction on Saturday.

Blackshaw Manuka’s Ahmad Souweid sold the four-bedroom house at 11 Strzelecki Place, Narrabundah, under the hammer for $1.635 million, while Ray White sold the three-bedroom house at 27 Downard Street, Calwell, for $900,000.

The auction clearance rate improved slightly to 43 per cent last week, hitting the 40 per cent range for the first time in weeks but still down on the 60 per cent recorded at the same time a year ago. Of the 58 properties scheduled for auction, 53 were reported, of which 23 sold, 11 were withdrawn, and 17 passed in.