Canberra auctions: Budget blues bring mixed results

Sales performance continues to vary across the property market, with a number of homes still drawing solid buyer interest this week, while budget constraints remain a key consideration for many purchasers, shaping their decision-making.

Hive Property’s Samantha Linsdell sold the impressive updated five-bedroom house at 5 Tubb Place, Pearce, for an undisclosed amount on Saturday. The property had been advertised for between $1.7 million and $1.8 million, and it sold for a price in that range.

Linsdell said they had two registered bidders on the day.

Set on a substantial 1281-square-metre site, the stylishly renovated mid-century property features an expansive floor plan with a fully equipped kitchen opening to a family living and dining room, a separate sitting room, a rumpus room, a main bedroom with en suite and walk-in wardrobe, a self-contained one-bedroom apartment downstairs, plus a double carport.

In Kambah, the entry-level house at 6 Franks Place sold to a first-home buyer for $715,000 through Sandy Morris of My Morris. Located in a peaceful cul-de-sac on a generous 704-square-metre block, the functional house offers comfortable accommodation with scope to update.

Morris said the lower end of the market was continuing to tick along, largely supported by first-home buyer grants.

In Franklin, Archer Canberra’s Alex Wang said they had two registered bidders – both first-home buyers – at the auction of 12/56 Christina Stead Street, but it was passed in as the bidding did not meet the $800,000 reserve.

Situated on a low-maintenance 303-square-metre site near local shops, parks and Gungahlin Town Centre, the well-presented townhouse offers a spacious living, dining and kitchen, three bedrooms (including a main with an en suite) plus a double garage.

Elsewhere, in Moncrief, the striking five-bedroom house at 1 Pikler Rise was passed in through VC Property’s Varun Dhand and is now for sale at $1.2 million-plus.

In a sought-after area near schools, Moncrieff Park and playgrounds, the stunning house has an elevated position, a formal sitting room, an open-plan kitchen, dining and family area – which opens to an al fresco dining area – a rumpus room, a main bedroom with an en suite and walk-in robe, plus a double garage.

Despite the slowdown in sales at auction, a number of properties were sold during the week.

Edge Real Estate sold the four-bedroom house at 10 Glossop Crescent, Campbell, for $2.6 million, while Stone Real Estate sold the five-bedroom house at 6 Kinloch Circuit, Bruce, prior to auction for $1.1 million, and Home.byHolly sold the three-bedroom house at 39 Grainger Circuit, Melba, prior to auction for $880,000.

Last weekend saw clearance rates plummet to just 42 per cent, well down on the 54 per cent recorded at the same time last year. Of the 87 properties scheduled to go under the hammer, 78 were reported, of which 33 sold, 13 were withdrawn, and 28 were passed in.