Canberra auctions: Buyer activity builds momentum ahead of spring

The Canberra auction circuit buzzed with heightened activity over the weekend, marked by determined bidders and steady momentum, reflecting a stronger property market.

Renovators were out in force on Saturday, with the original three-bedroom house at 9 Brookman Street, Torrens, selling at auction for $1.14 million after spirited bidding throughout the auction.

Luton Properties’ Tim Burke said there were 10 registered bidders, with buyer interest during the campaign sitting around the $900,000 price point.

“The property was virtually unliveable and the pool had evolved into a swamp – frogs and all.”

Burke said the campaign suggested renovators were starting to return with growing confidence, which was a positive sign for the market.

“The contenders were mostly young families looking to renovate or build a new home,” he said.

Set on a substantial 1237-square-metre block, the north-facing property is within walking distance of Torrens Primary School, shops, and the nature trails of Mount Taylor and Southlands Mawson.

In Chapman, the five-bedroom residence at 10 Redgrave Place drew three registered bidders on Saturday before selling for $1.34 million.

AM Property’s Luke Lindley said it was a tense auction, with strong offers coming from the outset and momentum carrying through to the final bid.

Tucked away in a peaceful, elevated cul-de-sac, the impressive and flexible house offers two generous living areas opening to a sun-drenched deck and views of the Brindabella Mountain Range, an eat-in kitchen, three bathrooms, ample storage and a carport.

Also on Saturday, Mark McCann of McCann Properties sold the well-presented house at 25 Dalziel Street, Gowrie, under the hammer for $940,000 to a young family who were upsizing.

Set on a 708-square-metre block, the spacious accommodation included separate living, dining and family rooms, three bedrooms plus a sunroom or fourth bedroom, two bathrooms, a double garage and double carport.

Weekday auctions also saw strong interest and results. Belle Property Canberra’s Oumaya Escribe sold the two-bedroom, two-bathroom apartment at 133/32 Blackall Street, Barton for $892,500. The 89-square-metre flat had been advertised at a price range of $875,000 to $900,000.

Elsewhere, Blackshaw’s sold the one-bedroom apartment at 141/51 Irving Street, Phillip, for an undisclosed price while Ray White sold a three-bedroom house at 42 Holyman Street, Scullin, for $790,000.

Clearance rates dipped last week to 60 per cent, down from the 63 per cent recorded at the same time a year ago. Of the 57 properties scheduled to go to auction, 32 sold, 10 were withdrawn, and 11 were passed in.