Canberra auctions: Clearance rates climb as housing market gains strength

Canberra’s auction market continues to show renewed strength, with strong buyer turnout, competitive bidding, and solid sales across several districts.

A combination of well-presented homes, sought-after locations, and more buyer confidence helped drive auction results above expectations this weekend.

In Whitlam, the luxury four-bedroom house at 18 Laurel Martyn View attracted three registered bidders and sold for $1.7 million through Altair Property’s Rahul Mehta.

The agent said there was strong interest in the home, and the result exceeded expectations as it had been marketed with a price guide of over $1.55 million.

Located just moments from the future Whitlam school and shops, the architectural residence provides an impressive 306 square metres under the roofline.

It has multiple living spaces –  including a formal living room, a family-dining area and a rumpus room – plus a gourmet kitchen, en-suites bathrooms to all bedrooms, and a double garage.

In Braddon, the striking two-bedroom, ground-floor apartment at 6/10 Helemon Street was passed in through The Property Collective’s Annelies Bindley, but there was strong buyer interest and it was expected to sell later on Saturday.

Bindley said they were negotiating with two motivated buyers, and another potential buyer was interested after viewing the property for the first time at the auction.

Positioned in one of Canberra’s most coveted locations, the light-filled apartment features a courtyard retreat, secure basement parking and a dedicated storage unit.

Luton Properties’ Michael Martin sold the well-presented three-bedroom house at 13 Gosman Close, Oxley, under the hammer for $825,000.

He said they had four registered contenders on the day, and the successful bidder was a first-home buyer.

“The seller, an investor, had recently repainted and recarpeted the home throughout,” Martin said. “The new owner plans to update the largely original kitchen and main bathroom.”

Nestled in a convenient cul-de-sac and set on an expansive 1160-square-metre site, the versatile house offers generous indoor and outdoor family living and entertainment spaces, including living and dining, a family room, an updated en suite, a garage and a carport.

Clearance rates rose to a respectable 73 per cent last weekend, making it one of the best-performing weekends this year. Just 48 per cent was recorded in the same period a year ago.

Martin said Luton sold 10 out of 10 properties on Saturday –  an even better result than last weekend, when the agency sold 13 out of 14.

In mid-week auctions, Belle Property’s Alexander Smout sold the four-bedroom house at 25 Weld Street, Yarralumla, for $2.12 million, while the three-bedroom penthouse at 184/45 West Row, City, was sold for an undisclosed price.