Canberra auctions: Market heats up on hints of rate cut

The big four banks are all forecasting a rate cut when the RBA meets on Tuesday, which may have encouraged some strong results in this weekend’s property market.

Ray White’s Sebastian Gutierrez and Sophie Spokes sold the stylish property at 70 Brunswick Circuit, Kaleen, at auction for $1.23 million on Saturday.

The sale of the house, which sits in a desirable loop street on a 777-square-metre allotment, attracted 11 registered bidders, the agents said.

The flexible, multigenerational property features a modernised three-bedroom home upstairs and a self-contained one-bedroom apartment and rumpus room on the ground floor.

In Curtin, the tastefully updated three-bedroom house at 40 Throssell Street sold under the gavel for $1.425 million.

Cream Residential’s Chris Wilson said they had seven registered bidders, and the property sold to a young couple who came in and placed a bid at the last minute.

“The auction opened at $1.1 million, rising in $25,000 increments,” he said, adding that it was an impressive property on a corner block that offered flexibility for the future.

Nestled in one of Curtin’s most sought-after pockets, the house provides comfortable and spacious accommodation and is situated near expansive parklands and bike trails.

Wilson said the highly anticipated interest rate cut may have played a part in driving sentiment this weekend.

In Amaroo, Alex Wang from Archer Real Estate sold the meticulously maintained four-bedroom house at 8 Moondarra Street for $1.052 million.

Wang said there had been strong interest in the property throughout the campaign, with six bidders registered to participate on the day.

Positioned on a meticulously maintained 755-square-metre block, the thoughtfully designed house includes formal and informal living areas, an open-plan kitchen, two bathrooms and a double garage.

It is situated in a prized and peaceful location near schools, shops, Yerrabi Pond and the Gungahlin Town Centre.

Down south, the executive-style house at 6 Crook Place, Isaacs, was passed in through Hive Property’s Katrice Velnaar and is now for sale for $1.899 million.

Perched on the prestigious Isaac’s Ridge on a generous 1108-square-metre site, the impressive house delivers a spacious floor plan with living and dining rooms, an open plan family room, a large kitchen, a huge downstairs multipurpose room, three bathrooms and a double garage.

It was hit and miss for sales during the week. Still, there were highlights, including Town Residential’s Kostya Logvinov’s $800,000 sale of the four-bedroom house at 33 Catchpole Street, Macquarie, and Luton Properties’ sale of the three-bedroom house at 64 Davenport Street, Dickson, for an undisclosed amount.

The Property Collective’s three-bedder at 57B Hinkler Street, Scullin, was passed in and is now for sale for $879,900-plus.

Clearance rates continue to be volatile, with last week’s figure of 56 per cent being well down on the 70 per cent of a year ago. Of the 63 properties scheduled, 33 were sold, four were withdrawn, and 20 were passed in.