Canberra auctions: Investors return to Canberra as market stabilises

Canberra’s property market shows signs of renewed momentum, with a mix of investor activity, conditional buyer interest, and mid-week results highlighting steady confidence across a diverse range of homes.

On Saturday, McCann Properties’ Mark McCann sold the four-bedroom-plus-study home at 51 Prichard Circuit, Richardson, under the hammer for $810,000, exceeding its advertised price guide of $760,000-plus.

The auction attracted two registered bidders on the day, with the property ultimately secured by an investor. The underbidder was a first-home buyer. McCann said the last two owners of the property had been investors.

“It’s a great property with plenty of future upside, including the potential to convert the study into an en suite.”

Nestled on a 785-square-metre block in a quiet loop street, the well-designed house offers generous and tastefully maintained accommodation just a short walk from the local primary school.

In Macquarie, the property at 46 Lachlan Street was passed in for $805,000 through Agent Team’s Steve Lowe.

Lowe said the property needed some updating, and with construction costs impacting buyer interest, the vendor would spend around $15,000 on updates before relisting it in a few weeks.

Situated in one of Macquarie’s most sought-after areas, the single-level, three-bedroom house has a well-proportioned floor plan in original yet well-maintained condition. It is a short walk from the local shops and school.

In Curtin, the 1320-square-metre site with two free-standing homes at 10a and 10b Byrnes Place was passed in at auction and is now for sale for around $1.9 million plus.

Chris Wilson from Cream Residential said there had been strong interest from conditional buyers.

Tucked away in a peaceful cul-de-sac, the property offers easy access to a bike path leading to North Curtin Reserve. The property includes the original, updated three-bedroom home at the front, and a 10-year-old residence at the rear featuring three bedrooms and two bathrooms.

Mid-week auctions also produced some sound results.

The stunning four-bedroom house with pool at 48 Temperley Street, Nicholls, sold through Town Residential’s Kostya Logvinov on Wednesday for $1.395 million.

Jacob Stanton from The Property Collective had two successful results during the week with the $865,000 sale of the four-bedroom property at 14 McCullock Place, Kambah, while a stylish four-bedder at 20 Courtneidge Street, Dunlop, sold the day before for $975,000. It had been advertised at $899,000 plus.

Last week saw a stronger clearance rate of 66 per cent, well up on the 51 per cent recorded a year ago.