Canberra auctions: Clearance rates soar ahead of spring

Canberra’s final auction weekend before spring has delivered a wave of strong results, with motivated buyers and fresh incentives driving high clearance rates across the capital.

In Weston, Tim and Justine Burke from Luton Properties sold the three-bedroom house at 5 Fizelle Place for $999,000 on Saturday.

Tim Burke said the property drew seven registered bidders and an opening bid of $800,000, and the property sold in excess of the reserve.

“New incentives have created a surge in buyer activity, which is driving results not seen since the peak of pandemic-era demand,” he said.

The well-presented house is set on a 708-square-metre block within walking distance of Cooleman Court, bus routes and playgrounds.

Timothy Road’s Tim McInnes also had a successful auction, with the beautifully presented four-bedroom house at 13 Bennet Place, Spence, selling under the hammer for $1,085,000.

McInnes said it had been a strong campaign, with 37 groups inspecting the property at the first open and seven registered bidders on auction day.

Tucked away at the end of a quiet, elevated cul-de-sac and bordered by a picturesque green belt, the spacious house provides formal and casual living zones, two bathrooms, an enclosed carport and plenty of under-house storage.

Situated on an expansive 1214-square-metre allotment, the property also features views over Canberra and the Tidbinbilla Ranges.

The stylishly presented four-bedroom house at 27 Petersilka Street, Gungahlin, attracted five contenders on Saturday and sold for $1,053,500.

Archer Canberra’s Alex Wang said the campaign had attracted strong interest, with 60 groups inspecting the property.

Nestled on a peaceful tree-lined street just moments from the Gungahlin Town Centre, the thoughtfully designed property delivers zoned accommodation, formal living and dining rooms, a family and casual meals area, a sunroom, a main bedroom with an en suite and walk-in wardrobe, and a double garage.

In Gilmore, AM Property Agency’s Luke Lindley negotiated the sale of the five-bedroom house at 12 Pankhurst Crescent immediately after auction for $1.2 million. He said there were two active buyers.

Offering over 221 square metres of living space, the multilevel property features a versatile floor plan ideal for multigenerational living and boasts prized views of the Tuggeranong Valley.

Clearance rates dipped slightly last weekend to 62 per cent but remain ahead of the 59 per cent recorded at the same time last year. Of the 55 auctions reported, 34 properties sold while 12 were passed in.