Canberra auctions: The $1m ceiling shaping demand

Market uncertainty continues to cloud Canberra’s housing market, with subdued bidding and several properties passed in, although the sub-$1 million price point remains a strong performer.

In Narrabundah on Saturday, Cream Residential’s Jack Wilson passed in the distinctive character-filled residence at 60 Sturt Avenue. The property had an asking price in the low-$2 million range.

Offered for the first time in 70 years, the meticulously presented house comprises formal and casual living and dining rooms, four bedrooms, three bathrooms, an impressive kitchen with granite benchtops, an in-ground pool, a games room with bar, plus a garage and carport totalling 87 square metres.

The impressive home is positioned beside Narrabundah Oval and is near the college, leading private schools and Griffith shops.

In Hawker, Obi Shadmaan from The Property Collective sold the four-bedroom house at 47 Eridunda Circuit. The property attracted three registered bidders, he said, before it sold under the hammer. The sale price was withheld.

Set on an 819-square-metre site in one of Hawker’s most established areas, the stylishly updated house offers formal living, a generous family and dining room, a fully equipped kitchen, a main bedroom with an en suite, an outdoor entertainment deck, a double garage and a gym.

The property is close to several major schools and a short drive from the University of Canberra, Westfield Belconnen and the CBD.

Properties under $1 million were snapped up at mid-week auctions.

On Friday, Cream Residential’s Chris Wilson sold the modern two-storey townhouse at 23 Bill Leng Street, Coombs, for $850,000. Set on a 249-square-metre site, the property has three bedrooms, two bathrooms, a generous living and dining area that spills out to al fresco area, plus a double garage.

Elsewhere during the week, Tim McInnes from Timothy Road sold the three-bedroom house at 15 Fred Johns Crescent, McKellar, for $815,000. Positioned on a low-maintenance 465-square-metre block near Westfield Belconnen, Lake Ginninderra, schools and parks, the house provides well-proportioned accommodation, including family, meals and living areas; a stylishly updated kitchen and bathroom; and a 91.5-square-metre semi-enclosed carport.

In Macgregor, Ray White sold the beautifully presented four-bedroom house at 2 Berne Place for $970,000, while Ray White also sold the three-bedroom house at 4 Ingram Street, Gowrie, for $910,000.

Limited stock levels led to clearance rates rising to 58 per cent, the same rate recorded a year ago. Of the 43 properties scheduled to go under the hammer, 36 were reported, of which 21 sold, six were withdrawn, and eight were passed in.