Canberra auctions: Upgraders drive competitive weekend sales

A strong weekend of auctions across Canberra has seen family homes attract competitive bidding as government housing schemes continue to reshape the market dynamics for first-home buyers and upgraders alike.

In Nicholls, the stunning four-bedroom house at 27 May Mills Close was sold on Saturday for $1.351 million through Marq Properties’ Sam Taylor.

He said they had received a pre-auction offer of $1.25 million but opted to test the market given the strong interest.

“The auction drew five registered bidders on the day, with the property ultimately selling to a young family who were upgrading,” Taylor added.

Peacefully positioned in a quiet cul-de-sac near schools, shops and sporting fields, the tastefully updated residence offers well-proportioned accommodation comprising formal living and dining rooms, an open-plan living-kitchen-meals area, a main bedroom with en-suite bathroom, a covered al fresco area, and a double garage.

Taylor said a similar property at 17 May Mills Close sold in April this year for $1.15 million, highlighting the strong capital growth in the pocket.

He attributed the robust demand in part to the Australian Government 5% Deposit Scheme, which had brought more first-home buyers into the market, with the flow-on effect supporting values for upgraders.

In Wanniassa, Mark McCann from McCann Properties sold the beautifully updated four-bedroom house at 1 Morrissey Street at auction for $1.098 million.

McCann said the sale attracted six registered bidders, with the hammer falling for a young couple who were upsizing from an apartment.

Situated on a generous 948-square-metre block near local schools, shops and Tuggeranong Lake, the striking home offers a sizeable floor plan with casual and formal living and dining spaces, two bathrooms and a garage. Distinctive features include raked timber ceilings, an undercover entertainment area and a horseshoe driveway.

Elsewhere, Cream Residential’s Jack Wilson passed in the stylish two-bedroom apartment at 3/13a David Street, O’Connor.

The property is now on the market with a price guide in the mid-$700,000s.

Set in a boutique six-unit development designed by Sydney architect Peter Byfield, the New York-inspired split-level apartment is ideally situated near shops, The Australian National University and the city.

Mid-week auctions presented strong results with Addy selling the four-bedroom house at 5 Clermont Street, Fisher, for $1.196 million, while Blackshaw sold the apartment at 90/104 Henry Kendall Street, Franklin, for $505,000, and Town Residential sold the five-bedroom house at 74 Krantzcke Circuit, Nicholls, for $1.365 million.

Clearance rates dipped to 56 per cent last weekend, with 78 sales from the 140 auctions recorded.