Canberra auctions: Young family buy Weston home for $750,000

A three-bedroom home in Weston sold under the hammer on Saturday morning to a young family who’d been on the hunt for a home for the last few months.

The property at 2 Conder Street brought in a dozen onlookers and three registered bidders, of whom only two actively participated.

Bidding for the home kicked off at $630,000 before it was countered by a $650,000 offer. The opening bidder then shortened the stride to $10,000, which the second bidder followed.

The bidding then shortened further to $5000, which selling agent and auctioneer Nik Brozinic of Carter and Co Agents reluctantly accepted. 

When the second bidder attempted to raise the price by just $3000, Mr Brozinic said he would only accept $5000 bids or above. The bidder obliged, offering $680,000.

From here, the process hit a bit of a lull and, after a few moments, the second bidder increased their offer to $750,000 which was enough for the hammer to fall.

According to the listing, the home had a price guide of $730,000-plus.

The house proved to be very popular in the lead-up to the auction, with 35 to 40 groups being taken through the property, he said.

“There was a high level of interest but I think at this point in time, auctions aren’t the strongest method of sale – as they were at the start of the year.”

“I think there’s definitely been a shift recently but, in saying that, we find that properties that have passed in garner a lot more interest post-auction … a lot of buyers come out of the woodworks to negotiate after.

“And this property had three registered bidders and sold under the hammer so it’s worked out in this instance.”

The property was one of fewer than 40 auctions scheduled across the capital on Saturday, on the ANZAC Day long weekend.

Despite this, Mr Brozinic said, “If someone wants to buy, they’ll be there regardless of it being a long weekend.”