Lawson suburb record wraps up the auction season

Mid-week auctions proved as popular as Saturday sales this week, with vendors keen to tie up the loose ends before Christmas.

Almost 100 auctions were held throughout Canberra this week and about half of the homes went under the hammer before Saturday.

Despite the weekend slow down there were still a few strong sales on Saturday, including a suburb record in Lawson.

The auction of 10 Concertina Street attracted a big crowd and five registered bidders.

One Agency Kippax principal Steve Lowe said buyers were keen to get their hands on a finished home in the new suburb.

“Only a few have been built and most of them are occupied,” Mr Lowe said.

“There are a few house and land packages available, but there are a lot of people looking for a quality, complete construction.”

The bidding was largely a back-and-forth competition between two parties. An opening bid was placed at $1 million before rising in $50,000 increments.

The four-bedroom house passed in at $1.25 million, but a price of $1,255,000 was negotiated shortly after the auction.

It topped the previous suburb record of $948,000, which was set in August for the sale of 7 Selection Street.

LJ Hooker’s ADvantage Auctions showcase hosted 28 of the mid-week auctions at Pialligo Estate on Tuesday. 16 homes sold under the hammer.

LJ Hooker Kaleen principal Tim Russell sold five properties in Kaleen and one in Macgregor.

He said the company’s auction showcases had benefits for buyers and sellers alike.

“It creates a vibe and exposure to other buyers who are cash-ready and that assists us in maximising the end result,” Mr Russell said.

“The vibe was fantastic and everyone had a wonderful time. Even those who missed out left happy.”

The biggest sale of the week took place on Wednesday evening when 3 Geerilong Gardens in Reid sold for $2.3 million through Peter Blackshaw Woden and Weston Creek, smashing the suburb record by $400,000.

Saturday’s clearance rate of 70 percent was an improvement from the last two weeks, which each recorded a 61 per cent clearance rate, according to Domain Group data.