Auction watch: Kaleen has a new suburb record

A new record in Kaleen and a fiercely contested townhouse auction in Cook demonstrated the strength of Belconnen’s property market this week.

Five parties registered to bid for a five-bedroom house in Kaleen at a mid-week auction.

LJ Hooker Kaleen agent Tim Russell said the home at 7 Holley Place attracted more than 80 groups to inspections during the marketing campaign.

In the end it was a local buyer who secured the home, which sold under the hammer for $1,060,000.

It topped the previous suburb record of $1,045,000, which was set in November for the sale of 45 Onkaparinga Crescent.

Mr Russell said the suburb’s popularity has surged given its close proximity to the inner north.

“That price point is still reasonable value when you look at what it would buy you five minutes down the road in the inner north,” Mr Russell said.

“Kaleen is really conducive to families, it has low crime, great infrastructure and great schools.”

The house was also perfect for families with multiple living areas, a big backyard, swimming pool, putting green, covered alfresco area and spa.

“It certainly had the room for a large family and the facilities to cater for excellent entertaining,” Mr Russell said.

A townhouse in Cook also drew strong crowds when it went under the hammer on Saturday.

A massive 21 parties registered to bid for the immaculate three-bedroom townhouse at 3 Teague Street.

3 Teague Street, Cook sold for $636,000. Photo: Philip Kouvelis Real Estate

Set on a 523-square-metre block, the freestanding townhouse featured a split-level living area, beautifully renovated kitchen and polished bamboo flooring.

Philip Kouvelis Real Estate agent Nicky Symon said more than 100 groups had inspected the home and there lots of repeat visits.

Auctioneer Philip Kouvelis accepted an opening bid of $587,350, which was well above the low to mid-$500,000 reserve.

Fast, furious bidding followed: $590,000, $611,250, $615,000, before continuing in small increments.

The hammer fell on $636,000 and sold to a young couple.

Like Kaleen, Cook has become an attractive suburb for those priced out of the inner north.

“People love living here,” Ms Simon said.

“It’s such a central location and close to arterial roads.”

Saturday’s clearance rate of 68 per cent was a slight drop from the pre-easter Super Saturday’s 70 per cent, according to Domain Group Data.

See all of Saturday’s auction results here.