Auction watch: Listings plummet for Canberra Day long weekend

Auction watch: A new suburb record for Forde

Higher listings but lower rate greets Canberra autumn market

Just 18 homes went under the hammer in the ACT during the Canberra Day long weekend, a huge drop from the last week’s 83 auctions.

It mirrored the 2016 Canberra Day weekend when 15 homes were taken to auction.

Despite the plummet in listings, there were a few strong sales recorded on Saturday resulting in a clearance rate of 77 per cent, according to Domain Group data.

About 60 people gathered to watch 49 Mcwhae Circuit in Wanniassa go under the hammer.

Independent Property Group Inner North/City agent Jonathan Warren said 15 registered bidders were joined by “a cheer squad of neighbours hoping for a good price”.

Auctioneer Mark Larmer led a lively auction with about 30 bids placed and the hammer falling on $598,400.

The three-bedrooms house was positioned on an 822-square-metre block and had been recently renovated.

Mr Warren said the vendors’ hard work coupled with the great location attracted more than 100 groups to open homes.

“It was just a lovely home and ready to move in,” Mr Warren said.

“The circuit itself is just beautiful, it’s away from the main road and very close to the Erindale shopping complex.”

Strong results were also reported from mid-week auctions and private treaty sales in the lead up to the long weekend.

The Downer record price was smashed for the second time in a week with the sale of 18 Burn Place.

The four-bedroom property sold via private treaty through Rutherford Johnston Properties principal Vicki Johnston.

Contracts exchanged just five days after it first opened for inspection.

18 Burns Place in Downer sold for a record-breaking $1,080,300. Photo: Supplied

Six formal offers were placed, pushing the price up to $1,080,300 – about $72,000 above the previous suburb record, which was broken when 96 Melba Place sold for $1,009,500 just a week earlier.

Ms Johnston said the renovated home was immaculately presented and set in a tightly held cul-de-sac. A six-car garage was another major attraction.

Ms Johnston said she expected to see more million-dollar sales in the suburb this year.

“If there were more homes out there with similar features it would be easy to secure sales,” Ms Johnston said.

“It’s amazing it has taken so long to break the million-dollar mark.”

The volume of auctions will bounce back next week, with 85 properties listed for auction across the ACT and Queanbeyan on Saturday.