Auction watch: Million-dollar houses snapped up across Canberra

Canberra’s prestige property market was firing on Saturday with a string of multi-million dollar sales across the ACT.

Among them was a custom-built five-bedroom house at 22 Laffan Street in Coombs, which pipped the suburb’s sales record by more than $400,000.

The luxurious display house was designed and constructed by local building company Guest Designs and will feature on the Seven Network’s Australia’s Best Houses next month, recognised for its smart use of space.

Although the property passed in at auction, it was negotiated soon after, with a young family from Mawson snapping it up for $1.61 million.

The suburb’s previous record was the sale of 2 Stan Davey Rise in March for $1,206,000.

Close to 200 groups inspected 22 Laffan Street in the lead up to Saturday’s auction.

Selling agent Nick Haider of Ray White Canberra said some prospective buyers misjudged the property’s value.

“There have been some people with unrealistic expectations,” Mr Haider said.

“Coombs is such a new suburb so, there’s less data available and it can be hard to know what to expect.”

Mr Haider expected the Canberra market’s strength to continue throughout the season.

“I’ve seen a lot of quality homes come on the market, everywhere from Franklin to Chapman,” he said.

Elsewhere, several sales surged past the million-dollar mark on Saturday.

Peter Blackshaw Manuka sold a three-bedroom penthouse apartment at 52/9 Eastlake Parade in Kingston for $1.76 million.

Nearby, a three-bedroom red brick house at 71 Empire Circuit in Forrest was snapped up for $2.1 million.

Other top sales in the ACT included 10 Cockle Street in O’Connor, which sold for $1,950,000 through Independent Property Group, and 14 Verco Street in Hackett, which sold for $1.3 million through Luton Properties.

Canberra’s clearance rate across the market was more modest at 66 per cent, according to Domain Group data.

Spirited bidding reached the opposite end of town – and the opposite end of the market – with a contemporary, three-bedroom house at 20 Watchorn Close in Holt also recording a strong result.

The property’s peaceful location at the end of a cul-de-sac opposite Belconnen Golf Course attracted a range of prospective buyers, including first home buyers, families and downsizers.

Four registered parties tussled for the property from an opening bid of $400,000. A young family sealed the deal with a winning bid of $480,000.

Selling agent Peter Morrell of McGrath Estate Agents Woden said the result “was a little above expectations, which seems to be the market at the moment”.

“I was surprised how many people were families,” he said. “It’s a nice, quiet area – the golf course feels like another backyard. At an entry level it’s a nice, quiet place.”