Auction watch: New suburb record for Weston

Number 14 Rubbo Crescent sold for $1,175,000 immediately after passing in at auction.

It broke the previous suburb record of $1,088,888, which was set in July for the sale of 1 Tom Bass Terrace.

Independent Property Group Inner North agent Jonathan Warren said the property’s unique design attracted more than 100 groups to open homes during the course of the marketing campaign.

The six-bedroom house was on the market for the first time since it was built 42 years ago.

Sellers Hans and Marta Munstermann, purchased the block in 1974 after moving to Canberra from Europe.

Mr Munstermann, a German-born engineer, employed German, Austrian and Swiss tradesmen to build a house inspired by the architecture of his and his Swiss wife’s homeland.

Four parties registered to bid for the home and there were two active bidders. Just five bids – including a vendor bid of $1 million – were placed before the property passed in for $1,025,000.

However, less than an hour after the auction, an offer of $1,175,000 was accepted.

It was one of seven million-dollar-plus sales achieved on Saturday, with houses in Lyneham, Chapman and Coombs commanding a six-figure price tag.

Narrabundah had the biggest sale of the day when 3 Finniss Crescent sold for $1.6 million. It was the suburb’s second biggest sale on record – its neighbour at number 9 Finniss Street sold in January this year for $1.8 million.

Luton Properties Manuka agent Ryan Broadhurst said the four-bedroom house drew large numbers at open homes, with more than 150 groups inspecting the property during the past few weeks.

There were 19 registered bidders and Mr Broadhurst said the result was “well and truly above expectations”, selling for $200,000 above reserve.

The ACT election had little to no affect on the day, especially when compared to the 2016 federal election.

The clearance rate of 74 per cent fell from last week’s huge 87 per cent, according to Domain Group data. However, it was well above the 37 per cent recorded in July when the nation went to the polls.