Auction watch: Bidders battle it out for contemporary Fisher home

A contemporary Fisher home got bidders competitive juices flowing at an auction on Saturday morning.

The three-bedroom, two-bathroom home was described by Luton Properties Weston Creek and Molonglo Valley co-listing agent and auctioneer Tim Burke as ‘”the sort of home you would see in a magazine”.

Set on a 919sq m block, highlights of the home at 38 Kalgoorlie Crescent were a fully renovated modern kitchen, intricate timber wall detailing and generous living spaces.

About 85 groups inspected the property during the campaign with the price guide in the low to mid $700,000s.

There were eight registered bidders at the auction.

Bidding for the home kicked off at $640,000 and was immediately countered with a bid of $660,000. The two bidders fought it out to $720,000 through increments of $20,000 before a third bidder entered with a bid of $730,000.

The price progressed to $760,000 when a fourth buyer entered and moved it to $770,000.

Mr Burke declared the home on the market at $780,000 and it eventually sold for $790,000 to the fourth bidder.

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Co-listing agent Justine Burke said the buyers – a young couple – were stoked.

“We’ve met them quite a few times over the last six to eight months at a few properties across Weston Creek and they just really loved this one,” she said.

The property was last exchanged in 2014 for $550,000. Since that time it has undergone significant changes.

“The vendors did a lot of work to the home, it was really contemporary and very different to a lot of properties,” Ms Burke said.

“That’s why people got competitive, they couldn’t go down the road and buy a similar house next weekend – it was different and people really loved that.”

Auctions in Fisher are rare, with only three going under the hammer so far in 2018*, however, there are four auctions scheduled over the next two weeks.

Overall, it was a quiet weekend for auctions in the nation’s capital with only 27 properties scheduled to go under the hammer on Saturday. After Easter Saturday, this is the lowest volume of auctions for a Saturday since the season kicked off in February.

Auction results have been mixed over the past month.

Saturday, April 7 delivered a lacklustre clearance rate of 50 per cent from 65 auctions. The rate significantly improved last Saturday, April 14 with a clearance rate of 70 per cent from 61 scheduled auctions.

The volume of auctions will pick up again next weekend with 76 properties set to go under the hammer at this stage.

Check out the rest of Saturday’s auction results here.**

*Not including Mr Fluffy blocks

**Data available from Saturday, April 21, 7pm