Auction watch: First home buyers snap up Greenway townhouse

A Greenway townhouse, situated across from South Point shopping centre, has been snapped up for $665,000 on a frosty Saturday morning. 

There were five registered bidders at the auction, with two parties fighting it out to secure the home. 

Bidding got underway at $600,000 and was countered by a bid of $610,000. 

Bids progressed in increments of $10,000 until the price reached $640,000 at which point increments slowed to $5000, then $1000. 

Auctioneer Frank Walmsley said the reserve price for the home was $645,000.

Greenway’s median house price* is $580,000. 

The three-bedroom home at 52 Eileen Good Street was destined to achieve a strong result according to One Agency’s Sandy Morris. 

“Given there is no body corporate at the home and it has a northerly aspect, it was always going to do well,” she said. 

“Another selling point was that the Department of Human Services is nearby – one of the buyers works there.” 

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Ms Morris said sales had been good in Tuggeranong recently. 

“There’s a really strong market in Tuggeranong at the moment,” she said. 

“We’re a small agency and for us to have sold 12 in the last four weeks demonstrates that.

“We’re finding one of our biggest challenges at the moment is getting the valuers to keep up with the prices we are getting.” 

Last month, Tuggeranong’s auction clearance rate of 65 per cent was the third strongest out of the ACT regions, behind Belconnen’s 75 per cent. 

The south side region also had the greatest year-on-year clearance rate, up from 50 per cent in June 2017.

The volume of auctions has slowed in Canberra over July, with 47 scheduled for this weekend and only 38 scheduled for next weekend. Last weekend, the national capital’s clearance rate hit the lowest level of the year. 

Check out the rest of Saturday’s auction results. 

*Domain data groups townhouses with houses.