Auction watch: Forrest property sells for more than $2 million

The fog lifted above Canberra on Saturday morning to reveal a picture-perfect day for auctions.

There were some strong sales throughout the capital, with a $2 million-plus sale kicking off the day’s proceedings in Forrest.

A beautifully renovated 1930s home at 32 Arthur Circle sold under the hammer for $2,094,000.

About 50 people gathered around the home’s outdoor entertaining area to watch five registered bidders compete for the property.

The first offer was placed at $1.5 million and competitive bidding between four parties saw the price of the home rise above $2 million. Two parties fought it out in the end, with the gavel falling on $2,094,000.

The property sold to a young, local family who were upgrading from within the area.

It was the highest sale of the day and one of just a handful of properties to crack the $2 million-mark so far this year.

The vendors are downsizing from the family home after 29 years at Arthur Circle and were thrilled with the result.

Peter Blackshaw Manuka director Andrew Chamberlain said the home had been substantially expanded and renovated over the years, while its dress circle location, within walking distance to Manuka, was another major drawcard.

The home’s next-door neighbour received national attention three years ago when it was revealed that taxpayers were paying $3000 a week to rent it for former prime minister Tony Abbott.

However, the lavish mansion at 34 Arthur Circle remained empty for the duration of the lease, with Mr Abbott opting to rent a room at the Australian Police College.

The second biggest sale of the day was achieved when 32 La Perouse Street, Griffith, sold under the hammer for $1,475,000. 

The home featured a striking design by renowned modernist architect Enrico Taglietti and drew a large crowd on auction day.

Luton Properties director Richard Luton said it was one of several strong sales recorded by the agency on Saturday. 

Mr Luton said the agency sold a home in Pearce for more than $1 million and a property in Franklin for $70,000 above reserve. 

Canberra’s clearance rate was 58 per cent, up from last week’s 45 per cent, according to Australian Property Monitors.