Auction watch: Giralang home set to break record despite passing in at auction

A newly built Giralang home has failed to sell under the hammer on Saturday afternoon, but it is anticipated to break the suburb record with the opening bid of $1 million surpassing the suburb record by $80,000.

There were five registered bidders at the auction, with two parties bidding on the day. Altogether, there were four bids before the home passed in at $1.150 million.

Speaking after the auction, Belle Property listing agent Rob Cappuccio said an additional two registered parties were interested in further negotiations for the home should the highest bidder be unsuccessful.

“The auction went expected to plan, the opening bid was already a record price for Giralang and people were nervous about what they should bid, particularly as there was over 150 people at the auction,” he said.

“We’ve got three of our bidders hanging back after the auction to have a chat.”

The home was built by JTH Building Company.

“It’s a brand new home, it wasn’t built as part of a development it was just a new builder trying to advertise his awesome business,” said Mr Cappuccio.

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Described on the Allhomes listing as “built to the highest of standards”, the 384-square-metre home features three living areas, ducted zoned air conditioning and double-glazed windows.

The home attracted a lot of attention throughout its three-week campaign, with approximately 400 people inspecting across 160 groups.

There was a price guide of $1.2 million to $1.4 million for the home.

Giralang’s median house price currently sits at $637,500.

In other auction results, a three-bedroom Page home at 41 Luehmann Street sold for $571,000.

The home had been recently renovated.

On the southern side of the lake, a four-bedroom Rivett home sold for $585,000.

It was described as “a perfect entry to Weston Creek”.

Both homes sold for less than their suburb medians: Page’s median price sits at $616,000 and Rivett’s is $620,000.

Check out the rest of Saturday’s auction results.