Auction watch: Jerrabomberra lures buyers from Queanbeyan region and Canberra

A refurbished Jerrabomberra home with views across the region and beyond was among Saturday’s successful auctions.

A mixed bag of weather wasn’t enough to deter prospective buyers from competing for the four-bedroom house at 10 Dennis Place.

Selling agent Larry Eckhoff, of Ian McNamee and Partners Real Estate Jerrabomberra, said a $750,000 bid kicked off the proceedings.

The bidding quickly climbed past the $800,000-mark, before a young couple of first home buyers from the area snapped up the property for $820,000.

Mr Eckhoff said the house had been “beautifully refurbished”. The cul-de-sac location was also a drawcard.

“It has magnificent views right through Jerrabomberra to Canberra,” he said.

Mr Eckhoff said Jerrabomberra and greater Queanbeyan continued to lure buyers across the ACT border.

He said the NSW government’s new stamp duty concessions, exempting first home buyers from paying the tax on new and existing properties up to $650,000, continued to draw young buyers from the capital.

Related: First home buyers seek Queanbeyan properties

Related: NSW stamp duty concessions lure Canberrans

Related: Auction watch: Canberra clearance rates surge

“We’re still getting a lot of ACT buyers coming over and buying now,” Mr Eckhoff said.

“Jerrabomberra has been a popular area for a while but in the last six months it’s getting more and more popular.

“You can’t get enough properties in Jerrabomberra at the moment. Possibly, that might change once we get into September; there’s certainly a few people holding off. There’s definitely a shortage of homes at the moment.”

While some sales have cracked the million-dollar mark, Mr Eckhoff said Jerrabomberra offered quality houses on big blocks at more affordable prices compared to the nation’s capital.

The ACT hasn’t been short of sales either.

Luton Properties director Richard Luton said a shortage of stock continued to spark strong sales – and prices – under the hammer.

His agencies have recorded 100 per cent clearance rates over the past two Saturdays, including August 5.

Saturday’s Canberra-wide clearance rate was 67 per cent off 44 reported auctions, according to Domain Group data.

It comes off the back of a staggering 90 per cent clearance rate recorded a week ago.

“I hope, once spring comes, there will be more on the market,” Mr Luton said.

“We’re very, very short on supply in all [Canberra regional] markets. I haven’t seen anything like it in wintertime.”

One standout sale was 4 Verco Street in Hackett. It sold for $1,260,000 under the hammer.

Selling agent Michael McReynolds said the sale price was above expectations, with nine of the 10 registered bidders vying for the property.

It was the first time the property, backing Mount Majura Nature Reserve, had been on the market in 46 years.

Mr McReynolds said the new buyers were inner north residents.

See the full list of ACT auction results here.