Auction watch: Marathon auction secures multimillion-dollar sale in Yarralumla

A marathon auction in Yarralumla resulted in the biggest sale of the day, attracting 31 bids in a 35-minute stretch.

About 50 people gathered inside 3B Arkana Street to watch four registered bidders vie for the home.

The five-bedroom house was positioned on a 1393-square-metre block and offered resort-style facilities including a sandstone entertaining area with a saltwater swimming pool.

Peter Blackshaw Manuka auctioneer Alec Brown accepted an opening bid of $1.5 million.

Bidding started slowly but became competitive as it neared the $2 million mark.

The house sold under the hammer for $2.46 million, which agent Mario Sanfrancesco said ended the buyers’ long search for a Canberra property.

“Everyone is very happy,” Mr Sanfrancesco said.

“The buyers are delighted and the sellers had lived there for about 12 years, but it was time for them to move on and they’re very happy with the outcome.”

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In Canberra’s north, a three-bedroom house at 11 Kriewaldt Circuit in Higgins attracted six registered bidders, with three actively vying for the property.

11 Kriewaldt Circuit in Higgins sold for $540,000. Photo: Supplied

Belconnen has been the ACT’s top performer this winter with supply trailing demand for both entry level and high-end properties.

Auctioneer Deb Lorkin accepted an opening bid of $450,000, which was quickly succeeded by a bid of $475,000.

As the bidding pushed past the $500,000 mark it was a two-horse race with the hammer falling on $540,000.

One Agency Vermillion Properties’ Robert Crane said the buyers were Belconnen locals keen to stay in the region and had already tried their luck at a number of auctions in the area.

He said the property’s location and 968-square-metre block drew strong interest throughout the marketing campaign.

“The block size, the fact that you could extend in the future, it’s proximity to Kippax Fair and very good local shops and schools attracted interest,” Mr Crane said.

The sales contributed to a 63 per cent clearance rate down from last week’s 69 per cent, according to Domain Group data.

See the full list of ACT auction results here.