Auction watch: Narrabundah cottage sells for $610k

A quaint two-bedroom home in Narrabundah sold for $610,000 at a Thursday night auction. The property at 12 Euroka street sits behind a well-established hedge, which hides this charming house and the many stories that surely go along with it.

The former worker’s cottage embodies a great character, paired with the retro furniture from the current owner, the home truly seems as if it is out of another time. However, with a big backyard the land allows for an extension.

Miriana Cavic of Luton was the selling agent on the property and took 58 groups through the home.

Auctioneer and director of Luton, Richard Luton began by expressing his love for Narrabundah.

“If Sydney papers ring me and ask what is the best suburb to buy in Canberra I always say Narrabundah,” he said.

He got things moving by encouraging those registered to place bids.

Photo: Luton Properties Canberra City

“To those people who have have registered today, don’t sit back, buy today because I believe within 12 months this land will be an extra $100,000 more,” he said.

There were three registered bidders at the auction, with only two fighting it out. Bidding began at $540,000 and gradually increased to $585,000 before Luton placed a bid on behalf of the vendor for $600,000.

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• Related: Solid Canberra auction market as house prices soar

The clearance rate in the inner south suburb sits at 67 per cent and the median house price is $850,000.

Back in May, 14 Euroka Street sold for $630,000. The highest sale to date in the street is $649,000 at 5 Euroka Street in July last year.

Last weekend, 18 Tungun Street in Narrabundah sold for $1.2 million at auction.

Check out the weekend’s auction results here!