Auction watch: New record for Belconnen suburb of Weetangera

The Belconnen suburb of Weetangera is home to a new suburb record after the auction of a one-acre property on Saturday.

The six-bedroom house at 17 McLachlan Crescent sold for more than $1.5 million under the hammer.

It sits on a sprawling, 4078-square-metre block – the largest residential property in the Belconnen district.

Standout features include an indoor swimming pool and tennis court.

A crowd of about 100 people gathered to watch the auction, with 12 registered parties vying for the distinct property.

The bidding opened at $1.2 million, with about 40 bids placed during the tussle for the home. 

17 Mclachlan Crescent, Weetangera. Photo: Supplied

The auction eventually came down to a battle between two parties, with a Canberra family snapping up the residence for $1,551,000.

Saturday’s sale breaks Weetangera’s previous residential record of $1.51 million, set in 2016. 

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Luton Properties Belconnen agent Tim McInnes, who sold both record-breaking homes, said it was “incredibly hard” to put a pricetag on such a distinct property.

“An auction was the best way to establish what people were prepared to pay,” he said.

“It’s a really special piece of real estate.”

Mr McInnes said the vendors bought 17 McLachlan Crescent in 1999, almost two decades ago.

“It’s the kind of home people are probably going to spend the next 20 years of their life in,” he said.

Saturday’s Weetangera sale is not the only suburb record broken in the Belconnen region since January.

Florey’s record has been smashed twice this year alone, with a top price of $960,000 cemented in April.

The Weetangera sale contributed to Saturday’s clearance rate of 69 per cent off 39 reported auctions, according to Domain Group data.

The result is a little lower than last week’s 75 per cent clearance rate.

Demand for Canberra houses continues to outstrip supply despite a tendency for less sales in the cooler months.

Mr McInnes said the Belconnen market showed no signs of slowing down with strong sales across the board.

“I think people still see Belconnen as a great option to create family memories,” he said.

“The blocks are a good size, there are houses in a bracket that is obtainable.”

See the full list of ACT auction results here.