Auction watch: Pearce home shows value of renovations

A three-bedroom Pearce home has showed the impact renovations can have in adding value to a property.

The home at 3 Whitelaw Street sold under the hammer for $827,000 on Saturday. This is $252,000 more than its last sale, just over three years ago.

In the same time period, Pearce’s median house price has only grown by $100,000.

Most renovations on the home were cosmetic, with no structural changes or adjustments to the facade. 

Highlights of the tastefully renovated property include a light-filled open plan living area and an outdoor entertaining deck that takes full advantage its north orientation.

Civium Property Group’s Matt Shipard was the selling agent and said he was very pleased with the result but added it could have likely gone another way.

“The successful bidders did not like the home on their first inspection but they came back a second time and ended up buying the home,” he said.

“Also, we first met the underbidder on Thursday and without her it would have been a different result.”

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Prior to auction, 46 groups inspected the home. There were six registered bidders on the day, with four placing bids.

“The amount of bidders we had was positive,” he said.

“We had a vendor set a higher reserve with the intention to move down which is always good.”

Pearce’s median house price is $827,500.

The property at 84 Carruthers Street, Curtin sold for $790,000. Photo: Luton Properties Weston Creek and Molonglo Valley

Elsewhere in Woden Valley homes in Curtin and Farrer were also successful under the hammer.

A tucked away, three-bedroom home at 84 Carruthers Street in Curtin sold for $790,000.

Sold: 33 Moodie Street, Farrer for $740,000. Photo: Damian McDonald

In Farrer, a large family home at 33 Moodie Street sold for $740,000.

Data from the ACT government shows Woden Valley’s median house price is $950,000.

Check out the rest of the auction results here!