Auction watch: Richardson home snapped up for $457,000

A government-owned home in Richardson has been snapped up for $457,000 at an auction on Saturday morning.

The three-bedroom, single-level home was presented as an ideal option for first-home buyers and investors.

Set on a 724 square-metre block, the home at 23 Harford Street boasts a sizeable backyard and a free-flowing floor plan with ample natural light.

Around 40 groups inspected the home and there were two registered bidders at the auction.

Independent Property Group auctioneer Mark Larmer kicked off proceedings by stating they were selling on behalf of the Commissioner for Social Housing.

Bidding for the home started at $400,000. After the initial bid Larmer stated he would take bids of $5000. The two bidders fought it out with bids in increments of $5000 until bidding reached $450,000.

At this point bidding slowed to increments of $1000 before eventually selling for $457,000.

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Independent Property Group Tuggeranong listing agent Will Honey said the home attracted a wide range of buyers.

“There was a mix of downsizers, first-home buyers and people who were trying to flip it after renovating it,” he said.

“The buyers plan to live here, they want to renovate and they’re looking to add some value to it.”

Mr Honey said there was lots of activity in Canberra at the lower end of the market, which was good to see.

With a median house price of $485,000, Richardson is one of Canberra’s most affordable suburbs. It is also the most affordable suburb in the Tuggeranong region, where the overall median price is $566,000.

Elsewhere in Tuggeranong, a four-bedroom Bonython home at 2 Morice Place sold at auction for $697,000. The home attracted three registered bidders.

In the Woden Valley suburb of Isaacs, a two-bedroom, one-bathroom townhouse sold under the hammer for $445,000.

The home at 1/28 Ringrose Crescent was marketed as low maintenance with an abundance of natural light.

Check out the rest of the auction results here.