Auction watch: Clearance rates surge in Canberra

A modernist Red Hill house designed by Peter Byfield and a six-bedroom family home in Mawson contributed to a 90 per cent auction clearance rate on Saturday.

The sale of 13 Hoadley Street in Mawson for $1,322,000 was the suburb’s second biggest on record and a large crowd gathered in the backyard to watch five registered bidders vie for the home.

The six-bedroom, five-bathroom house featured a segregated layout and Belle Property Kingston agent Dan McAlpine said its flexibility was a huge drawcard.

13 Hoadley Street in Mawson sold for $1,322,000. Photo: Supplied

“A larger home can suit a multi-generational family, a large family or provide a potential second income,” Mr McAlpine said.

“Properties like this always sell well because there’s that diversity there.”

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Auctioneer Louise Harget accepted an opening bid of $1 million, which quickly soared to $1.25 million in $50,000 and $100,000 increments.

After bidding surpassed $1,306,000 the property was declared on the market.

Two bidders pushed the price to $1.32 million, before a new bidder jumped in with a bid of $1,321,000.

It was his first and final bid, with the hammer falling on $1,322,000.

The biggest sale of the day was exchanged in Red Hill, where a spectacular Peter Byfield-designed house sold for $2.9 million.

The five-bedroom house at 58 Endeavour Street attracted about 100 groups to inspections and sold via Luton Properties Manuka agents Richard and Sophie Luton.

58 Endeavour Street in Red Hill was the biggest sale of the day. Photo: Supplied

Mr Luton said there was a high demand for prestige properties in the inner south and the biggest shortage of stock that he’s seen in 25 years. 

“When you look at the listings over a million dollars on Alhomes there’s really limited stock,” Mr Luton said. 

“It’s an awesome time to sell with that shortage of stock.”

Richard and Sophie Luton also sold a house at 4 Belmore Gardens in Barton for $2,195,000 this week. 

4 Belmore Gardens in Barton. Photo: Supplied

The heritage home is one of just 50 houses in Barton and it was the first time a house has sold for more than $2 million in the suburb. 

Saturday’s 90 per cent clearance rate was a sharp rise from last week’s 72 per cent, according to Domain Group data.

See the full list of ACT auction results here.