Auction watch: Strong results across Canberra on a sunny super auction day

The biggest auction day of the season had buyers out in force to bid for almost 100 properties across Canberra.

Saturday got off to a strong start with a three-bedroom home in Yarralumla selling under the hammer for almost $1.6 million.

About 60 people gathered under Hutchins Street’s leafy canopy to watch five active bidders vie for number 34.

The opening offer of $1.2 million was followed by more than 30 bids, with the gavel falling at $1,585,000.

LJ Hooker Belconnen agents Cameron Colquhoun and Lyn Chambers said the marketing campaign attracted a strong level of interest, with about 85 groups visiting the home.

The buyers were Canberra locals downsizing from another suburb, while the vendors were moving interstate. Auctioneer Frank Pompeani​ said the buyers and vendors were ecstatic with the result.

The elegant home was architect designed and superbly appointed with a gourmet kitchen, high ceilings and a reclaimed leadlight window.

Situated just footsteps from the Yarralumla shops, it is within walking distance of the golf course and the lake. 

On the other side of town, six parties registered to bid for a separate-titled townhouse in Bruce.

Luton Properties Weston Creek director Tim Burke said the result exceeded the vendors’ expectations when it sold under the hammer for $665,000.

Mr Burke said feedback during the marketing campaign was in the high $500,000s, with two offers of $585,000 made prior to auction.

Luton Properties director Richard Luton said his company achieved three suburb records throughout the week.

Homes at Gordon and Coombs sold for $1,085,000 and $1,206,000 respectively at midweek auctions, while a six-bedroom executive residence at Weetangera sold on Saturday for $1,510,000.

The clearance rate on Saturday was 69 per cent, according to Australian Property Monitors, which was a solid result for the capital. 

However, it was a drop compared to last week’s clearance rate of 77.8 per cent, the highest of all Australian capital cities and the strongest result so far this year for Canberra.