Canberra auctions: Coy buyers enter bidding wars after auctions

A wave of properties failed to attract offers at auction on Saturday, but buyers engaged in bidding wars shortly after, with several passed-in properties receiving substantial offers.

The auction of the top-end house at 16 Belah Street, O’Connor, drew a strong crowd and two registered bidders, but failed to ignite any flames. The property received an opening bid of $1.5 million which was rejected before it was passed in at $2 million.

Immediately after the auction, a bidding war erupted between two buyers. Jonny Warren of Jonny Warren Properties said that, within 15 minutes of the property being passed in, they received an offer of $2.5 million, followed by one of $2.6 million.

The agency reported strong interest during the campaign, with feedback suggesting the property would sell for around the $2.7 million mark.

Set on an 805-square-metre block, the substantial family home has been completely transformed. In 2018, the owners demolished the existing cottage and built two luxurious family homes designed for multigenerational living.

At the heart of the transformation is an immaculate, spacious two-level main residence, augmented by a welcoming single-level granny flat with a thoughtful layout between both.

The main residence provides four bedrooms and three and a half bathrooms while the adjacent granny flat has two bedrooms and two bathrooms, making the property ideal for extended family living, or as an investment opportunity.

The appealing package is completed by a prized location near shops, quality schools and parks.

Warren said it was “an amazing home in a magnificent tree-lined street”, in one of Canberra’s blue-chip locations.

The prestigious suburb of O’Connor is establishing new benchmarks of late. While the suburb’s median house price has dipped year-on-year, it has soared by 33.6 per cent over the past five years.

In Bruce, MARQ Property’s Sam Taylor also reported a bidding war on Saturday after 60 Norman Fisher Circuit was passed in at auction. Taylor indicated the property was likely to sell by the end of the day or close to it.

The striking four-bedroom, two-bathroom house is set on a low-maintenance 458-square-metre block and is in a coveted location near many parks, playgrounds and multiple leisure amenities, and only moments to Belconnen, a city with a number of quality private and public schools nearby.