Canberra auctions: Sales stall despite multiple buyers and strong bidding

Looming interest rate hikes sent a shiver through the housing sector on Saturday, with a wave of properties failing to sell – but there was light at the end of the tunnel with a handful of homes fetching solid prices on the day.

Despite an abundance of registered bidders reported at many auctions, buyers took the upper hand and a number of properties were passed in. The lag was reported across the board, with first-home buyers, investors and second-home buyers all stopping short of the reserves.

Jonny Warren from Jonny Warren Properties said there were eight registered bidders for the renovated and extended home at 3 Lines Street, Holder.

“With an opening bid of $1 million, spirited bidding pushed the price to $1.58 million, where the property was passed in,” he said.

“We’re expecting the home to sell within the next day or so, with the asking price set at about $1.65 million.

“We have interest from an overseas buyer who placed the final bid and two local families who are still interested in purchasing the home.”

The stylish four-bedroom, two-bathroom house is set on a generous block of 1076 square metres and has been extensively extended and renovated by the current owner.

In the sought-after, established area of Latham, the turnkey three-bedroom home at 38 Dalley Crescent attracted four registered bidders but was passed in on a vendor bid of $825,000. The asking price is $825,000-plus.

Bastion Property Group agent Gerard Northey said three first-home buyers and an investor were interested in buying the property but bidding stalled at around the $800,000 mark.

Built in 1972 and extended in 1993, the home was in exceptional order and offered a large block of 877 square metres that was beautifully maintained.

Luton Properties agent Josh Wilson said they withdrew the townhouse at 4 Ingold Street, Coombs, from auction.

Described as the perfect location for young couples, investors or families looking for a first home, the stylish three-bedroom, two-bathroom townhouse is presented in excellent condition and features a landscaped garden courtyard.

It is now for sale with an asking price of more than $700,000.

In Kambah, Cream Residential’s Jack and Chris Wilson sold the three-bedroom, two-bathroom family home at 5 Malcolm Place under the hammer for $850,000.

Offered for the first time in 50 years, the freshly presented home on a landscaped block of 791 square metres sold to a first-home buyer.