Canberra auctions: Affordable housing continues to lure first-home buyers

Affordable housing continues to perform well at auction with a flood of properties sold on Saturday and during the week, while big-ticket properties are taking longer to sell but are still delivering strong results.

Tim and Justine Burke of Luton Properties – Weston Creek and Molonglo Valley sold the entry-level property at 16 Eugenia Street, Rivett, under the hammer on Saturday for $774,000.

Auctioneer Tim Burke said the three-bedroom house attracted one registered bidder, who was a first-home buyer.

Burke also took the auction of the luxurious three-bedroom penthouse at 260/15 Irving Street, Phillip, but it was passed in and is now on the market for $1.149 million.

Situated on the 15th floor of the Ivy development, the north-facing penthouse features expansive views and a 28-square-metre balcony. A two-bedroom apartment in the same complex sold in April for $685,000.

Burke said properties that were being passed in were still selling within a few weeks of their auction date.

In Conder, Ben Holder of Luton Properties – Tuggeranong sold the single-storey house at 1/6 Sturgeon Street to a first-home buyer for $670,0000.

Holder said the well-presented home sat on a safe, peaceful street in a great location.

Conder has been one of Canberra’s fastest-growing suburbs, with its median house price growing by 4.2 per cent over the past year to reach $917,000.

The median unit price has grown by 2.2 per cent and currently sits at $690,000.

Elsewhere on Saturday, the four-bedroom house at 13 Gardiner Street, Downer, was passed in at $1.1 million through Agent Team Canberra’s Steve Lowe.

Lowe said the versatile property was now on the market with an asking price of $1.25 million.

VERV Property’s Jason Roses sold the expansive six-bedroom residence at 4 Simmons Place, Chapman, under the hammer for just over $2 million.

Set on a substantial 2341-square-metre block, the impressive house features striking uninterrupted views and backs on to the Cooleman Ridge Nature Reserve.

On Thursday, the three-bedroom, two-bathroom townhouse at 41/57 Bellhouse Crescent, Moncrieff, sold through Ray White Canberra for $640,000, while the well-presented three-bedroom house at 23 Gudamang Street, Ngunnawal, sold for $880,000 through Purnell Real Estate.

The four-bedder at 58 Mileham Street, Mc Gregor, sold through Ray White Canberra on Friday for $855,000.