Canberra auctions: Auction market heats up as winter kicks off

Canberra’s auction market is avoiding the winter blues with some standout sales on Saturday as investors, renovators and families all jostled for their dream homes.

According to Domain data, clearance rates are also rising, with the last auction weekend in May recording a rate of 56 per cent, up from 51 per cent the weekend prior. The overall clearance rate is still down compared to the same time last year when 61 per cent of properties sold under the hammer.

In the prized Weston Creek region, the tightly held suburb of Rivett continues to record strong results, with two impressive sales over the weekend.

The updated three-bedroom house at 31 Angophora Street drew a strong crowd and a lively auction on Saturday, with five buyers vying for the property.

After an opening bid of $850,000, spirited bidding saw the house sell under the hammer for $1.25 million.

Luton Properties – Manuka’s Sophie Luton said the home attracted a lot of interest as it had a great feel with its beautiful timber floors, three living spaces flowing out to the outdoor deck and its overall presentation.

“One of the potential buyers who attended the auction said it was the busiest one they had ever seen.”

Properties in Rivett are extremely popular. Three-bedroom houses have recorded a clearance rate of 81 per cent over the past two months, and the median price for a three-bedroom house is currently $863,000.

On Saturday, Cream Residential’s Chris Wilson sold the unrenovated three-bedroom, two-bathroom property at 1 Toona Place in Rivett for $725,00.

The last time a property sold in the street was in 2019 when the three-bedroom house at 2 Toona Place transacted for $695,000.

In Barton, Belle Property Canberra’s Steph Hoss sold the charming art deco apartment at 3/11 Bourke Street after the auction for an undisclosed price of more than $900,000.

Hoss said the property was passed in with one registered bidder before it sold to the successful purchaser who owns another apartment in the building.

The distinctive complex of 16 apartments across two buildings was designed by Kenneth Oliphant and built in 1934.

On Friday, the six-bedroom house at 31 Jackie Howe Crescent, Macarthur, was passed in through The Property Collective and is now for sale with an asking price of $1.1 million. The property last sold for $669,500 in 2008.