Canberra auctions: Market sees competitive sales amid mixed results

The weekend’s auction results showcased a mix of strong sales and properties passing in, highlighting both buyer competition and price sensitivity in the market. While some homes attracted multiple bidders and sold swiftly, others remain available as negotiations continue.

On Saturday, the stylishly presented house at 176 Langtree Crescent, Crace, secured a sale of $1.095 million after attracting three registered bidders, according to MARQ Property agent Sam Taylor. It was advertised at more than $1.075 million.

The modern four-bedroom house features a flexible floor plan and sleek finishes, and is close to coveted lifestyle amenities, including the Crace shopping village.

Taylor also sold the entry-level three-bedroom house at 15 Jacobs Street, Evatt. Advertised at $765,000 plus, the auction drew seven registered bidders on the day before it sold well above the reserve at $872,000.

The character-filled renovated house has a practical sun-filled layout spilling out to a low-maintenance native garden and is just moments from schools, local shops and parks.

Taylor said that while there has been no noticeable change in selling prices, the interest rate cut has motivated more buyers to act, adding, “we’re seeing more people at open for inspections and more activity from first-home buyers.”

Elsewhere on Saturday, the four-bedroom house at 7 Kirwan Circuit, Stirling, drew two registered bidders but was passed in on the day, according to Cream Residential’s Chris Wilson.

The property is currently under negotiation and expected to sell for just under $1 million.

Set on a 741-square-metre site, the well-proportioned house is surrounded by lush established gardens and is conveniently located in a peaceful loop street close to Weston Creek shopping centre.

Wilson said they had an upswing in pre-auction sales in February as the interest rate cut prompted buyers into action.

Mixed results were recorded during the week, with a run of auctions that failed to produce sales.

The Property Collective passed in the two-bedroom apartment at 183/15 Irving Street, Phillip, which is now for sale for $619,000-plus after a price adjustment. The beautifully presented three-bedroom townhouse at 12/156 Clive Steele Avenue, Monash, is also still available for offers above $699,000.

Luton Properties passed in 28 Jansz Crescent, Griffith. It is now for sale at $2.395 million while 7 Mullins Place, Gowrie, is on the market with a guide of $1.159 million. Luton’s did have success with the sale of 54b Hyndes Crescent, Holder, and 3 Wyola Place, Kaleen, with prices undisclosed.

Last weekend saw clearance rates rise to 60 per cent, up nine percentage points on last year’s 51 per cent.