Canberra auctions: Buyers rush in ahead of summer slowdown

This weekend’s auctions saw stronger buyer interest across the board, with a number of solid results recorded – a trend many agents widely attribute to sellers setting more realistic prices.

Four-bedroom homes, which have faced slower sales in recent weeks due to an oversupply, are now becoming increasingly sought after as opportunities for buyers start to diminish.

This shift in demand was evident this week, when a number of properties successfully sold under the hammer.

In Gordon, Michael Martin of Luton Properties Tuggeranong sold the single-level house at 21 Preddey Way for $900,000.

The property attracted two registered bidders and was sold to a young family who were upsizing.

“The price was what we had anticipated throughout the campaign, so it was a good result,” Martin said.

Located in a prized scenic street, the property is just a short drive from Lanyon Marketplace and Gordon Primary School and within walking distance of Point Hut Pond.

The house itself consists of four spacious bedrooms, two bathrooms, formal and informal living spaces, and an expansive outdoor entertainment area and lush landscaped gardens.

Closer to the city, the impeccably updated two-bedroom house at 61 Walker Crescent, Narrabundah, drew two registered bidders but was passed in at $1.2 million.

Speaking after the auction, Belle Property’s Bree Currall said she was hopeful of a quick sale as the property was under negotiation for more than $1.25 million.

Set on a 596-square-metre block, the meticulously presented house offers open-plan living spaces with bifold doors flowing out to an outdoor entertainment deck.

It boasts a new Hamptons-style kitchen with state-of-the-art appliances and butler’s pantry, plus ducted heating and cooling, and new timber floors.

Weekday auctions also picked up with a wave of solid transactions.

On Wednesday, Ray White sold the two bedroom townhouse at 37/12 Duggan Street, Calwell, for $530,000 while the three bedroom house at 4 McLean Place, Curtin, sold through Belle Property for $1.062 million.

In Fraser, the four-bedroom house at 6 Dunbar Street sold through Ray White for $910,000, while a three bedroom property at 9/18 Marr Street, Pearce, fetched $985,000 via Hayman Properties.

However, the three-bedroom house at 52 Couchman Crescent, Chisholm, was passed in through Ray White and is now for sale for more than $899,000.

Last weekend saw an increase in the auction clearance rate, which rose to 49 per cent, marking a five per cent improvement compared to the same period last year.