Canberra auctions: Canberra auctions face summer slowdown with mixed results

As the summer break approaches, the Canberra auction market continues to experience mixed results as an influx of four-bedroom properties contributes to fewer sales.

While some properties are still attracting interest, others are struggling to meet expectations amid a slowdown in buyer activity.

The stylish four-bedroom house at 29 Eric Mawson Street, Harrison, was one of the exceptions, selling for an undisclosed amount prior to Saturday’s auction. The property had been quoted at a price between $1.15 million and $1.2 million.

Alex Wang of Archer Canberra said the listing attracted strong interest during the campaign and received multiple offers, leading the seller to accept the highest offer before the auction to secure a sale.

Situated on a low-maintenance 541-square-metre block, the spacious and tastefully presented house is near the local school, public transport and the Gungahlin Town Centre.

Elsewhere on Saturday, the five-bedroom residence at 8 Inglewood Street, Gungahlin, was passed in and is currently under negotiation.

Luton Properties’ Peter White said they had two registered bidders and were hopeful of a sale. The property has a price guide of $1.35 million to $1.45 million.

Set on a 791-square-metre site, the impressive house has a versatile floor plan that includes spacious living areas, a fully equipped kitchen, two bedrooms with en suites and walk-in wardrobes, plus three further bedrooms.

The property features a 220-year-old heritage tree and a popular location near the Yerrabi Pond, walking trails and the vibrant Gungahlin Town Centre.

Following last week’s dismal 41 per cent clearance rate, a few standout sales followed during the week, particularly for five-bedroom and three-bedroom properties, with limited stock driving demand.

Belle Property Canberra achieved a price of $1.32 million for the five-bedroom residence at 2 Woods Place, Gowrie, while Ray White’s Andrew Lonsdale sold a three-bedroom townhouse at 12/12 Jondol Place, Isabella Plains, for $610,000.

Other notable results included a five-bedroom house at 93 McClelland Avenue, Nicholls, for $1.225 million and a three-bedroom home at 14 Thea Astley Crescent, Franklin, which fetched $960,000. Both homes were also sold by Ray White.

The influx of four-bedroom properties for sale led to several passed-in results during the week. On Tuesday, 24 Beauchamp Street, Deakin, was passed in through Belle Property Canberra and is now for sale with an asking price of $1.699 million to $1.769 million. Ray White passed in the townhouse at 45 Anthony Rolfe Avenue, Gungahlin, which is now for sale for more than $950,000, while on Wednesday, 67 Castleton Crescent, Gowrie and 26 Parfitt Crescent, Calwell, were passed in with the latter on the market for more than $949,000.