Canberra auctions: Sales stall despite rate cuts as election weighs on buyers

Despite rising buyer demand and the recent interest rate cut, several properties in Canberra were passed in at the weekend. While some sales were achieved, the upcoming election is making buyers more hesitant.

The three-bedroom townhouse at 9 Shepherdson Place, Isaacs, attracted one registered bidder on Saturday and sold to the downsizer for $795,000 through Luton Properties’ Nick Paine.

Set amid a serene environment in a convenient location, the beautifully presented townhouse has a spacious floor plan.

Paine said they were seeing more buyers in the market, but the upcoming election was making them more cautious.

In Pearce, Michael Potter from Michael Potter Real Estate said the three-bedroom split-level townhouse in the tightly held Eddison Gardens hamlet was passed in and is now for sale with an asking price between $830,000 and $840,000.

Potter also noted the upcoming election as a factor contributing to the caution among buyers.

Elsewhere on Saturday, the rejuvenated family house at 25 Blair Street, Watson, drew two registered bidders but was passed in on a vendor bid of $2.09 million.

Bastion Property Group’s Theo Koutsikamanis said the property was under negotiation, with a sale hoped for by the end of the weekend.

Situated on a 772-square-metre site opposite parkland, the immaculately presented house offers a versatile floor plan with spacious indoor and outdoor living areas, a rumpus room, two bathrooms and an oversized double garage.

In Curtin, the charming four-bedroom house at 11 Dry Street was also passed in.

Cream Residential’s Chris Wilson said the property was now on the market for around $1.36 million.

Located just minutes from Woden Town Centre and adjacent to parkland, the well-maintained house offers generous accommodation and leafy views of the hills.

Wilson noted a positive shift in the market this year, but said sellers had to be realistic.

“We’ve just had a really strong month with five properties selling in Garran alone as first-home buyers and young families become more active,” he said.

“Properties are generally selling well in these areas if the vendor is realistic about the price.”

Many midweek auctions recorded solid results, with Blackshaw’s Matt Sebens selling the four-bedroom house at 3 Sayce Place, Florey, at auction for $1.1 million, while Blackshaw Gungahlin’s Adam and Kiri Jones sold the six-bedroom house at 49 Bimberi Crescent, Palmerston, for $1.25 million.

The Property Collective’s Lisa Silberberg sold the three-bedroom house at 46 Bastow Circuit, Banks, for $713,000. It had been advertised at $675,000-plus.