Canberra auctions: Property market heats up in time for summer

As summer approaches, Canberra’s property market is showing renewed strength, with a number of strong sales recorded, but it is still a buyers’ market.

In Waramanga, Jonny Warren of Jonny Warren Properties sold the semi-detached four-bedroom house at 2/36 Larakia Street under the hammer for $950,000 on Saturday.

He said there were two registered buyers on the day and an opening bid of $850,000, with the property selling to a first-home buyer.

“The couple had been living in Sydney for the past six months and were relocating back to Canberra,” Warren said.

The stylish residence offers flexible accommodation and is ideally located near popular schools, sporting facilities, parks and shops.

“The right pricing and listening to buyer feedback will secure the sale,” Warren said.

In Hughes, the beautifully presented five-bedroom house at 20 Birdwood Street was passed in and is now for sale with a price tag of $1.749 million.

Luton Properties’ Sophie Luton said there had been strong interest throughout the campaign, with 50 groups inspecting the property, but only one registered bidder on the day.

“However there has since been increased interest post-auction,” she said.

Set on a prized elevated block of 1006 square metres, the character-filled residence features expansive views to Woden Valley and is a short walk from Red Hill Nature Reserve and the Hughes shopping precinct.

Luton also sold the impressive four-bedroom house at 6 Guise Place, Jerrabomberra, ahead of its scheduled auction on Saturday.

While the price is undisclosed, the agency had been quoting in the $3.85 million to $4.235 million price range.

Featuring panoramic views to the city and the Brindabellas, the palatial, award-winning residence is set on a landscaped site of 1249 square metres and boasts an expansive floor plan with formal and casual living spaces, home theatre, gym and wellness room.

Strong results were also recorded during the week.

In Chisholm, the four-bedroom house at 14 Muntz Street was sold through Ray White’s Alec Brown for $937,000, while the five-bedroom house at 168 Heagney Crescent was passed in and is for sale for more than $875,000.

Belle Property’s Dan McAlpine sold the three-bedroom property at 59 Enid Lorimer Circuit, Chisholm, for $810,000, while Josh Yewdall sold the five-bedroom house at 44 Burns Circuit, McKellar, for $1.08 million.

With 124 auctions scheduled last weekend, the clearance rate remained stable at 49 per cent, but up on the 41 per cent recorded a year previously.