Canberra auctions: Five-bedroom Scullin home sells for $690,000

A five-bedroom Scullin home sold under the hammer for $690,000 on Saturday morning. The recently renovated home at 20 Gatty Place, sits on a 693-square metre block. 

LJ Hooker Gungahlin listing agent Antony Damiano described it as a quintessential family home. 

“The set up is very typical of a big family home from the 1970s and 1980s,” he said. 

There were five registered bidders at the auction, however, only two participated in the bidding. 

Bidding got underway at $600,000, and was countered by a bid of $610,000. A bidder then attempted to make a bid of $7000, but auctioneer Kaylene King would not take it, claiming it was “too early to shorten the stride”. 

The bidder then increased the bid to $620,000. 

Bidding continued in increments of $10,000 until the price reached $670,000, when increments declined to $5000, $2500 and then $1000. 

At $685,000 bidding stalled and Mr Damiano conducted back-and-forth negotiations between the vendors and bidders. 

After approximately three minutes, Ms King consulted with the vendors and the decision was made to put the home on the market. 

An additional four bids were made before the home sold for $690,000 to a young family. 

• Related: 1950s weatherboard Narrabundah cottage snapped up at auction 
• Related: Isaacs home belonging to well-known Canberra family sells under the hammer
• Related: Duffy home sells for $725k

“The vendors are really happy they passed it along to another family who are going utilise it in the same way they did.” 

The vendors have upsized to a home in Cook. 

Mr Damiano said he had been impressed with the campaign. “Belconnen is very strong at the moment,” he said. 

“There’s not much on the market and the owners took advantage by presenting it fantastically. It was a really good campaign.

“If you think you have an idea of what your property is worth, it’s probably worth a little more in this market.” 

Scullin’s median price is $585,000. The suburb record is $870,000, this was achieved in February at 18 Parer Place. 

In other auction results, south of the lake, 42 Barr Smith Avenue in Bonython sold for $771,000. 

The four-bedroom home was marketed as a family home in a tightly held suburb. 

There were 54 scheduled auctions on Saturday in the nation’s capital.