Canberra auctions: Mixed results on auction day but demand from young professionals heats up

Young professional buyers continue to dominate the market, snapping up several properties for less than $1 million this week.

An executive couple upsizing from a smaller apartment outbid three other buyers at the auction on Thursday evening for the comfortable family home at 36 Katherine Avenue, Amaroo.

Stone Gungahlin selling agent Jess Doolan said the property attracted strong interest from first-home buyers, with four registered bidders actively vying for the property on the day.

“The reserve was $900,000, and the home sold for just slightly above the price at $905,000,” Doolan said.

The spacious, family-friendly three-bedroom home is in one of the most highly sought-after pockets of Amaroo, just moments from Yerrabi Pond and features a generously proportioned floor plan comprising living and dining spaces and a kitchen with a breakfast bar and two bathrooms.

On a 522-square-metre block, the quality home is in one of the most popular areas of Amaroo, which offers convenience, nature and recreation. Only a minute’s drive from the Gungahlin Town Centre and the Amaroo Village, residents have access to many shops, restaurants, transport, schools and other amenities.

Doolan recently sold the nearby four-bedroom property at 54 Katherine Avenue for $1.1 million.

Elsewhere in Amaroo, the impressive family residence at 4 McHenry Street passed in at auction on Saturday but attracted strong interest.

Luton Properties’ agent, Corbin Eslick, said the property was likely to sell by the end of the day, with the expected price to be in the high $1.3 millions.

With views to Mulligans Flat and Gungahlin, the exceptional four-bedroom, three-bathroom residence offers a range of features that redefine modern living, including four bedrooms and spacious living spaces. The home has a modern kitchen with a butler’s pantry, a large deck with roller blinds, ducted vacuum system, and an oversized two-car garage.

In the prized Red Hill precinct, Blackshaw Manuka sold the stylish three-bedroom, two-bathroom home at 12 Cygnet Crescent at auction for an undisclosed price.

Completed in 2023, this contemporary home offers a range of modern features and quality materials, including 200 square metres of indoor living space over two levels with a north-facing living area and main bedroom. Skylights also maximise natural light to the top level of the home. Entertaining is made easy with a large north-facing living and dining space, which flows out to a generous entertaining terrace and a second living area that opens onto a garden balcony.