Canberra auctions: Strong prices recorded amid unpredictable market

Canberra’s property market delivered varied outcomes this past week, with strong individual sales offset by a dip in the city’s overall auction clearance rate in the week prior.

The rate reported on October 19 was down to 48 per cent, significantly lower than the 65 per cent recorded a year previously.

There were some standout results for this last weekend in October, with MARQ Property’s Sam Taylor reporting strong sale prices for two properties in Crace.

The luxuriously appointed five-bedroom house at 25 Keewong Street sold immediately after auction on Saturday for $1.585 million.

Taylor said the stunning house received one registered bidder and was passed in at $1.5 million before a sale was negotiated with the bidder.

Located in one of the suburb’s most prestigious streets, the light-filled residence was positioned on a 564-square-metre site and featured a spacious floor plan, an in-ground swimming pool and a double garage plus carport.

Taylor also sold the modern four-bedroom house at 164 Langtree Crescent, Crace, prior to auction for $1.2 million.

“We were expecting a price close to $1.1 million to $1.13 million,” he said, adding that the buyer was a downsizer from Nichols.

Taylor said that, while the housing market remained unpredictable, strong results were being recorded.

In Gordon, the stylishly presented four-bedroom house at 9 Clem Hill Street sold for $926,000 through Luton Properties’ Tim and Justine Burke.

Tim Burke said they had anticipated the auction could go either way, but one registered bidder met the price so it was a good result.

Located in one of Gordon’s most sought-after streets, the split-level house sat on an elevated block of 875 square metres and featured views over the valley and surrounding mountains.

Burke also auctioned the tastefully presented four-bedroom house at 86 Fidge Street, Calwell, which was passed in and is now on the market for more than $1 million and is expected to sell.

Set on a substantial 1220-square-metre block, the quality house offers separate living areas, a renovated kitchen, an in-ground pool and a double garage.

“It’s actually a great time to buy, with good opportunities for buyers in this market,” Burke said.

A number of weekday auctions struggled to get over the line, with few sales reported.

In Latham, Ray White’s Peter Walker sold the two-bedroom property on 669 square metres at 1 Moorehead Place for $619,500, while the elevated four-bedroom house at 25 Harbison Crescent, Wanniassa, was passed in and is now for sale through Civium Property Group for over $1.2 million.