Canberra Auctions: Record prices for properties selling after auction

Clearance rates may still be down, but record prices are being achieved for many properties selling after auction.

A case in point is the fully renovated four-bedroom house at 3 Lines Street, Holder, which set a record price for the suburb this week when it sold after auction for $1.65 million.

Agent Jonny Warren of Jonny Warren Properties said the residence attracted over 8000 online views, 100 enquiries, 56 inspections and eight registered bidders.

The property was passed in at $1.58 million on the day of the auction.

“It was an emotional campaign with the seller having owned the property for 26 years, transforming the residence from a modest house to their dream family home,” Warren said.

“New buyers came out of the woodwork immediately after the auction, so it was a great result for all concerned, with the home selling to a young couple who were relocating to be closer to family and who were also expecting a child in January.

“The feedback for the home during the campaign was interest at around the $1.5 million to $1.6 million mark, but two buyers came out after the auction and began a bidding war, which pushed the price up.

“Holder is an underrated suburb and becoming a really sought-after area so the strong result the property achieved wasn’t really a surprise.”

Set on a 1076-square-metre block, the home has been designed for sustainability while being fully transformed to offer expansive family living and entertainment areas.

The result follows other top deals recorded during the week, including the $2.8 million sale of the four-level townhouse at 18D David Street, Turner, which was sold by Hive Property’s Josh Morrissey.

A stylish penthouse in the Grand Central Towers at 15 Bowes Street, Phillip, sold for $1,507,500 through Edge Quality Property’s Ilia Mangos.

Agents are continuing to convert properties to private sale ahead of auction day as unconditional buyers all but disappear.

Belle Property’s Ahmad Souweid withdrew the house at 32 Bedford Street, Deakin, from auction just days before it was scheduled to go under the hammer, instead listing it for private sale with an asking price of $1.699 million-plus.

Souweid said there had been strong interest in the property but all were conditional buyers, so it was converted to a private sale.

The functional four-bedroom character home is set on a 608-square-metre block and features an elevated front terrace overlooking La Trobe Park.