Canberra auctions: Solid start to 2025 auction season

Canberra’s first auction weekend of the year delivered strong results, setting an encouraging tone for the year ahead, with agents reporting solid buyer activity and competitive bidding.

In Yarralumla, Hive Property’s Leanne Palmer sold the striking three-bedroom house at 27 Hutchins Street under the hammer for $1.98 million on Saturday.

Palmer said the campaign had been strong, with well-attended inspections and three registered bidders turning up on the day of the auction.

Set in a coveted tree-lined street near the Yarralumla shopping village, the stylish and beautifully appointed residence features formal and informal living and dining areas, two bathrooms and a double garage.

Palmer said there had been heightened activity heading into 2025, with buyers approaching the market with intent in their eyes.

AM Property Agency’s Luke Lindley said he had also been seeing stronger buyer interest this year.

“We’re seeing more confidence in the market primarily due to falling inflation and the likelihood of interest rate cuts,” he said.

Lindley sold the stunning five-bedroom residence at 55 Smeaton Circuit, Banks, at auction on Saturday for $955,500 after an opening bid of $920,000.

He said it had been a textbook campaign and auction.

“There was strong interest throughout the campaign and four registered bidders on the day, with the successful buyer upgrading from a smaller home,” Lindley said.

Set on a 918-square-metre site, the well-designed house offers 214 square metres of internal space, including two distinctive living areas, a fully equipped kitchen, five generous bedrooms, two bathrooms and a triple garage.

In Isabella Plains, the well-presented four-bedroom house at 39 Hadleigh Circuit was sold through McCann Real Estate’s Mark McCann for an undisclosed price but slightly higher than the $1.05 million quoting price.

McCann said there had been two registered bidders on auction day, and bidding started at $900,000.

The property was sold to a young family who had grown up in the area and were moving back. The seller was relocating to a coastal home.

A number of properties were passed in at auction during the week.

The two-bedroom, two-bathroom apartment at 6/9 Irving Street, Phillip, failed to sell and is now for sale through Belle Properties’ Michael Pead for $609,000-plus.

Luton Properties’ Ben Holder has two four-bedroom houses in Olive Pink Crescent, Banks, still for sale. Number 12 is advertised for $1.135 million, while number 40 is for sale for $1.02 million.