Canberra auctions: Spirited bidding for Scullin home bowls over competition

Belconnen has again proved itself worthy of its auction-powerhouse status, with a four-bedroom Scullin home attracting 16 registered bidders on Saturday morning when it went under the hammer.

With such a high number of bidders, it could have been a lengthy and highly contested auction, but it was over in a matter of minutes with the first bid of $771,000 knocking most of the competition out of the game.

“It’s a different strategy, I have never had someone bid to the top of the range to outbid everybody. Obviously, they were a sportsperson in another life,” said LJ Hooker Belconnen listing agent Sharon Schnyder. 

While most of the registered bidders were busy picking their jaws from the floor, another party countered the offer with a bid of $775,000. 

The first bidder was quick to respond with a bid of $783,000. Bidding progressed in increments of $5000 and $1000 until the price reached $797,000, in the “sportsperson’s” favour. 

At this point, the home was declared on the market. LJ Hooker Belconnen auctioneer Frank Pompeani gave the crowd ample opportunity to add a further bid but no one was forthcoming and the home sold under the hammer. 

It’s easy to see why the four-bedroom Scullin was in-demand. The newly renovated home at 24 Broadbent Street is hidden from the streetscape but on stepping inside one is met with a stylish and contemporary home. 

Highlights include a north-facing, open-plan living area, a private front courtyard and a tastefully updated kitchen. 

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Ms Schnyder said “99 per cent” of the buyers were aged between 30 to 40 with young children. 

“Everybody absolutely loved the home but it’s more than the home’s location, it’s the street, it’s the area and it’s the size of the land,” she said. 

“Scullin is prime real estate right now, over the three weeks of this campaign 123 groups inspected the home, and even though it had an extended settlement period there were still a number of registered bidders.” 

According to Pricefinder, Scullin’s median house price currently sits at $580,000. 

Domain data shows Belconnen homes have the greatest success under the hammer. Over September, it recorded a clearance rate of 75 per cent, whereas the overall ACT clearance rate was only 62 per cent.

“In Belconnen, the market is really hot at the moment,” added Ms Schnyder.