Canberra auctions: Spring blooms but buyers hibernate

As the spring auction season kicks off in Canberra, the market is surging with a flood of fresh listings but, despite some strong results, many buyers are still taking their time to make a move.

In Dickson, the distinctive townhouse at 16/45 Stockdale Street drew a strong crowd and five registered bidders on Saturday. The auction received an opening bid of $780,000 before selling to a first-home buyer for $890,000.

The Property Collective’s Sophie Spokes said the campaign had attracted 60 inspections.

“It was a cool, funky home in Canberra’s popular Inner North, where the sellers had put a lot of effort into creating a distinct vibe,” she said.

Designed by TT Architecture with interiors by The Dept. of Design, the two-bedroom, two-bathroom townhouse featured an expansive outdoor garden courtyard with a large deck and built-in fire pit.

In Greenway, the stylish townhouse at 43/167 Mortimer Lewis Drive was passed in and is now on the market for more than $699,000.

Michael Martin of Luton Properties Tuggeranong Martin said they had two conditional buyers with one reliant on selling their home while the other was waiting on finance approval.

“The campaign attracted interest from downsizers and first-home buyers who were looking to be close to the water,” he said. “It’s a great property in a prized location and we expect the property will sell in the next week.”

Positioned in a boutique waterfront complex, the low-maintenance townhouse offers three bedrooms, two bathrooms, a powder room and a double garage.

In Crace, the impressive five-bedroom, four-bathroom house at 128 Langtree Crescent did not attract any registered buyers on the day as the interested parties were still awaiting finance approval.

Bastion Property Group’s Theo Koutsikamanis said the property was passed in and is now on the market with a quoting range of between $1.6 million and $1.7 million.

Set on a 563-square-metre block and located in a tranquil position across from Gungahlin Hill Nature Reserve, the quality house offers a substantial and versatile floor plan including a fully self-contained unit which could also serve as a fifth bedroom.

There were some strong results recorded during the week, with the three-bedroom house at 58 Paddington Street, Watson, selling at auction on Thursday for $950,000 through Blackshaw Woden’s Robert Peaker.

Peaker also sold the three-bedroom house at 12 Dennis Street, Garran, for $1.285 million.

Also on Thursday, Ray White’s Lucia Marzano sold the four-bedroom, two-bathroom house at 6 MacIntyre Place, Charnwood, for $716,000.

Last weekend saw auction clearance rates dip to 52 per cent, compared to 59 per cent at the same time a year ago.