Canberra auctions: Downsizers, upsizers and interstate buyers drive strong results

Canberra’s auction market generated strong results on Saturday after drawing a high number of registered bidders.

Agent Team’s Steve Lowe sold the impressive four-bedroom, three-bathroom house at 10 Morell Close, Belconnen, for $1.37 million, and said the free-standing property went to an upsizer wanting a CBD location.

“The campaign attracted more than 8000 views and 100 inspections,” Lowe said. There were 12 registered bidders on auction day.

“It’s a rare property so there were no comparable sales with feedback during the campaign around the $1.2 million mark.”

Bastion Property Group’s Theo Koutsikamanis sold the immaculately presented four-bedroom, three-bathroom residence at 142 Kosciuszko Avenue, Palmerston, under the hammer for $1.07 million.

Koutsikamanis said the property attracted three registered bidders who were all interstate buyers looking to relocate to Canberra.

“It was a well-maintained residence in a highly convenient area, with its three-car garage and additional carport adding to its appeal.”

Elsewhere on Saturday, The Property Collective’s Lisa Harper sold the stylish, three-bedroom house at 6 Morris Street, Higgins, to a downsizer for $900,000.

Harper said the successful buyer put in the opening bid of $860,000 and secured the property against six other registered bidders.

“Higgins is a popular area in the Belconnen precinct and this particular property drew 4000 views during the campaign with 53 potential buyers through the opens,” she said.

Higgins has been a solid performer over the past year with its median house price increasing by 2.5 per cent to reach $835,000.

Clearance rates rose to 63 per cent last weekend, but talks of interest rate rises during the week resulted in many weekday auctions failing to produce sales.

Agents said they remained optimistic of gaining results in the coming weeks.

In Red Hill, Belle Property’s Alexander Smout passed in the luxurious three-bedroom penthouse at 28/9 Lady Nelson Place, and it is now on the market for more than $1.7 million.

The meticulous apartment by the renowned DOMA Group offers breathtaking views.

Elsewhere, Luton Properties Gungahlin is offering the expansive 1547-square-metre site at 19 Adder Street, Harrison, which had been marketed at about $1.55 million.

A one-bedder at 2013/120 Eastern Valley Way, Belconnen, is also still for sale at $349,000.