Canberra posts strong clearance rate at weekend auctions with three suburb records broken

Canberra’s auction market at the weekend recorded the strongest clearance rate of 2018 so far.

From 90 scheduled auctions there was a clearance rate of 72 per cent. This comes after the clearance rate dropped below 60 per cent last weekend.

It was also a record-breaking weekend for three suburbs.

Evatt recorded its second sale over $1 million with 4 Callaghan Street. The four-bedroom home sold under the hammer for $1.127 million, beating the northside suburb’s previous record by $7000.

4 Callaghan Street, Evatt Photo: Luton Properties Belconnen

Luton Properties Belconnen selling agent Tim McInnes said there were seven registered bidders at the auction.

“It was a very slow start to the auction but once the first bid of $900,000 occurred, it quickly made its way up to $1 million,” he said.

“Two buyers fought it out between a million to $1.122 million.”

4 Callaghan Street, Evatt Photo: Luton Properties Belconnen

However, the eventual buyer sneakily submitted a last minute bid of $5000 to secure the property.

McInnes did not anticipate the Evatt home would break the suburb record but said the home was “certainly special”.

“The home was well received, it has a really nice layout for families and views both to Telstra Tower and the Brindabellas,” he said.

“It isn’t a contemporary house by any means but it was built well.”

• Related: Aranda home goes under the hammer twice
• Related: Cook home astounds at auction
• Related: Rapid bidding at Griffith home

Suburb records were also broken in Gilmore and Scullin.

In Gilmore 1 Cleary Place sold for $846,000, beating the previous record by $81,000.

The elevated home is generously proportioned and adorned with timber cladding and dramatic soaring raked ceilings.

1 Cleary Place in Gilmore sold for $846,000, beating the previous suburb record by $81,000. Photo: McCann Properties

A modern luxury home at 18 Parer Place in Scullin broke the suburb record by $80,000.

The four-bedroom home sold for $870,000.

18 Parer Place, Scullin, sold for $870,000 on Saturday. Photo: Impact Properties

In total, 11 homes across the inner north, inner south and Belconnen also sold for more than $1 million under the hammer at the weekend.

Although this Thursday marks the first day of autumn, the auction market won’t be cooling down as the second biggest season for bidding begins.

Historically, the month of March sees the second highest volume of auctions. The Saturday before Easter is typically the biggest day on the auction calendar. Crowned “Super Saturday”, this year it will take place on Saturday, March 24.

Will it succeed in continuing its acclaimed reputation in 2018?