Auction watch: Canberra's clearance rates dip as summer heats up

The second last auction weekend of the year attracted a number of strong sales, however almost 40 per cent of properties failed to sell under the hammer.

Canberra recorded a clearance rate of 61 per cent on Saturday for the second week in a row.

While 92 homes were listed for auction across Canberra on Saturday – comparable to the last few weeks of the busy spring season – the clearance rate was a dip from November’s figures, according to Domain Group data.

Last week’s clearance rate of 61 per cent followed the 68 and 75 per cent clearance rate of the previous two weeks.

However, amid the relatively low clearance rates there were several big sales, with seven properties selling for more than $1 million.

Most of these were concentrated within the inner south, however two houses in the central Belconnen suburbs of Aranda and Bruce sold for $1,180,000 and $1,426,000, respectively.

Peter Blackshaw Manuka sold five of the million-dollar homes and agent Mario Sanfrancesco said the sale of a dual occupancy at at 1B Finniss Street in Narrabundah was among the highlights.

Mr Sanfrancesco said the suburb had previously been overlooked in favour of neighbouring inner south suburbs, however it was “finally being discovered”.

“People are starting to realise it’s so close to many amenities in the inner south and even in today’s market it still represents good value,” Mr Sanfrancesco said.

On the other side of town a dual occupancy in Macquarie sold for $862,000. It represented a strong sale for the suburb, which has a median non-unit price of $618,750.

Luton Properties Dickson agent Aniko Carey said the executive home at 13A Liverpool Street was beautifully presented and garnered strong interest throughout the course of the campaign.

Ms Carey said the home’s position, close to the city and Belconnen was another major attraction.

Brumbies former boss Michael Jones’ house was the biggest sales of the day.

The five-bedroom home at 16 Hobart Avenue in Forrest sold for $2.27 million under the hammer through LJ Hooker Manuka agent Stephen Thompson.