Canberra’s auction market heats up in time for summer

Luxury-home and first-home buyers were out in force as a wave of properties at all price points were snapped up at auction on Saturday.

MARQ Property’s Luke McAuliffe and Suzi Wells sold the architect-designed five-bedroom, three-bathroom residence at 15 Sue Geh Circuit, Nicholls, at auction for just over $2.2 million. The full price was not disclosed.

Wells said the property attracted five registered bidders, with three buyers fighting it out after an opening bid of $1.5 million.

“Nicholls is showing it’s the place with bang for your buck,” McAuliffe said. “This latest sale [is] the 12th to pass the $2 million mark. There’s definitely high demand in the area with strong results being achieved.”

Set on a meticulously landscaped block of 980 square metres, the luxurious home offers a generously proportioned floor plan with expansive views from the Gold Creek golf course to the Belconnen town centre and the Brindabellas.

The property presents exceptional street appeal, complemented by professionally designed gardens, contemporary finishes and separate living areas. It has generous entertaining spaces, a study and a double garage.

McAuliffe sold another home with extensive views just two weeks ago. The five-bedroom house at 35 Sue Geh Circuit went for $2.186 million at auction.

Situated on a large 1244-square-metre site, the home had six registered bidders and 40 bids before it sold.

The strong sales of the two houses highlight one of the findings in the Domain End of Year Wrap 2023 report, which showed that “views” was one of the top keyword searches for the year in Canberra.

Elsewhere on Saturday, first-home buyers were out in force when the charming two-bedroom home at 107 Macrossan Crescent, Latham, sold under the hammer for $622,000.

Luton Properties’ Sophie Luton said the agency had been quoting a price of between $580,000 and $620,000.

“The home attracted two registered bidders and sold to a first-home buyer,” she said. “It was a quick auction with an opening bid of $550,000, and the gavel falling in just five minutes.

“Being on its own title with no body-corporate fees was also a key feature in the strong result that was achieved.”

The well-presented, light-filled home is set on a low-maintenance block of 317 square metres with good-sized accommodation, ample storage space and a single garage with automatic door and internal access.

While strong results are being reported, the Domain report showed that the proportion of Canberra sales occurring at auction was just 20 per cent in 2023.