‘A trifecta of accomplishments’: Couple nabs Holt home for $652,000 at auction

A three-bedroom home in Holt sold under the hammer on Saturday morning after a fierce bidding war between five registered parties pushed the price to $652,000.

A handful of onlookers gathered in the garage of 23 Griffiths Street, keen to see the auction unfold.

Listing agent and auctioneer Mark Larmer of Independent Inner North & City said buyers had a big appetite for houses at the moment, noting many came to the auction despite the rain and harsh winds.

An opening bid of $450,000 kicked off the proceedings and was quickly countered by a $10,000 raise.

The price rose fast in $10,000 increments with all five bidders putting in an offer, and one party increasing their bid by $15,000. 

When the price reached $630,000 it whittled down to a two-horse race, with one party placing odd $2000 and $7000 raises.

Their strategy worked.

After the underbidder placed in an offer of $647,000, it was quickly countered by a $5000 offer. 

When Mr Larmer asked for a counter-offer, the underbidder replied with: “Sell it to the lovely ladies,” which Mr Larmer did. The hammer fell at $652,000.

The new buyers, Emma and Mary, said they’d been looking for the perfect home “on and off for the last three years” and had finally secured their forever home.

“I did a lot of research on Allhomes using previous sales data, we watched some auction strategy bids … so we had a game plan,” Ms Wensing said.

“We just got married a year ago and I graduated with a PhD last Friday and today we bought a house, so it’s a trifecta of accomplishments at the moment.”

Ms Wensing said they attended 12 auctions in the last three weeks to spectate and participate.

“We bid for one home but weren’t successful in it … so, when we bid this time around, we felt like we needed a different strategy to secure this home,” she said.

Mr Larmer described the atmosphere of the auction as “very positive”, adding that the registered bidders were made aware of the buyers’ guide prior to the auction.

“People knew what they were getting themselves into, so everyone who turned up was there to buy … there were no uncertainties,” Mr Larmer said.

The campaign brought in more than 70 groups and more than 90 online inquiries, he added.

“The people that bought the property had been through it five times throughout the campaign, the underbidder came six times … the more they went back, the more serious they become,” Mr Larmer said.

Elsewhere, a four-bedroom property at 38 Parsley Street, Harrison sold under the hammer for $785,000 with just one bidder.

Listing agent and auctioneer Steve Langford of Hive Property said he had 46 groups through the home and a handful of interested buyers “who were not in a position to bid on the day”.

“The first bid started at $700,000 and by private negotiations with the bidder and the vendor, the bidders were able to up their offer by $85,000 and that was enough to secure the keys,” Mr Langford said.

Speaking on the market, Mr Langford said the coronavirus pandemic has had little impact on the Canberra property market.

“Buyer confidence has remained high … there are a lot of families looking for a home within the $750,000 to $950,000 [range] but there just aren’t enough houses available,” he added.

“However, things seem to be getting better as we move into the spring selling season.”