Amaroo home passes in at $870,000 but sells soon after

A four-bedroom Amaroo home sold after auction today for $885,000, after passing in earlier on a bid of $870,000.

A crowd of a dozen people gathered inside the house at 6 Burdekin Avenue, keen to see if it would sell.

Selling agent Kostya Logvinov of Harcourts Belconnen said despite the house passing in, the campaign, the auction process and private negotiations ran smoothly and “reached a good result for all”.

A bid of $730,000 kicked off proceedings and the price increased in increments of $20,000 until it reached $770,000. The stride then shortened to $10,000.

When the price reached $850,000, one bidder then upped the stakes with a $20,000 increase, which no other party was able to compete with.

“When it passed in, it took about 45 minutes of negotiations with the highest bidders before we were able to reach an agreed sale price of $885,000,” Mr Logvinov said.

All five registered bidders were young families looking to get into the area.

“The area has a great primary school and, with the new Amaroo Village Shopping Centre and the Gungahlin centre only minutes away, a lot of families were drawn to the property,” he said.

“It’s also situated on a big parcel of land and is flooded with natural light, so that was a drawcard for a lot of our bidders.”

The vendors had decided to part with their home after more than two decades, he added.

“It was the first home they built in Australia and it was the right time for them to move on and start the next chapter of their lives.”

Elsewhere, a four-bedroom property in Fadden sold under the hammer for $900,000 to the single registered bidder.

Listing agent Andrew Thorpe of One Agency Andrew Thorpe said despite the low turnout of bidders for the residence at 34 Nicklin Crescent, the property was quite popular during the campaign.

“Overall, we had 108 visitations and 94 groups interested in the home,” Mr Thorpe said.

Bidding for the house kicked off at $860,000 before it was countered by a vendor bid of $870,000. From here, the sole bidder raised their offer to $890,000 and then by $10,000 before the hammer fell.

“The property is immaculate. It’s on more than 700 square metres of land and has manicured, well-manicured, lawns and is located in a sought-after suburb which a lot of our buyers liked,” Mr Thorpe said.

Most recently, Fadden’s suburb record was broken by a five-bedroom home at 17 Sparkes Close for $1.3 million via private negotiations.

“It’s definitely a sellers’ market right now and the interest that’s been coming through for properties is largely fuelled by the lack of stock at the moment,” Mr Thorpe said.

“Although, we’ve seen a number of properties hit the market this week compared to previous weeks so it’s quite a positive outlook for Canberra despite the pandemic.”