Canberra auctions: Belconnen apartment fetches better-than-expected $955,000

While auction clearance rates remain relatively low in the capital, the auction process is still delivering successful sales in one way or another. 

A three-bedroom apartment at 79/20 Beissel Street, Belconnen, which initially passed in at auction on Saturday, sold just a few hours later for $955,000, according to selling agent Bree Currall of Belle Property Canberra. 

The auction had only two registered bidders, and drew a small crowd of interested neighbours, Currall added. 

Around 40 people had inspected the property during the campaign and it had received “lots of positive comments”, she said, but the auction was “pretty quiet, and we expected that”.

“While there was a large number of people inspecting the property, there hadn’t been a high level of engagement,” Currall said. 

“We didn’t attract any investors, and there were no first-home buyers looking at the apartment at all.

“The buyer feedback suggested prices that were less than what the apartment sold for, so it was actually really good to sell the home for the price we got to.” 

Despite making a sale in the end, Currall said the auction’s atmosphere was flat due to limited purchasing interest in the crowd.

“[Out of the two bidders], one turned up on the day and saw the apartment for the first time, and wasn’t really in a position to bid but wanted to have the first right to negotiate,” she said. 

“The other bidder was known to us – they really loved the complex and are currently renting within it – so they were a really well matched buyer.

“With only neighbours who already live in the complex in the crowd, everyone was just interested to see how it all went, rather than actually wanting to participate.” 

Elsewhere, a home in Harrison sold under the hammer on Saturday for $900,000 in an auction that was more lively than initially anticipated, according to selling agent Stacy Otero of Blackshaw Gungahlin. 

The three-bedroom villa at 51 Katoomba Street attracted four registered bidders, with two who were “particularly active” throughout, Otero added. 

“We had a good crowd watching on and enjoying every moment, and a few neighbours came down too, which we absolutely loved,” she said. 

Throughout the auction campaign, the number of inspectors was steady, with over 30 coming through in total.

Otero said only two of the registered bidders were expected to attend and participate in the auction, but the additional two were a “pleasant surprise when they joined in”. 

“The owners worked really hard and followed our advice to have the property looking beautiful, which is what encouraged the sale,” she said. 

“With fresh paint and new carpets, a move-in ready home is extremely desirable in this market.

“The owners love their property and its location, and they were so pleased to be able to sell to a live-in owner who was thrilled with the result.” 

Last Saturday, Canberra’s auction clearance rate was 57 per cent, which was a significant drop from the 89 per cent recorded this time last year.