Canberra auctions: Fast bidding sees Hawker townhouse sell for $970,000

A townhouse in Hawker sold under the hammer for $970,000 in an auction on Saturday that was over in less than three minutes. 

The three-bedroom townhouse at 10/42 Jinka Street attracted six registered bidders with five active on the day, and 60 groups through the home during the three-week campaign, said selling agent James Scott of VERV Property. 

“I think it’s a great result today, and it goes to show if you market a property properly in this market, you can still achieve great results,” he said. 

Bidding started with one of the six bidders kicking off at $800,000. 

Two other bidders entered the competition with pace, placing bids of $850,000 and $875,000 in quick succession. 

This was followed by a bid of $900,000, and one of the participating bidders chose to step out. 

Two more bids rising in $10,000 increments took the sale price of the home to $920,000 and it was then announced to be on the market. 

Following this, a new bidder entered the race, placing a quick bid of $930,000. 

Another stepped out of proceedings, and the two remaining bidders then increased their offers back and forth in increments of $10,000, and with no more bids at a price of $970,000, the hammer fell. 

Scott said there was no surprise the sale of the home was as successful as it was, despite a shorter campaign to get the home sold prior to Christmas. 

“The market is still showing that stunning homes are still in high demand – these classic Canberra single-level homes appeal to a lot of people in the market at the moment too,” he said. 

“At the end of the day we don’t set the market, the buyers do, and the seller puts their trust in me to run the right campaign and to focus the marketing in the most effective ways I could.

“It’s a gorgeous block in a tightly held suburb, so there is no surprise in how everything played out today.” 

The buyers of the townhouse were an older couple looking to downsize and find a home that better suited their needs, as well as that of their extended family. 

“They – like a lot of people in the market at the moment – were looking for something with space that is also conveniently single level,” Scott said. 

“They liked that this home had a nice open-plan design, with enough room for their kids and their grandchildren to be able to visit.

“They also ended up coming through the home five times during our inspections, so there is no shock that they were the ones that took the home over the line in the end today.” 

The seller is parting with the home to explore options to better meet their changing needs.