Canberra auctions: Jerrabomberra home sells for $1.8 million under the hammer

A four-bedroom Jerrabomberra home sold for $1.8 million under the hammer on Saturday morning after nine parties registered to bid.

The residence at 1 Wisteria Close attracted more than a dozen people for an indoor auction in the NSW suburb.

Selling agent Lucy MacGregor of Ian McNamee & Partners Queanbeyan/Jerrabomberra/Canberra said she was “impressed by how many people were interested in the property”.

“We had eight people pre-register before the day and one who registered the morning of,” she said.

“This was an architect-designed, award-winning property, so it was just beautiful but it had an interesting floor plan with lots of different rooms and living spaces. It wasn’t going to suit everyone.”

Three of the nine registered bidders actively participated in the auction, with bids starting at $1.3 million.

The price rose in $50,000 increments between the three bidders until it reached $1.8 million when auctioneer Darren Bennett, also of Ian McNamee & Partners Queanbeyan/Jerrabomberra/Canberra, announced it was on the market. With no other offers, the hammer fell.

“The sale price was away above the price guide of $1.5 million but that goes to show how much the buyers wanted it,” Ms MacGregor said.

The buyers were a local Jerrabomberra family who have been on the hunt for a family home to upsize in for a while.

Elsewhere in Canberra, a single-level, free-standing townhouse at 3/30 Kinleyside Crescent, Weetangera, also sold under the hammer for $1.17 million.

Selling agent Chris Uren of Independent Inner North & City said interest in the property was very strong in the weeks leading up to the auction, with more than 120 inquiries. On the day of the auction, eight parties registered to bid.

“Two bidders really fought it out and these bidders were downsizers,” he said.

“While we do have a lot of upsizers, we also have those who’ve sold up and are looking for a single-level, free-standing home to downsize into.”

A number of first-home buyers were also interested in the home, but “you can’t compete with those downsizers in this type of market”, Mr Uren added.

“Downsizers are dominating the market at the moment and because they’ve sold their big homes, they’re cashed up right now and have money to spend,” he said.

The sellers parted with the home after they purchased another property outside of Canberra’s borders.

Government records show the property last sold in 2016 for $662,000.