Canberra auctions: Late bidder snaps up Torrens house for $915,000

House hunters were out in force on Saturday, braving the miserable weather to compete for more than 30 homes scheduled to go under the hammer on Canberra’s second auction weekend of the year.

In Woden Valley, almost 50 people turned out for the auction of a three-bedroom house in Torrens, snapped up for $915,000 by a late bidder who swooped in at the end of the race.

The house at 4 Davies Place was one of 31 properties scheduled to go under the hammer in Canberra on Saturday. 

Bidding for the 833-square-metre block was quick to start, with an opening offer of $750,000. The price rose in a mix of $10,000 and $5000 bids until it reached $900,000, thanks to offers from four of the six registered bidders.

One bidder made a further $7000 raise before auctioneer Robert Peaker of Blackshaw Woden, Weston Creek and Molonglo announced the home was on the market.

It was only then that a fifth bidder joined the race, securing the keys with her second bid of $915,000.

“Despite the rainy weather, the auction went really well,” said selling agent Anthony Weston of Blackshaw Woden, Weston Creek and Molonglo, who showed 110 groups through the house during the three-week auction campaign.

“We had a great turnout and knew that it would have a strong result because it had a number of groups through, contracts sent out and strong hits online,” said Mr Weston.

Mr Weston said there was strong competition for properties in the area, with only a handful of houses on the market in Torrens.

“People are reluctant to let go of their homes, especially in this area because there are great schools and shops nearby,” he said.

“Once you buy here, you stay here for a long time.”

Mr Weston expected strong buyer demand would continue to push up house prices across the market.

“New data showed that house prices across Canberra regions have risen, and that’s reflective of what we’ve seen in the market,” he said.

Domain’s latest House Price Report for the December quarter 2020 showed Canberra’s overall median house price reached a record high of $855,530, up 6.4 per cent over the quarter and 9.1 per cent year-on-year.

Further north in the Gungahlin region, a five-bedroom house at 45 Helby Street, Harrison sold under the hammer for $960,000.

The property attracted fierce bidding from five of the seven registered parties. Offers kicked off at $700,000 and increased in $50,000 increments, slowing to $10,000 and $2000 jumps before the hammer fell. 

“It took a bit of time to the end but the intent from the buyers was there,” said selling agent and auctioneer Steve Langford of Hive Property.

Mr Langford said the auction campaign had seen a number of families through the door, with close to 70 inspections conducted.

“It was a solid campaign. We had a good turnout in bidders and close to 100 spectators that included both families of the registered parties and neighbours,” he said.

“It’s a great family home and that’s what attracted a lot of people, especially those big families that were looking for a lot of room and space to entertain.”

The new homeowners are a local Gungahlin family who had been looking to upsize for some time.