Canberra auctions: Moncrieff home sells for $1.5 million under the hammer

Buyers were out in force on Saturday as more than 90 properties went under the hammer,  including a four-bedroom house in Moncrieff, which sold for $1.5 million.

The property at 7 Fretwell Street, which enjoys views towards Telstra Tower and backs onto Amaroo District Playing Fields, attracted close to 30 spectators keen to see the auction result.

Bidding for the home kicked off at $1.1 million and increased in increments of $10,000 to $50,000 until the price reached $1.4 million, thanks to four of the six registered bidders.

With no bids forthcoming, independent auctioneer Shane Zwajgenberg placed a vendor bid of $1.45 million. From here, it came down to two parties who increased the price by $1000 and $3000 bids.

Finally, at $1.5 million, Mr Zwajgenberg announced the home was on the market, and the hammer fell with rounds of applause echoing throughout the house.

“The best way I could conceptualise the atmosphere was that there was an exciting tension in the air … then as soon as the hammer fell, it was pure joy from the new buyers,” said selling agent Emma Baker of InStyle Estate Agents.

“This is the type of home you’ll either fall in love with or not, and the new buyers definitely loved it.”

The sellers are only the second owners of the property, and under their care, they added in a feature wall by the fireplace, a deck and spa and installed shutters and heaters.

They also installed a walk-through wardrobe with custom cabinetry in the main bedroom and created private access from the main bedroom to the front deck to take advantage of the views of Telstra Tower.

“This was meant to be the seller’s forever home, and they brought a lot of character into it,” Ms Baker said.

“But they decided to sell for a lifestyle change.”

Government records show the house was last purchased in 2019 for $865,000.

Elsewhere, a three-bedroom home at 7 Laker Crescent, Richardson also sold at auction to a first-home buyer for $865,000.

Selling agent Lauren Laing of The Property Collective said the auction was “busy” with about 40 groups, mostly neighbours, who gathered in the backyard of the 1126-square-metre property.

“We had five registered bidders who, to my surprise, all bid,” she said.

Bidding started at $750,000 and increased in increments of $10,000 and $15,000 until eventually the hammer fell at $865,000.

The home was one of 97 properties scheduled to be auctioned on Saturday. According to Domain data, 114 more properties are scheduled for auction next weekend, making it a “Super Saturday” for the capital.

“We’re not seeing as many people as we used to see during the campaign period, but we’re not too phased because we know the right buyers will come for the right property, and it all comes down to how a house is presented,” Ms Laing said.

“Buyers appreciate the little things and if we put in the work – do the little things – buyers will be willing to pay for it.”