Canberra auctions: Red Hill home sells for $2.53 million in a competitive auction

A home tucked away in its expansive front garden in Red Hill sold under the hammer on Saturday for $2.53 million, in an auction where bidders were in their element. 

The four-bedroom home at 9 Roebuck Street is surrounded by well-looked-after gardens that were complemented by the beautiful weather, according to selling agent Bree Currall of Belle Property Canberra. 

“I feel like the overall energy is coming back into the market now that it is spring … It was warm, there were lots of people here, and that was great,” she said. 

Bidding started at $2 million when one of five registered bidders followed the starting price advice of auctioneer Alexander Smout.

From there, a second bidder took the bidding to $2.2 million. It then increased in increments ranging from $10,000 to $35,000 until $2.4 million was reached. 

A couple of bids later, the price reached $2.435 million, and the home was declared to be on the market. 

From there, bids in increments increasing from $5000 to $10,000 were placed until the final sale price of $2.53 million was reached, and the hammer fell. 

Just under 25 bids took the auction from beginning to end. 

Despite having “really good numbers” coming through during the open homes, the result was over initial expectations, Currall added. 

“There were quite a few coming through during the open homes … we had around 90 altogether,” she said. 

“The result did end up being a little over our expectations, and it was really good to see that kind of bidding in this market.” 

The vendors had lived in the home for 11 years and decided it was time to downsize. 

Currall said the home had everything that encourages sales in the current market.

“I think anything that is premium in terms of its location, like this home, and those that are highly sought after for what is on offer are still selling really well,” she said. 

“This home has great views, it’s on a beautiful block adjacent to a reserve, and it has a sizable floor plan. 

“It just ticks a lot of boxes for the types of buyers that we’ve got out there at the moment.” 

Meanwhile, the home at 2 Benaroon Circuit, Amaroo, also sold at auction for $990,000, said selling agent Michael Braddon of Blackshaw Gungahlin.

There was only one registered bidder for the four-bedroom house at the auction, but a lot of potential buyers were in the crowd who couldn’t participate under the auction conditions and wanted the home to pass in. 

Braddon said the campaign drew in around 45 interested groups, which is an achievement in today’s market. 

“Normally, the numbers would measure less than that for homes like this since the market has changed and has been impacted by rising interest rates,” he said. 

“We knew we had interest from some conditional buyers, but we had one unconditional buyer that was ready to pay what the owners were happy with. 

“The result was relatively expected; recent sales in the area suggested anywhere between $950,000 and $1 million, so to get to $990,000 was a great result.”