Weetangera home sets suburb and region records with $2.145m sale

A six-bedroom Weetangera property broke records after it sold for $2.145 million at auction, setting a new suburb benchmark and the overall record for the broader Belconnen region.

On 1257 square metres of land, the property at 10 Gillespie Street attracted many potential buyers, selling agent Paul Corazza of Independent Gungahlin said.

“One party was a car enthusiast who loved the seven-car garage, another was a young couple who wanted the granny flat as an additional living space for relatives, and we had a cashed-up couple who appreciated the home’s quality finishings,” Mr Corazza said.

“The home served many buyers’ needs and wants, and that’s why it achieved a strong sale.”

Internal Allhomes data shows the property had close to 11,300 views and an engagement number* of more than 235,200.

The property went to auction on Wednesday and sold under the hammer to a crowd of more than 70 people, director of residential sales at Independent Stan Platis said.

“People were queuing outside the door,” he said.

“Even though it was a mid-week, midday auction, we had a big crowd of both registered bidders and interested neighbours. The property is on a huge block, and despite that, there wasn’t enough room for everyone to keep at a safe COVID distance, so we hosted it at the front of the home.”

Mr Corazza said 11 parties registered to bid for the house, and of those, only three participated.

“There aren’t 50 buyers purchasing a $2 million property, but the few bidders who participated put in strong offers,” he said.

“The auction went really well and sold in minutes with the bidder driving the price from $1.8 million past the $2 million mark, and [it] eventually sold under the hammer at $2.145 million.”

The eventual buyer was a local resident who’d been on the hunt for five months for their dream home.

The property surpassed the previous suburb record by $570,000. It had been held by the property at 115 Springvale Drive after it sold for $1.575 million in March 2020, government records show.

No. 10 Gillespie Street also beat Belconnen’s broader region record by $105,000. The property at 8 Marrakai Street, Hawker, previously held the region record when it sold for $2.04 million in August 2020.

“I knew when we first listed the home that the property would break records; I just didn’t know how much it’d beat it by,” Mr Corazza said.

Mr Corazza added buyers were outweighing the number of properties available to purchase, with numerous buyers putting in pre-auction offers.

“Buyers who didn’t want to purchase via auction are now having to try their luck at bidding because there aren’t many houses for sale via private treaty,” he said.

Mr Platis said he’ll be keeping an eye on this weekend’s auction clearance rate.

“Canberra has recorded an auction clearance rate of more than 80 per cent for several weeks now, and even though it’ll be a long weekend in the capital, buyers are plentiful,” Mr Platis added.

Despite the Anzac long weekend, Domain data shows there will be 34 auctions scheduled on Saturday.

“There are still a few auctions this weekend, so it’ll be really interesting to see if that clearance rate will still be achieved.”

*Engagement levels are calculated by the number of clicks on a property’s floor plan, photos, video, 3D tours and property history, and utilising the map functions such as clicking on the aerial view of the property and land details.