Kambah blocks prove to be popular at Mr Fluffy auctions

Kambah sites proved to be the flavour of the day at the Mr Fluffy auctions on Thursday, representing almost half of the blocks sold under the hammer.

Held at the Hellenic Club in Woden, 49 blocks were on offer with only 11 selling under the hammer – a clearance rate of 22 per cent.

Five of those blocks were from Kambah, with a further four from the suburb currently under negotiation. 

The south-side suburb had the most listed for auction on the day with multiple blocks also on offer in Mawson, Torrens, Higgins and Fisher. 

Blocks in Kambah sold for prices from $387,000 to $550,000.

One of the most popular blocks was 133 Boddington Crescent, Kambah, which attracted more than 15 bids from a number of parties. The 1108sq m site had an opening bid of $450,000 and ended up selling for $550,000.

Kambah also had the lowest sale of the day with 45 McDermott Street, which sold for $387,000. At 697 square metres, it was one of the smallest blocks on offer.

The highest sale under the hammer was at 12 Drummond Row, Yarralumla, which sold for $1.12 million.

While only 11 blocks sold under the hammer, a further 17 sites were passed into the highest bidders who have exclusive negotiating rights until Friday, 12pm.

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While underbidders have about 24 hours to negotiate, some were keen to snap up a parcel of land. 60 Dominion Circuit in Forrest sold after the fall of the hammer for $2,345,500 – one of the highest prices paid for a former Mr Fluffy block.

The 1890sq m RZ1 heritage block was passed in at $2.3 million after attracting just one bid.

The volume of Mr Fluffy blocks on Thursday was significantly down on last month’s public auction, where a total of 93 blocks went under the hammer.

To date there have been 770 former Mr Fluffy blocks available for public sale via auction, with an additional 24 blocks to be released on Friday.

Back in January, Colliers International ACT director of residential marketing Shane Radnell said the remainder of the Mr Fluffy blocks are set to be auctioned by the end of the financial year.

A total of 1023 properties in the ACT were listed as being contaminated with Mr Fluffy asbestos in 2015. Of those, 922 have been demolished by the ACT government with an additional 22 demolished privately.