More than 100 Mr Fluffy blocks in Canberra auctioned over four days in May

Buyers have snapped up about half of the 110 remediated Mr Fluffy blocks auctioned this week with some still under negotiation.

Agents have attributed the lower clearance rate across the four auction nights to the varied assortment of lots available.

It was the first time the reserve prices for some of the parcels were released prior to auction, attracting a smaller but committed number of registered bidders to those events.

An 847-square-metre block at 28 Moorhouse Street in O’Connor was the biggest sale under the hammer, selling for $1.19 million on Thursday.

Independent Property Group project marketing director Wayne Harriden said a 1384-square-metre parcel at 35 Godfrey Street in Campbell – the largest inner north block for sale – sold immediately after auction for $1.25 million.

Independent Property Group coordinated the northside auctions on Wednesday and Thursday, while Civium Property Group auctioned the southside sites on Monday and Tuesday.

The reserve was disclosed for 53 of the blocks in the Belconnen suburbs of Macgregor, Flynn and Holt, as well as Kambah in Tuggeranong and Rivett in Weston Creek.

Reserves were not disclosed for the remaining lots scattered throughout Hall, Belconnen, the inner north, Woden Valley and Weston Creek.

Prior to May, auction nights have focused on specific regions.

Mr Harriden said the release of reserve prices for the Belconnen blocks attracted 20 registered bidders to Wednesday night’s auction: half were developers and half home buyers.

Eight of the 22 blocks sold under the hammer, with another four sold over the counter.

“[Registered parties] had picked a block, they were committed to pay that price or a couple grand over,” he said.

“One or two blocks were contested, the rest had one bid and were done and dusted. We went through all the blocks in 31 minutes.

“It was an interesting dynamic. The room was very calm because people knew what the reserves were.”

Half of the remaining 22 northside blocks sold under the hammer on Thursday, with another four snapped up post-auction as of Friday.

Mr Harriden said the assortment of properties attracted 70 registered bidders.

The majority of Thursday’s buyers were residents looking to build their own homes. One builder bought a couple of blocks.

“Because the blocks were so varied the crowd was quite diverse,” Mr Harriden said.

He said three Hall blocks were a rare offering, with two sold. One, a 2029-square-metre parcel at 8 Palmer Street, sold for $985,000.

Civium Property Group chief executive Doug O’Mara said 25 of the 63 southside blocks had sold as of Thursday night, including 12 under the hammer and more via negotiation.

“There’s been a bit of a mix of buyers but definitely builders have been more prevalent than home buyers,” he said.

A package of three lots at 65, 67, 69 Buvelot Street in Weston Creek were among the blocks on offer and had drawn strong interest. They range from 733 square metres to 923 square metres.

Mr O’Mara expected the trio to be sold in the next few days. A maximum two properties can be built on each block, with a series of townhouses a likely project.

“There’s a little topography on one of those sites – it wasn’t flat – which may have held some people back but I think we’ve got good interest,” he said.

“There has been some high density blocks in Weston Creek – the ones with development potential are the most in demand.”

The May auctions are the last of the 2016-2017 financial year. Not all sales prices have been released yet.