More than 150 blocks of Canberra’s most affordable land slated for auction

The ACT government is set to auction 175 blocks of land on Wednesday and Thursday in what are some of the most affordable sites currently on the market in Canberra.

The blocks, located in the suburb of Taylor, have reserves priced from $285,000.

“We have 19 blocks under $350,000 and of those, five blocks are under $305,000,” said Suburban Land Agency chief executive John Dietz.

In a twist, all the reserves of the blocks have been disclosed.

Mr Dietz said disclosing the reserves would help buyers in the current tight lending environment.

“We want to be open, transparent and fair with the public,” he said, “… this gives people time to get their finances sorted.”

There will be six sessions across the two days. Mr Dietz said: “We purposely grouped similar blocks so people can gauge bidding.”

The total value of land is $70 million.

• Related: ACT government sets target for more three-bedroom units in central Canberra
• Related: Long-awaited Giralang Shops site hits the market 
• Related: ACT rental laws set to undergo shake-up

Taylor welcomed its first residents in May, and there are set to be 2500 dwellings in the suburb to cater for an expected population of 6000.

It’s a prime time to get into Canberra’s northern-most suburb with Margaret Hendry Primary School opening next year.

“The area is set to have some really good amenity,” said Mr Dietz.

The land auction comes after the ACT was the third-worst performing state or territory in the Housing Industry Associations September Scorecard Report.

The report found detached housing approvals in Canberra were down 21.5 per cent on the decade average. HIA ACT chief executive director Greg Weller slammed the report as “disappointing”.

Mr Dietz said the next major single-dwelling residential release would be in Whitlam where 600 blocks will hit the market.

It will be the first blocks on offer for the suburb which was gazetted in 2017 and named after former prime minister Gough Whitlam.

A further 18 Mr Fluffy blocks are also set to be auctioned on December 5 at the Hellenic Club in Woden.

The Taylor blocks will be auctioned in the Fitzroy Pavilion at Exhibition Park on Wednesday and Thursday. The listing agent is Independent Property Group.