Suburb record in Woden Valley despite low clearance rate at weekend auctions

Canberra’s strong start to Saturday auctions this year was marred over the weekend as the clearance rate dropped below 60 per cent.

Saturday auctions in the territory officially kicked into full gear in the first weekend of February. The first two big Saturdays of the year both recorded clearance rates of 65 per cent, however this declined to 57 per cent on Saturday.

Despite the drop, Farrer set a new suburb record with the sale of 57 Hawkesbury Crescent for $1.49 million.

The four-bedroom home beat the previous suburb record at 63 Hawkesbury Crescent by $88,000. Farrer’s median price is $800,000.

“Hawkesbury is one of the most premium addresses in Farrer and probably in the whole Woden Valley,” says selling agent Scott Crossman of One Agency.

“The feedback from most people who inspected the property was that it’s a lovely home with a good feel to it. Paired with its location, the sale really looked after itself from there.”

Backing onto a reserve, the four-bedroom home is situated on a 1300-square-metre block. It’s been completely renovated and extended to cater for all types of families.

The home centres around a solar-heated, salt water pool that is immaculately kept. Large double-glazed windows and doors are dotted around the home allowing for natural light-filled rooms.

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“I think anyone that wants to get into a suburb, and has the opportunity to do so in their own budget, are looking for a location and a street presence that provides them with privacy,” says Crossman.

Auction results have been robust at the beginning of the year with a number of homes selling well above both the reserve price and suburb median.

While the auction market slowed dramatically over January, Domain data shows there was a strong clearance rate of 79 per cent in the first month of the year.

Crossman said the drop in the clearance rate reflects a market that knows what it wants.

“Buyers are pretty indignant on what they want and at the moment they want something that is finished and spacious, and they’ll pay the price,” he adds.

“People live lifestyles that are busy and frantic on the weekend, they don’t want to be caught in a position where they have to renovate.”