Summer auction event draws a crowd despite January slowdown

The perception of Canberra’s property market shutting down over January has been crushed with more than 100 registered bidders attending an auction event held by Ray White Canberra.

On Wednesday evening, the agency auctioned 29 properties at the Belconnen Arts Centre, with 22 selling under the hammer, representing a clearance rate of 76 per cent.

Ray White Canberra director Scott Jackson says the agency decided to hold the event after fantastic results from agents who worked during January 2017.

“It’s the old supply and demand rule. There are a lot of people in Canberra looking to buy but there are just no houses on the market. Our vendors’ properties were pushed to the forefront when there were very little homes listed.”

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Out of the 29 homes, there was only one without a registered bidder. Five homes had more than seven registered bidders.

In the weeks leading up to the event, there were more than 1000 inspections of the auctioned homes.

“Everybody says the Canberra property market shuts down over January but that’s simply not true,” Jackson says.

Homes from across the ACT were showcased on the night with prices ranging from $430,000 to $1,452,500. A highlight was 15 Hakea Crescent in O’Connor.

The impeccable four-bedroom home was the highest selling at the event.

Built in 2009, the inner-north home was architecturally designed to optimise space and an abundance of natural light.

This is the first time Ray White Canberra has hosted a summer sale auction event and there are already plans to continue it next year and beyond.