Land sale: Last Mr Fluffy auction for 2018
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Land sale: Last Mr Fluffy auction for 2018

Five more former Mr Fluffy blocks have been sold in the latest and last mass auction for 2018.

A total of 18 blocks, ranging in size from 632 square metres to 1846 square meters, went under the hammer on Wednesday.

The ACT government has bought back more than $670 million worth of former Mr Fluffy asbestos homes across Canberra.

The ACT government has bought back more than $670 million worth of former Mr Fluffy asbestos homes across Canberra.Credit:Rohan Thomson

The blocks were scattered across Canberra's Tuggeranong, Inner South and Woden regions.

An 853-square metre block at 98 Rivett Street, Hackett sold for $790,000, the highest sale of the day. Three blocks in Wanniassa sold. A 685-metre block in the suburb was the lowest sale of the day at $505,000.

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The largest block on offer, a 1846-square metre block at 13 Bathurst Place, Macquarie, was passed in. Its reserve price was $900,000.

The smallest block at 5 Pendred Street in Pearce had a reserve price of $650,000 but was passed in with no bids.

One of the blocks sold for $87,000 over the reserve price.

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Colliers International director of residential land marketing Josh Reid said the clearance rate was in line with previous auctions of remediated blocks.

"Attendance was high with some spirited bidding," Mr Reid said.

"Demand for these blocks reflects the fact there are very limited opportunities to purchase land and build a new home in our established suburbs."

The auction is part of the ACT government's loose-fill asbestos insulation eradication scheme.

All but one of the blocks on offer was zoned RZ1, which allows for low-rise and low-density residential development. Multi-unit housing is permitted. A 834-square-metre block in Mawson was the only block zoned RZ2, which allows properties to be redeveloped for two homes. The block was passed in with no bids.

Four blocks were passed in to the highest bidder and nine blocks were passed in with no bids and will be available for sale directly over the counter.

"Based on previous releases, we expect strong interest in the remaining stock," Mr Reid said.

"In addition to the blocks passed in today, there are around 70 blocks left for sale over the counter."

He said 260 former Mr Fluffy blocks had sold in 2018.

The Fluffy sales were the subject of some controversy earlier this year, after two families who bought a former Mr Fluffy home in Griffith were hit with thousands of dollars of unexpected fees after remnants of asbestos were uncovered on-site.

Bonded asbestos was also uncovered on a block in Macquarie that went under the hammer in the last land sale after flooding in the area.

Han Nguyen reports on property for The Canberra Times. She joined the Times in 2017 after working as a breaking news reporter at The Sydney Morning Herald.

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