An auction sale of Canberra leases at Albert Hall turned out "high premiums" on this day in 1959.
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Successful lessees bid a total £94,015 for 95 residential blocks in Yarralumla and Dickson, compared with a total reserve value of £50,170.
"The keenest bidding was for blocks at Yarralumla, where an average premium of £741 was paid for 11 blocks carrying building covenants ranging from £5500 to £7000," a story on the front page of The Canberra Times said.
"The highest premium of the auction, £1575, was realised in this suburb."
The remaining 84 blocks in Deakin had an average premium of £424. The highest premium paid in the suburb was £1210, which far outdid the reserve of £650.
"Estate agents, Pead and Kennedy, were the biggest buyers with 16 blocks," the story said.
"The auctioneers, Woodgers and Calthorpe Ltd., reported a 'good sale with no blocks passed in'."
Another auction was set to be held the following day with residential sites in several suburbs including Ainslie, Braddon, and Campbell up for grabs.
