A trio of homes in Dunlop, in the Belconnen district, sold under the hammer on Saturday for less than Canberra's median house value, which is now more than $1.07 million.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Five registered bidders attended the auction of 7 Gye Place, a three-bedroom home on a 1177-square-metre, battle-axe block. It also features a renovated kitchen, covered deck, double garage and carport.
Selling agent Tim McInnes of Timothy Road said the size of the block and a sense of privacy from neighbours made it a stand out home.
"We had families that were looking at extending the house, we had some first home buyers and we had one downsizer," he said.
Ultimately it was a local family looking to upsize who secured the home for $900,000.
Just a few streets away, 49 Evelyn Owen Crescent went to auction with one bidder. The three-bedroom, one-bathroom home sold to downsizers for $740,000.
The single-level home, located on a 428-square-metre parcel of land, also has covered parking for three cars.
Michael Braddon of Blackshaw Gungahlin said the home includes a generous grassed backyard for the block size, as well as an undercover entertaining area.
"The backyard and the parking were the main things and the inside of the property was neat and tidy and you didn't have to spend a cent," he said.
Another single-bidder auction took place at 70 Gouldsmith Street, which sold under the hammer for $950,000.
The home spans 167-square-metres of living space on a 500-square-metre block and features four bedrooms, two bathrooms and parking for four cars.
The property last changed hands in 2020 for $640,000
MORE PROPERTY NEWS:
Matt Sebbens of Blackshaw Belconnen said Dunlop is a popular suburb for families.
"We have a few first home buyers, but when you start getting towards that million-dollar mark it does tend to be those coming out of something a bit smaller and looking for that family home next," he said.
The median house price in Dunlop was $786,750 in February, according to CoreLogic, up from $647,500 the year prior.
The Dunlop properties were among 127 Canberra homes that went auction over the week to Sunday, compared with 84 auctions last week.
CoreLogic's preliminary results show 76 per cent of auctions were successful.
Across the capitals, 2847 homes were taken to auction, up 38.3 per cent compared to the previous week.
While some agents expect to see a rise in new listings and buyer activity once the federal election is over, others believe the Canberra property market is normalising.
"We've had a period, obviously, where there's been phenomenal clearance rates well above Canberra averages for a period of time and I think we're just seeing some normalisation," Mr Sebbens said.
"I don't expect a flick of a switch again after the election. I think we'll see a continuation of listing numbers, I think that'll remain pretty consistent, and I think we just need to get used to these lower numbers than we've experienced in the last 12 months at both open homes and auctions."
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:
- Bookmark canberratimes.com.au
- Download our app
- Make sure you are signed up for our breaking and regular headlines newsletters
- Follow us on Twitter
- Follow us on Instagram