Canberra houses sell for under $1 million as spring auction market returns varied results for sellers

There were 163 homes taken to auction for the week to Sunday, up from 83 homes last week and 140 during the same period last year, CoreLogic data shows.

Canberra's preliminary clearance rate for the week was 59.8 per cent.

With buyers firmly in the driver's seat, there are opportunities to secure a Canberra house for less than $1 million under the hammer or in some cases, prior to auction.

Here are three houses that recently sold for less than Canberra's current median house value of $1,009,575.

After a relatively quiet campaign, a four-bedroom Chisholm home on a 770-square-metre block returned a solid result for the sellers on Saturday.

Two bidders registered for the auction of 47 Enid Lorimer Circuit, which took just a few minutes to sell for $945,000.

The sellers had renovated the home over their seven-year ownership and were relocating to Victoria.

"We have now made the decision to take the next step in our life and buy some acreage closer to the family in a small coastal village in Gippsland Lakes, Victoria, and also to buy a boat and get into a bit of fishing," they said in the property's listing.

Selling agent Jonny Warren of Jonny Warren Properties said about 17 groups inspected the home and initial feedback was in the low-$900,000 range.

"The buyers, they loved the house as well, so everyone was happy," he said.

Mr Warren said he had noticed a big change in the Canberra market this spring.

"We're saying it's like a lottery out there at the moment - some houses are selling and then others that we think would sell, aren't," he said.

In Palmerston, two bidders registered for the auction of 5 Narryer Close on Saturday. Located on a 988-square-metre block, the three-bedroom house sold for $890,000.

Selling agent Mark Johnstone of Ray White Canberra said there were "micro markets" emerging across Canberra with varying auction results.

"Some of the higher priced properties are still going very, very well," he said.

Mr Johnstone said he is seeing the impacts of rate rises on first and second home buyers.

"Every time there's an interest rate rise their borrowing capacity drops by maybe $50,000," he said.

A three-bedroom house in Throsby didn't make it to auction on Saturday as planned, due to an enticing pre-auction offer.

The home at 14 Banggu Street sold for $860,000 about two weeks after it was listed for sale.

Located on a small, 250-square-metre block, the 2021-built home sold to an investor.

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Selling agent Yubi Baral of One Agency Gungahlin said some sellers are now more open to accepting offers prior to auction.

"Due to low auction clearance rates, people are hesitant whether to go for an auction," he said.

"And just because the market has recently changed, if they are hoping for something and they achieve it before auction, they might consider [an offer]."

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