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100% AUCTION CLEARANCE RATE: Gavel falls fast as Canberra’s largest agency starts new financial year with a bang!

By Ben Faulks

Ray White Belconnen has started the new financial year with a bang, selling 6/6 properties under the hammer at the Belconnen Arts Centre on Thursday 7th July.

With two more Auctions scheduled for Saturday 9th July also sold prior to Auction, the team has gone 8/8 so far in the new financial year, with three more properties set to go under the hammer this Saturday.

Over 20 registered bidders crammed into the Belconnen Arts Centre, and pushed 5 properties above reserve price, with one being negotiated to an acceptable level on the Auction floor.

“Inspection numbers stayed firm in the 3 weeks leading up to Auction for most of our properties, despite the Federal election falling mid-campaign” said Ray White Belconnen Sales Director Troy Reddick “Buyers have retained the confidence to bid for quality property in a good location, thanks to the affordability provided by ongoing record low interest rates”

It was a bitter sweet symphony of bids for the owner of 87 Banambila Street, Aranda which achieved the highest price on the night. The four bedroom home was offered to the market with significant damage from white ants, and sold for $720,000 to a local owner looking to consolidate the 759m2 block.

“The sale of Banambila Street was a great indicator for me of the underlying strength of the Belconnen market” said Marketing agent and Auctioneer Scott Jackson “to have what is essentially a knock down rebuild sell for such a high price is a good leading indicator of the confidence we are witnessing in the market at present”.

Also selling were two properties on Bennelong Street, Macquarie:

  • 34 Bennelong Street which is a basic 3 bedroom ex-govvie on a 854m2 corner block sold for $546,000
  • 63 Bennelong which is an updated 3 bedroom home opposite the pre-school on a 735m2 block sold for $555,500

“Buyer have cottoned on to the fact that Macquarie is such a hidden gem” said Macquarie specialist agent Phyllis Tidmarsh “The fact that it is so central to all of Belconnen’s services including the Jamison centre and has great schools, together with brilliant access to the city is finally gaining the recognition that it deserves.”

The level of competition for these properties is starting to alter buyer behaviour as well.

“We are starting to see buyers looking to work with our agency to try and secure homes off-market” said Managing Director Ben Faulks, “The emergence of this trend was a key strategic motivator in our recent merger with Elders Belconnen – we wanted to be able to provide more unique service opportunities to our clients, and cater to the evolving needs of the marketplace.”

The other properties sold at Auction this week were:

  • 36 Buckingham Street, AMAROO – Sold by Treston Bamber for $560,000
  • 134 Ida West Street, BONNER – Sold by Sebastian Gutierez for $610,000
  • 8 Dale Circuit, KAMBAH – Sold by Sebastian Gutierez for $450,000
  • 21 Vickers Street, FLYNN- Sold by Mick Barlow prior to Auction for $628,000
  • 50 Galiblal Street, WARAMANGA- Sold by Mark Johnstone prior to Auction for $645,000

The final three properties going to Auction with the Ray White team this week are:

  • 6/18 Mugglestone Place, BRUCE – marketed by Andrew Lonsdale & Troy Reddick
  • 21 Love Street, FLYNN – marketed by Mark Johnstone
  • 2 Crace Street, WEETANGERA – marketed by Treston Bamber
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