Land auctions are beginning for 124 blocks in the new Lawson suburb in Belconnen, highlighting the growth in demand for lots in the area and suburban expansion in the near future – which could be interesting for anyone considering Belconnen real estate.
The blocks range from 250 square metres all the way up to 1,540 square metres, and will have reserve prices ranging from $205,000 to $558,000. The average size is 570 square metres, with an average reserve price of $335,000.
The auctions are to be held at Exhibition Park on December 3 and 4, with those interested in participating encouraged to register online.
David Dawes, the chief executive of the Land Development Agency, said the decision to announce the auctions early was to allow people to organise their finances prior to the proceedings.
"As blocks won't be settled until 2015, we have also decided to reduce the deposit needed to secure blocks at Lawson to 5 per cent so as not to tie up purchasers funds unnecessarily," said Mr Dawes in a November 1 statement.
"There is no doubt that many people have been eagerly anticipating the launch of the first land at Lawson for quite some time, particularly given its proximity to the University of Canberra, Calvary Hospital, GIO Canberra Stadium, Belconnen Town Centre, Lake Ginninderra and Civic."