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Belconnen market starts 2016 with a bang! Ray White Belconnen Auction results

By Ben Faulks

Despite the recent decision to leave interest rates on hold from the Reserve Bank of Australia (RBA), based on concerns that the economic climate is cooling, the Belconnen & Gungahlin demonstrated their resilience at the Ray White Belconnen Auction’s.

In the shadows of a cooling market in the major capital cities, as reported by Dr Andrew Wilson from domain earlier this week, 7/11 properties selling under the hammer for a clearance rate of 64%, indicating that the signs are positive that 2016 will be a good one for homeowners in the nations capital.

The highlight of the evening was 9 Parer Street, Scullin, were just two bidders were required to push the house some $30,000 above reserve at $492,000. Bidding was ferocious, as both buyers fought to secure the 140m2 3 bedroom home. Despite no ensuite, the property was highly prized due to the extra living space, and having only one neighbour as it sides parkland.

However the liveliest Auction of the week was reserved for 11 Plummer Street, Weetangera, where Weetangera specialist real estate agent Treston Bamber secured an outstanding price of $951,000. Off the back of a similarly impressive result in the lead-up to Christmas at 24 Plummer Street, Treston generated 8 registered bidders, and both buyer and seller were delighted with the end result.

Further strength was evident in the Belconnen 3 bedroom home market, with Auction sales including 3 Rose Place, Flynn which fetched $416,000 and 74 Enright Street, Florey which went for $485,000. Both properties exceeded vendor expectations and sold under the hammer.

Other properties to sell were townhouses at 1/27 Crisp Cct, Bruce which sold to 1 of 5 registered bidders, and 31/3 Howitt Street, Kingston which also exceeded intitial expectations and freed up the owner to move forward with their new purchase in Hawker.

The top end of the Gungahlin market also demonstrated it’s momentum, with Jake Battenally & Lisa Van Niekerk securing $675,000 for 36 Winchester Street in Casey, a 4 bedroom home where the garage had been modified to incorporate a home office.

For a full wrap-up of Auction results, contact belconnen.act@raywhite.com.


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