Sell with Confidence
Read More

The Auction Event wrap up

By Ben Faulks

Ray White Belconnen led the charge at the recent Canberra Auction Event, which saw 27 Canberra properties go up for Auction on the one night.

In what may be a sign of the relative strength of the Belconnen & Gungahlin marketplaces, the Ray White Belconnen team’s auction clearance rate of 60% was well above the current Canberra average (ranging between 30-40%), with 2 of their 5 properties selling on the night, and another 1 prior. The properties which sold were:

  • 3 Jandamarra Street, Ngunnawal – $451,000
  • 26 Kangaroo Close, Nicholls – $440,000
  • 10 Ariah Place, Palmerston (sold prior) – $680,000

26 Kangaroo Close was the most hotly contested Auction, with 4 registered bidders pushing the result $10,000 above the owner’s reserve. 10 Ariah Place attracted 21 inspections in 2 weeks on the market, and sold to a bullish bidder after being listed for only 13 days.

The other two properties (4 Horsley Crescent, Melba & 63 Nardern Street, Crace) are still in negotiations with interested buyers and at the time of writing are expected to go under offer within the next 48 hours.

“These results are consistent with what we have been seeing over the past 12 months, where over 70% of properties we have taken to Auction have sold within 60 days of hitting the market” said Ben Faulks, Principal of Ray White Belconnen. “Whilst the Canberra market remains tough, Auction still represents a good opportunity for sellers to achieve a result in a definite period of time.

The Auction Event also saw the Canberra debut of Ray White NSW Chief Auctioneer Sam Kelso, who maintained a great pace and energy for the duration of the call.

Of the 27 total properties taken to Auction, 8 had sold by close of the Event, with a number of others still in negotiations.

The team at Ray White Belconnen is now preparing for their final in room Auctions of 2012, with 5 properties to be Auctioned at The Grace Place, Belconnen Town Centre at 6pm on Thursday, 29th November.

For further information contact Ben Faulks on 0432 028 645

Up to Date

Latest News