A competitive auction in Watson was among Canberra’s first springtime sales on Saturday.
The season is traditionally real estate’s busiest and comes off the back of an extraordinary winter market marked by strong sales and high clearance rates.
A three-bedroom house at 67 Piddington Street in Watson drew a large crowd, including eight registered bidders, on the sunny Saturday morning.
The house was on the market for the first time in more than 50 years and sits on more than 1000 square metres of land backing nature reserve.
An opening bid of $820,000 blossomed as lively bidding pushed the price past $900,000.
An investor snapped up the property for $921,000.
The sale contributed to a Canberra-wide clearance rate of 66 per cent off 41 reported auctions, according to Domain Group data.
Selling agent Andrew Grenfell of LJ Hooker Dickson said prospective buyers were drawn to the block’s location. Related: Canberra’s spring property boom beginsRelated: Willemsen Kambah home sells at auctionRelated: Bruce townhouse lures buyers to auction
“It’s just a good, flat, big block for people who want to renovate or rebuild – there are a lot of opportunities there for people,” he said.
“Not a lot of houses backing the reserve come up for sale. This [belonged to] the original owners from the 1960s.”
Mr Grenfell said he’d noticed more inquiries coming through and more people inspecting homes as the weather warmed up.
“The market is definitely picking up,” he said.
“The sun has come out, the flowers are blooming. It’s definitely a good time for people to revamp their interest in property.”
Inside the Watson house. Photo: Supplied
Mr Grenfell said there were limited houses in Watson and the surrounding area for sale.
“There are a lot of people looking for renovators, things they can do up themselves and put their stamp on,” he said.
“There are more young families who are upsizing and are coming up to that time in their life where they’re looking for somewhere to stay long term.”
For a full list of Canberra’s Saturday auction results, click here.