Bumper auction day in capital

IT WAS a bumper day for home buyers across the territory on Saturday as almost two thirds of properties auctioned were sold. Many agents reported strong sales under the hammer and there were a couple of close negotiations in play late Saturday afternoon.

A new record was set for Pearce on Saturday morning when number 22 Sheehan Street sold for $2.3 million.

The five-bedroom home is on a huge 2786-square-metre block backing onto Mount Taylor.

It has an in-ground heated swimming pool, a 2500-bottle climate controlled wine cellar, and Carrara marble finishes.

A big crowd gathered in front of the Terry Ring and Associates designed home to watch three time Australasian Auctioneering Championship winner Mark Sumich sell the property.

Mr Sumich travelled from New Zealand to Canberra this week to conduct an auctioneering training session with local agents.

He accepted a strong opening bid on the home of $1.3 million.

Three of the registered bidders fought for the house until it reached $1.7 million when a fourth bidder entered the fray.

It became a spirited contest between two parties as the home cleared the $2 million mark and rose to $2.2 million.

After instructions were sought from the vendors the highest bidders increased their offer to $2.3 million.

No more bids were placed and Mr Sumich declared the home sold, to the applause of the crowd.

Sales agent for the property, Jonathan Charles of Independent Property Group Woden, said while they had expected to break the record for Pearce they did not anticipate that it would be by a massive $800,000.

Mr Sumich, who is from New Zealand-based Sumich Estate Agents and Auctioneers, said it had been the perfect conditions for a successful auction and the front yard was a natural amphitheatre.

The second-highest sale of the day was a three-bedroom townhouse in the Yarralumla Shores complex.

The home at 14/28 Black Street sold under the hammer for $1,315,000 through Peter Blackshaw Woden and Weston Creek agent Brett Hayman.

Mr Hayman said the lure of the beautifully presented home had been its closeness to Lake Burley Griffin and the fact that it backed onto parkland.

He said the two registered bidders had both really wanted the home, which helped it sell above the reserve price.

Mr Hayman said the high auction clearance rates pointed to a strong market in the ACT. And in Narrabundah strong bidding for 43 Lumeah Street had the home sell for $635,000 through LJ Hooker Manuka.

Principal Stephen Thompson said he had noticed an increase in genuine buyers recently not just in the number of people going to open inspections. Three registered bidders fighting it out for the Narrabundah home was a positive sign for the market, he said.