Canberra Auction Clearance Rate Sits at 71%


According to out of 100 auctions scheduled across Canberra only 71 have been successful last weekend. After a very strong start in September / October period the market showed some signs of reduced momentum, potentially due to the first wave of buyers having already secured their properties and the current pool of buyers exercising more caution just before Christmas and New Year holiday period.


Block Real Estate agents have attended the auction at 19 Simpson Street Watson run by Holly Komarowski from Home by Holly on Wednesday the 8th of November. A 5 bedroom, 3 bathroom architecturally designed and builder’s own home presented magnificently in a well established and conveniently positioned suburb of Watson. The auction was well attended and drew a crowd of about 50 local residents, onlookers and interested parties. Home presentation, marketing and auction organisation was of very high standard as is usual for Home by Holly.


Jason Scott was the auctioneer and kicked off the proceedings in a well polished, precise and energetic style. Highly impressive. The opening test bid of $800K was followed by a strong starting bid of $1.1M by a genuinely interested bidder. Another bidder entered the fray with a bid of $1.2M, which was counter-acted by the second bidder at $1.3M. At the point of the proceedings bidding stalled and the auctioneer paused the auction to adjourn and confer with the home owner. After return and protracted discussions with the two interested parties Jason placed a vendor’s bid of $1.5M.


Failing to achieve any further bids the property was unfortunately passed in, negotiations between the agent and the highest bidder continuing for a while after the auction.


This was a good reminder that even at this price point buyers are looking for overall value, not just in relation to the local area but the entire ACT as well. $1.5m+ price range opens up a lot of options for higher end properties across Canberra and even some potential buys in the blue-chip areas of inner North and Inner South.