Michael Inman August 05, 2012
Bidding for 13 Scarborough Street stalled after the opening bid of $1.7 million but negotiations ensured the property was sold for $1.88 million. Photo: Jeffrey Chan
THE AROMA of freshly cooked pizzas heralded the sale of 13 Scarborough Street, Red Hill yesterday.
The owners celebrated the auction of the six-bedroom property by providing snacks courtesy of the outdoor pizza oven.
The expansive property boasts four bathrooms and four parking spaces and is set in a premier neighbourhood.
McGrath Estate Agents Gungahlin agent Nick Slater said the property sold by negotiation for $1.88 million.
Mr Slater said about 50 people attended the sale, including five registered bidders, prospective buyers and neighbours.
But the day almost went sour when the auction stalled after one bid at $1.7 million, short of the reserve.
Mr Slater said the sale figure was reached after some swift negotiations.
He said there was still negativity in the market.
''The big challenge at the moment is to get over the market jitters,'' Mr Slater said.
''If you look at the fundamentals of the market, it's a great time to buy.
''There's great properties on offer and rates are stable.''
He said agents were bullish about the conditions.
''Buyers are still talking about doom and gloom in Europe when the local market is in a great position.
''People in the know are buying property at the moment.''
Half the 18 properties on offer sold yesterday, with several more under negotiation.
Luton sold three of four properties under the hammer.
Agent Robert Westropp-Evans said spring - a traditionally busy time in the Canberra market - had come early.
Mr Westropp-Evans said Luton was averaging in excess 70 per cent clearance under the hammer for the past month.
LJ Hooker Manuka director Stephen Thompson said properties between $800,000 to $1.2 million were popular targets among buyers.
''There's a lot of families that are upgrading that may live further out are selling their homes for $600,000,'' Mr Thompson said. ''There's a pattern, people come to town and buy a modest property then they realise Canberra's a great place to live.''
26 Booroondara Street, Reid - sold for an undisclosed figure
13 Scott Street, Narrabundah - sold for $665,000
3/7 Watling Place, Weston - sold for $391,000
6/36 Gosse Street, Kingston - passed in
63 Callaway Crescent, Gordon - passed in
8 John Young Crescent, Greenway – sold for $550,00
43 Warramoo Crescent, Narrabundah - sold for $520,000
5/5 Kintore Crescent, Yarralumla - passed in
13 Westgarth Street, O’Connor - sold for $750,000
58 Macalister Crescent, Curtin - passed in
72 Werriwa Crescent, Isabella Plains - unavailable
2 Rivers Street, Weston - sold for $800,000
13 Wattle Street, O’Connor - passed in
17 Miller Street, O’Connor - passed in
13 Scarborough Street, Red Hill – sold for $1.88 million
41 Hayes Street, Queanbeyan - passed in
27 Miller Street, O’Connor - sold for $694,000
19 Westgarth Street, O’Connor - passed in