Hackett home sells for $2 million, breaking suburb record

Scores of suburbs across Canberra have reached record-breaking sale prices, with 20 now boasting a new record.

The sale of 8 Taylor Place, Hackett, for $2 million last weekend secured it a spot in that list, easily surpassing the previous record of $1.6 million.

Blackshaw Property Group managing director Andrew Chamberlain said the price was beyond the owner's expectations but there had been strong interest throughout the campaign.

There were nine registered bidders for the five-bedroom, three-bathroom home.

Mr Chamberlain said properties were generally on the market for shorter periods at the moment, as buyer demand wasn't being met by those selling up.

The auction clearance rate in Canberra last week was 87 per cent across 112 auctions.

A Turner home, at 64 Boldrewood Street, was hoped to set a new suburb record, but passed in over the weekend.

A mid-week sale of a Weetangera home also broke the record for that suburb and broader Belconnen last week, when it sold for $2.145 million.

Independent Property Group principle Paul Corazza said there were 11 bidders registered but just five took part on the day.

The property took four months to prepare and was on the market for four weeks.

Mr Corazza said a spike in the number of people registering to bid at auctions was likely the result of auctions themselves becoming more popular, with almost 60 per cent of properties now going under the hammer.

Partly driving that change that was the rapidly changing market spurred by huge buyer demand, low stock and record low interest rates, he said, making it difficult for agents to accurately price a home.

"The last four auctions I've done, I've been surprised by the price," Mr Corazza said.

"Buyers are now realising if they've got any chance, they've got to register.

"Two years ago, if you didn't like the auction process, there were other options available to you, but now there isn't as much."

Mr Corazza said he was being inundated with requests for properties to be sold before auction, as hopeful home owners try to edge into the competitive market.

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