Neighbours gather to watch 38 Lockyer Street, Griffith, ACT sell for $2.62 million in Canberra Saturday auctions

More than 100 people gathered to watch the auction of the three-bedroom house at 38 Lockyer Street.

Despite being uninhabitable in its current state, the home offered buyers a chance to secure a slice of history on a 1114-square-metre parcel of land.

Fourteen bidders registered for the auction, some bidding in person and at least one interstate buyer participating over the phone. In the final minutes, bidding went up in $5000 increments until the hammer fell at $2.62 million.

Built in 1938 the double-brick house includes original features such as solid timber floors, a brick fireplace and timber sash windows.

There is even an original, two-way milk cupboard, which selling agent Christine Shaw of Blackshaw Manuka said was a history lesson for many buyers.

"It appeared to almost be an education point for anybody under 40 [years old] who came to see the house," she said.

Homes built around the early- to mid-1900s often featured a small two-way door allowing the milko to drop off fresh milk to residents each morning, Ms Shaw explained.

"So you'd leave the coins in there, the milko would open it from the outside, put the milk in, take your coins and then you'd open the inside and grab your milk," she said.

It was the first time the home had been listed for sale in 30 years. CoreLogic records showed the previous owner purchased the property in 1992 for $265,000.

"When she bought it in '92, it would have been very much original," Ms Shaw said.

"All the original skirting boards, architraves and cornices were in situ.

"To have a 1938 treasure at No.38 was a good synergy of numbers."

The 92-square-metre house includes one bathroom and a separate toilet, plus a single-car garage and a standalone writer's studio in the backyard.

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As the property is not located in the heritage precinct, the house could be demolished and rebuilt, extended or renovated.

Most of the buyers who inquired were looking at the option of a knock down/rebuild project. While future plans are unknown, Ms Shaw said the new owners appreciated the beautiful facades of the old homes in the Griffith area.

The listing also stated a rental appraisal of $750 to $800 per week, subject to repair work in the kitchen and the third bedroom to make the home habitable.

Sunday concluded the nation's second busiest auction week of the year so far. Across the combined capital cities, 3062 homes went to auction, compared to 2710 this time last year.

In Canberra, 150 auctions were recorded, with a 76.2 per cent preliminary clearance rate.

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