Canberra auctions: Houses sell for under $1 million in Wanniassa, Ngunnawal and McKellar

Homes in Wanniassa, Ngunnawal and McKellar were among a handful of houses that sold for less than the current median house value, either during auction or soon after.

There were 152 scheduled auctions in Canberra for the week to Sunday. Of the 94 results collected by CoreLogic so far, 31 sold prior to auction, 25 sold under the hammer and 3 sold after.

Ten homes were withdrawn from auction and 25 properties passed in. A preliminary auction clearance rate of 62.8 per cent was recorded.

Across the combined capitals, 2393 homes went to auction making it the busiest week of auctions since mid-June.

A newly renovated three-bedroom house in Wanniassa went to auction on Saturday after about four weeks on the market.

The home at 18 Cuthbert Circuit garnered strong interest leading up to auction day, where two buyers registered to bid.

The property passed in before negotiations began and a sale price of $835,000 was achieved.

The home's two bathrooms were renovated this year, while the modern kitchen was completed in 2019.

Sitting on a 759-square-metre block, the property also featured an alfresco entertaining area, established gardens and two garden sheds.

A young couple were the successful buyers at the auction of 18 Guginya Crescent, Ngunnawal on Saturday.

The first home buyers were the only bidders registered for the auction, which ended with a $680,000 bid to seller's delight.

The three-bedroom, one-bathroom house sits at the end of a small cul-de-sac on a 351-square-metre block.

A claw-foot bath, ceiling roses and bullnose roofing were among the home's stand-out features.

Selling agent Phil Rooke of Luton Properties Belconnen said there was another buyer who was very eager to bid, however was unable to due to lending restrictions imposed by their bank.

"We've heard that a couple of times in the last couple of weeks, where buyers were approved to a certain level but now the banks are reassessing their borrowing capacity," he said.

Mr Rooke said there were still plenty of buyers in the market leading up to Christmas.

"If the vendor is realistic and the buyers are genuine, [homes are] still being sold," he said.

A McKellar house with three bedrooms and two bathrooms was another property to sell under the $1 million mark on Saturday.

Situated on a 826-square-metre block, 6 Slessor Crescent, McKellar sold for $935,000.

The brick home had been freshly painted inside and out, while a number of other updates were completed prior to its listing.

"Updates include a new bathroom, powder room, and laundry, hardwood 'blackbutt' floating timber flooring in the opened living area, new fences, a new reverse cycle split system air conditioner and instant gas hot water," the real estate listing stated.

We've made it a whole lot easier for you to have your say. Our new comment platform requires only one log-in to access articles and to join the discussion on The Canberra Times website. Find out how to register so you can enjoy civil, friendly and engaging discussions. See our moderation policy here.