The first full weekend of auctions for 2024 returned strong results, including a $3 million sale in Deakin.
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Canberra had the highest clearance rate of the all capital cities, at 80 per cent, CoreLogic's auction data has revealed.
It was a stark contrast to the auction results seen the same period last year, when just 60 per cent of Canberra auctions were successful.
The preliminary data showed 132 Canberra homes went to auction in the week to Sunday, compared to 140 the same week last year.
A total 1671 homes went to auction across the capital cities, marking the second busiest start to an auction season on record.
![This Paul Tilse-designed home in Deakin sold for $3 million. Picture supplied This Paul Tilse-designed home in Deakin sold for $3 million. Picture supplied](/images/transform/v1/crop/frm/146508744/b84066f5-f4ad-4872-93f9-d424ac2a8ba4.jpeg/r0_83_1620_997_w1200_h678_fmax.jpg)
CoreLogic economist Kaytlin Ezzy said auction activity had started the year "on a strong footing".
"Potentially, the news of low inflation and the possibility of early rate cuts is already boosting sentiment," she said.
"The next few weeks should provide further guidance on whether this strong result is simply some early-year exuberance or a trend that can persist."
Canberra's top auction result of the weekend was the $3 million sale of 3 Rawson Street, Deakin.
Four active bidders competed for the four-bedroom home, which was designed and previously owned by local architect Paul Tilse.
Selling agent Mario Sanfrancesco of Blackshaw Manuka also sold the property for Mr Tilse in 2013 and said it was like "deja vu a decade later" given the high level of buyer inquiries the second time around.
He said the seller was "over the moon" with the $3 million sale price at Saturday's auction.
Mr Sanfrancesco said the result proved there was high demand for established, completed homes.
![The Deakin home was described as a single-level modernist-style home. Picture supplied The Deakin home was described as a single-level modernist-style home. Picture supplied](/images/transform/v1/crop/frm/146508744/ade29ab7-79d0-414c-bd12-97c93b17ba16.jpg/r0_83_1620_997_w1200_h678_fmax.jpg)
"Properties that are beautifully presented, that there's little to no work to be done to improve on the property are what's generating strong interest and good demand in the current real estate environment," he said.
Ray White Canberra hosted an auction event at Hyatt Hotel Canberra on Saturday where 57 homes went up for sale.
The top result was a property in Wallaroo, just over the ACT border north-west of Canberra, that sold for $2.87 million.
![A historic Wallaroo property sold for $2.87 million at a special auction event. Picture supplied A historic Wallaroo property sold for $2.87 million at a special auction event. Picture supplied](/images/transform/v1/crop/frm/146508744/ca1e2bd9-972e-43f8-ae94-f2ab6eaceaa8.jpg/r0_83_1621_994_w1200_h678_fmax.jpg)
The historic rural property at 633 Wallaroo Road dates back to 1882 when early settlers David and Agnes Rule owned the land.
Two original slab cottages where the Rules raised their eight children still stand on the property and were restored by the most recent owners, Ray White Canberra's Mark Johnstone said.