A family home in Narrabundah attracted five registered bidders at auction, reflecting strong demand in the Canberra market. The property at 12 Hughes Street sold under the hammer for $1.2 million, with bidding opening at $1.1 million.
Agent Sarah Thompson from Thompson Real Estate said the number of bidders was a sign of the current market conditions. “Well-presented homes in good locations are drawing multiple buyers,” she said. “This home was move-in ready and didn’t need any major work.”
The auction came down to a young family and a buyers agent, who competed in $5000 increments. Thompson noted that buyers agents are becoming more common as frustrated buyers seek an edge. “With limited stock, buyers are turning to agents to help secure a property,” she said.
Auctioneer Mark Davis from Davis Auctions said the room was packed with buyers, neighbours, and onlookers. “The buyers agent started strong, but once the family took over, most other bidders dropped out,” he said. “Buyers agents help remove emotion from the process, but ultimately it was the family who prevailed.”
