Skip to content Skip to main navigation

Property

Be the change

Another wonder – another Dickson auction

By Paul Costigan - 17 April 2017 21

Costigan-Dickson0

House sales stories are all over the media. So here’s another with some local flavour – being very much linked to my former post on a Dickson Auction earlier this year.

It was 1pm Wednesday 12th April when locals fronted up to an auction for another very standard 1960s 3-bedroom house that had not been renovated. The décor had been played with – but nothing structural.

The décor was such that it would not appeal to many contemporary buyers.

Whereas the former was presented mostly white throughout, this new one had its own ‘special’ flavour. There was a bit too much wood for my taste – and a small bedroom with a wall of mirrors. Hmm!

And that lovely wallpaper. And don’t you just love that tiny retro work desk. And of course – the agent’s bowl of fruit in the kitchen was going to make all the difference!

Costigan-Dickson2

Costigan-Dickson3

Costigan-Dickson4

Any new owners would have to be thinking about an instant redecoration. But nothing required if it were to go to rent it out for a while.

If after the auction you had money in your pocket – and wanted a smallish house –and were to prepared to strip out and modernise – then this could have been just the thing to get you into the inner north.

And for added pressure – we heard that as this was being sold, that there were no other stand-alone houses for sale in Dickson – apartments yes – but no other houses.

Costigan-Dickson5

The garden had been worked over – tidied up – so you could live with it for a while and do changes gradually. I did like the agent’s placement of little pots of flowers – with a lonely one in the front garden just for good measure. Sure to bring in more buyers.

The big selling points were that this future home was on a corner of tree lined quiet streets in this inner suburb, close to several schools and shops and was two houses from the wetlands (free range dog park for many). So the location was wonderful (location – location etc).

And – if you wished – there was plenty of scope for extra additions/renovations – having a generous back-yard.

The former sale was a three bedroom basic, was plain, had a minimum garden and was a couple of streets away from today’s auction. That sale had surprised locals when it went for a cool $905,000. The new owners are in and nothing has changed – so far.

Back to today’s auction.

The bidding got under way and stalled around $850K with just two bidders. I could see several other registered bidders, but none of them made any moves. Oh yes – all waiting to jump at the end maybe.

The owners apparently gave the nod that this price, around $850K was very acceptable. So the auctioneer, being Mr Luton himself, pushed on with the sale now guaranteed.

The pressure was being directed big time at the second bidder – with the auctioneers and the local agent pushing him incrementally on. Meanwhile, in the other corner, the other bidder remained very calm and simply added more as the former gave in and put in a bid.

No other bidders were joining in. So it was down to just those two.

Costigan-Dickson

Then it was all over!

Again it went for a cool $905,000. The owners were smiling! And why not – that’s better than the predicted high of $800K – $850K. So those potted flowers and the bowl of apples were worth it!

Locals were surprised  – again. While it is not a ‘record’ or a stunning price – it is a high price for a very ordinary 3-bedroom basic house.

And for the local residents – it confirms, based on these two house sales of very similar standard, that this is now the lowest price for a three bedroom stock house within Dickson’s inner tree lined streets. Houses on the busier street on the edges, along Majura Ave etc, are bringing it a little less.

As for the buyer – I could not tell. She was alone and looked like an agent herself. I can only speculate. She was cool – was not flustered at all by the price. I wonder how high she would have gone.

We have to wait to see whether a bulldozer appears, or the tradies arrive to do a make-over for a household – or is it an investment?

And full marks to the auctioneer – he got a good deal for the buyers.

And the locals all returned home to speculate on their own properties.

Anyone for Goulburn?

What’s Your opinion?


Please login to post your comments, or connect with
21 Responses to
Another wonder – another Dickson auction
Filter
Showing only Website comments
Order
Newest to Oldest
Oldest to Newst
bj_ACT 1:47 pm 07 Jun 17

So Chewy14 – You keep telling me I’m wrong in my claim that the Rates system has flaws in how it calculates the rates amounts. I gave you random real world data and real world examples between Dickson, Downer and Kambah. You said it will work itself out over time, but I still believe it won’t, because the systems calculation model using square metre block size, views and aspects is flawed in its methodology. An inability and data limitation of the rates model to properly measure the improved value of land remains flawed and it continues to flow through with annual rates increase calculations.

But the real proof in the pudding that you might wish to note. Is that the latest ACT Budget has increased Rates in Kambah by 8% per annum and Downer just 9%. This is despite a $4,000 median house price increase in Kambah from 2015 to 2016 and a $79,000 median house price increase in Downer over the same period.

http://www.canberratimes.com.au/act-news/2017-act-budget-reveals-average-rates-increase-of-7-percent-20170605-gwknfv.html

Maybe even more crazy…. Kambah Units have had their rates increase by 24% compared to 19% for Downer and Dickson. How can anyone not comprehend the real data that shows year after year that residents of Suburbs like Kambah and Wanniassa are paying rates at a much higher proportion of their land value than residents in inner Canberra.

Related Articles

CBR Tweets

Sign up to our newsletter

Top
Copyright © 2018 Riot ACT Holdings Pty Ltd. All rights reserved.
www.the-riotact.com | www.b2bmagazine.com.au | www.thisiscanberra.com

Search across the site