The most recent sales of Mr Fluffy blocks by Civium Property Group Woden have been hugely successful, with 80 of the 87 blocks taken to market the past two weeks either sold or under offer.
The prices have also been high, with several blocks sold for more than $1.5 million.
“We are extremely satisfied with the results over the last week,” said Doug O’Mara, CEO of Civium.
“We are really glad that the community has had the opportunity to participate in such a large auction campaign and been extremely well received.
The successful sales show the depth of Canberra’s property market as well as the sheer demand for large blocks in established suburbs.
A single block of land on Burnie Street, Garran sold for $1.24 million. The double block on 18 & 20 Sabine Close sold for just under $2 million.
According to Civium, many of the buyers are developers — but just as many are “mum and dad” developers looking to pursue the Australian dream.
“The amount of blocks we have taken to market has encouraged not just builders but also private groups like families who want to design and build their own dream home in established areas,” Mr O’Mara said.
“Normally to have that opportunity they’d have to go the green belts or establish suburbs, traditionally out at Gunghalin or the Molongolo Valley.
“We’re looking forward to continuing to work with the task force on doing the best we can for the Canberra rate payer.”
The ACT government chose two agencies to run the auctions of Mr Fluffy blocks, Independent Property Group and Civium.
A further 18 blocks will go under the hammer at an auction event being held by Independent Property Group on Thursday. The auction is being held at Ainslie Football Club – Wakefield Avenue, kicking off at 6pm.
The sales have worked in tandem with the Asbestos Taskforce, the body charged with removing the carcinogenic substance from the territory.