Popular McKellar property fetches $1.68 million at highly anticipated auction

Families, locals and young couples embraced the wet weather at the auction of a highly sought-after home in Canberra's north on Saturday.

The luxurious five-bedroom property at 22 Vagabond Street in McKellar sold under the hammer for $1.68 million.

The sale sets a suburb price record, beating the former record of $1.46 million.

Zango spoke to Director and Owner Tim McInnes of Timothy Road prior to the auction, who rightly anticipated a strong crowd turning up to see the contemporary masterpiece be passed on to new owners.

"We have had very strong interest, with over 150 inspections and people from Belco, the inner-north, and also interstate,' Mr McInnes said.

"We have even had a few FaceTime viewings."

"We're going to have a nice volume of bidders."

And Mr McIness was bang on the money. About 150 people turned up at the auction and there were 4 active bidders competing for the modern family home.

There was fierce competition between interested buyers from the get-go. Bids opened up at $1.38 million and went up in increments of $80,000, $50,000, $20,000, $5,000 and then $1,000.

A family ended up scoring the keys to the property after outbidding another family by $10,000.

Mr McInnes said its modern design made it particularly appealing to prospective buyers.

"The finish and detail of this property makes it feel like a new home," he said.

"It's very unique to have a four-part garage with internal access and there is a beautiful lounge room with a gas fireplace."

The property has no shortage of modern flair. Upon entry, one is greeted with a very impressive front entrance and an immaculate front garden. Inside, the kitchen is spacious, has a breakfast bar, a butlers pantry and is fitted with the latest appliances. The communal bathroom is sleek and features a deep bathtub and shower.

The main bedroom has carpeted floors and a hidden ensuite bathroom with two shower-heads and a marble sink.

Outside, there is a pizza oven, cubby house and plenty of space to entertain.

Houses with five bedrooms, two bathrooms and extravagant modern appeal don't hit the market very often in McKellar.

According to Zango's listings, the only other five bedroom property on the market in McKellar is at 141 William Webb Drive and is listed with Ray White Canberra.

Mr McInnes said he was very happy with the auction result.

"This was a spectacular auction and it's great the rain held out just in time."

Zango data shows that McKellar has a current median sale price of $790,000. This is a $41,000 increase from last year, when the median sale price was $749,000.