Australia's first solar suburb blocks snapped up quickly By Sonja Koremans Buyers of the first two blocks at the Denman Prospect land auction: Ivan, Susan and Zeljko Golem. Photo: ELESA KURTZ Home buyers have taken a shine to Australia's first solar suburb with hundreds competing for 40 blocks in Denman's first land sale. Some snapped up two and three blocks each at the sell-out auction in front of a 500-strong crowd at the Canberra Convention Centre. 
There were 250 registered bidders with final prices ranging from $410,000 to $560,000 for blocks from 375 to 800 square metres.
The prices were in line with market expectation.
Denman, which will take shape in the Molonglo Valley, is the first suburb in Australia where the developer has mandated the installation of solar panels for every dwelling.
The sustainability aspect proved popular with buyers, although some said it was costly, adding about $5000 to their block price.
Zeljko, Susan and Ivan Golem from Casey bought two blocks on Saturday and said building in a suburb committed to reducing Canberra's carbon footprint had been a drawcard.
"We really like Denman's renewable energy aspect, it's costly from the buyer's perspective initially but it's definitely a step in the right direction," Ivan Golem said.
Ivan, whose family are in the construction industry, estimates solar panel installation will add about $10,000 to $12,000 to the cost of both blocks and take 12 years to recoup on energy bills.
The Golems paid $530,000 and $535,000 for two premier blocks which will overlook parkland.
Capital Estate Development, an arm of the prominent Snow family's Capital Airport Corporation, is developing the 145-hectare Denman project.
About 2000 dwellings are earmarked for Denman, with the region expected to accommodate at least 55,000 new residents within 30 years.
Denman Prospect CED project director Nick McDonald Crowley said after considering a range of environment management options, solar was decided on as it could be quickly implemented and also made an obvious environmental statement.
"Every installation will be like taking a car off the road and it will reduce the carbon footprint of the entire suburb by about a third," Mr McDonald Crowley said.
"As the suburb takes shape we will continue to look for other energy efficiency initiatives."
The company was pleased with the auction result, he said. "You could see from the enthusiasm in the room that people with thrilled with their purchases."
About 25 per cent of yesterday's buyers were builders, he said.