Colliers International marketing executive Johnathan Julius said they had reached their aim of averaging $1000 per square metre, with 24 of 25 lots being sold.

He said the blocks ranged in sale price from $450,000 to $525,000.

"It was a very positive turnout,” Mr Julius said.

The lots were selling mostly $55,000 above reserve price.

"I think the opportunity to own land in the inner north has really presented itself," he said.

The turnout included couples, individuals and builders, with interest from second home buyers looking to upsize.

There were 150 enquiries, with 80 registered bidders on the day.

Canberra's upcoming light rail will be in close proximity to Mt Majura, but Mr Julius said this hadn't appeared to have added a boost to sales.

"This has not been a topic of conversation as a consideration for buyers for Mt Majura Estate," he said.

It was the final auction at the estate, with the Saturday auction seeing off the remaining single residential sized lots.

The original Watson site was home to the Canberra Carotel, a motel and caravan park.

"The estate and its surrounds will help rejuvenate and old site that has been used for cheap accommodation," Mr Julius said.

"The last auction was held in March this year with a 100 per cent sales rate."

The lot which failed to sell on Saturday will be returned to developers. 

Finbar O’Mallon