Value rises $150,000 in two years

AN on-point renovation, location and a large block have all played into the big ticket price for an unassuming Geelong West house.

The 1940s era house at 105 Britannia St went under the hammer on the weekend with 50 onlookers.

Whitford, Newtown, agent John Moran said the property sold for $555,000, an increase in value of $151,000 in two years.

“Two parties battled it out, with a young couple from Melbourne who saw it for the first time that day winning in the end.”

The two-bedroom residence has a small footprint on the block, and has a large living room, and combined kitchen and meals everywhere.

“We were expecting two other parties to bid, but it was all over in about three minutes,” Mr Moran said.

“The other two didn’t get a chance to bid. It went back and forth very quickly from $480,000 to $555,000.”

CoreLogic data shows the house last sold in 2015 for $404,000.

NEWTOWN

A YOUNG couple is set to make a new start in Newtown after securing a renovation project at auction.

The local buyers secured the three-bedroom weatherboard house at 301 Autumn St for $631,000 amid strong competition from several other bidders.

Maxwell Collins, Geelong agent Tom Kelly said the auction had a slow start, but three bidders soon found their groove, pushing the sale price well above the near $600,000 reserve.

“The buyers there are a young couple looking to get into the area, renovate the home and enjoy the location,” Mr Kelly said.

He said the property had attracted a mix of interest from owner-occupiers and investors during the campaign.

HIGHTON

AN artful renovation is on the cards for a renovator’s delight in Highton after it sold at auction.

Location and the Art Deco style were drawcards for the buyers of 23 South Valley Rd, who paid $390,000 for the three-bedroom house, on a 613sq m block.

Stockdale & Leggo, Belmont agent David Graham said builders bought the property.

“They’re going to renovate it and work with it, renovate it to a high standard and then sell it,” Mr Graham said.

“They want to work with the house sympathetically to its Art Deco style.

“They see the value in the location and know there’s a market for a quality renovation.”

GEELONG

CLASSIC character in the heart of the city has found favour with a buyer returning to Geelong.

Roseleigh, at 185 Yarra St, Geelong, sold after auction on Saturday for $750,000, with a crowd of 30 watching on.

Hodges, Geelong West agent Laura Vander Noord said bidding kicked off at $675,000.

Ms Vander Noord said only the one genuine bid went through on the three-bedroom character home, and it was negotiated after auction up to $750,000.

The three-bedroom house has street appeal, stemming from the weatherboard and ironwork.

“One of the buyers was born in Geelong, at St John of God, she’s pretty happy to be returning and buying in her birth town,” she said.

EAST GEELONG

TWO New South Wales buyers showed no issue with living on one Geelong’s busiest streets after competing for a renovated, four-bedroom period home.

But it took passing in the property to the highest bidder and negotiating after auction to achieve the $620,000 result for 189 McKillop St, East Geelong.

Hayeswinckle, East Geelong agent Amanda Frick said the Sydney buyers were looking to relocate to Geelong.

The underbidders were from Port Macquarie and they were also looking to relocate, Ms Frick said.

But she said the busy thoroughfare might have shied away local buyers with a keen knowledge of McKillop St.