Suburb hits new heights
Strachan Ave house sets record after being sold for $1.64 million at auction
A SUBURB record has beenn broken in Manifold Heights showcasing how strong the property market continues to be in Geelong.
Local buyers snapped up 166 Strachan Ave for $1.64 millionon at auction after multiple parrties bid for the property.
The previous record for the he most expensive house in thehe suburb was 36 Strachan St for $1.49 million, according to CoreLogic.
Bidding kicked off at $1.35 million and several parties competed to secure the property with the reserve price of $1.5 million quickly passed.
McGrath, Geelong agent Jim Cross said the result showed how strong the Geelong market was and how it was still on the up.
“Over the last three months we are seeing local buyers are matching and beating a lot of Melbourne buyers,” Mr Cross said. “Local buyers have accepted where the market is now and are meeting the market.”
He said that particular area of Manifold Heights was also very tightly held with families because of the large blocks and it was removed from the hustle and bustle and Pakington St.
The local buyers of the property told the Geelong Advertiser they had been looking for a few years and loved the quality of the house.
Mr Cross said that was another reason why the property was so sought after.
“The construction and finish of the home was fantastic ... the land size, location and quality build added to the end price as well,” he said.
The three-bedroom house is on 1060sq m of land and has a central courtyard with water feature, lift to the lower level and ensuites to two bedrooms as well as a bay view from the back entertainment deck.
It is also situated in Geelong’s highest capital growth area.