Buyers frenzy in search of homes
FRENZIED bidding from two key parties pushed the selling price of a weatherboard house in Belmont more than $80,000 above reserve at auction on Saturday.
A Melbourne couple, bidding through an agent, secured 111 Francis St for $521,000 after a quick fire exchange.
Ray White, Highton agent Matthew Constantine declared the property on the market after the fourth bid hit the $440,000 reserve and the bids quickly continued to rise from there.
The new owners were relieved to emerge successful as they had been looking to buy in the Belmont-Highton area for about four months.
They plan to relocate from South Yarra to the three-bedroom house on 604sq m just off Settlement Rd.
“I’m a little bit scared by how big the yard is,” she said. “There’s even a cubby house.”
EAST GEELONG
A MELBOURNE couple’s long search for a downsizer property in East Geelong has finally paid off.
Dave and Sandra Moyle (pictured above) secured 3 Loch St for $622,000 at auction on Saturday after looking for a suitable home in the suburb since February.
Mr Moyle said the couple initially discounted the three-bedrooom house, which had undergone a sustainable upgrade by Third Ecology architects, because of the large spa out the back.
“We never came down to look at it but when you come here and see it in place it actually works,” he said.
“We have been looking for a while in East Geelong.”
Gartland Property, Geelong agent Nathan Ashton kicked off proceedings with a vendor bid of $550,000 and 20 bids later, the Moyles successfully saw off the only other contender.
Price expectations for the property had been $600,000 to $650,000.
GEELONG
A RARE chance to secure a 730sq m property close to the CBD has pushed the sale price of 117 Maud St, Geelong above expectation.
Local buyers beat two other contenders for the clinker brick house before a crowd of more than 100 people at auction on Saturday.
Gartland Property, Geelong agent Nathan Ashton said the new owners planned to renovate the house and move in.
“They grew up in the area and are making the move back there,” he said.
He said bidding opened at $650,000 and eventually climbed beyond the $770,000 expected price tag.
The house had many original features including hardwood timber details.
HERNE HILL
SUBURBS in Geelong’s northwest have confirmed their reputation as some of the city’s hottest property with another strong weekend auction result.
A three-bedroom, one bathroom brick house at 20 Panorama Rd, Herne Hill (pictured below) sold for $615,000 at auction on Saturday.
PRD Nationwide, Geelong agent Glenn Hardman said strong competition pushed the result well above the reserve price.
Price expectations had been between $520,000 and $560,000. Mr Hardman said the new owners were from Geelong and planned to move into the house.
“Location was a big factor for them,” he said.
EAST GEELONG
A GORGEOUS renovation and landscaping have paid dividends for the sellers of an East Geelong california bungalow auctioned on Saturday.
The house at 268 McKillop St sold for $798,000, well above the reserve of $730,000.
It last sold for $480,000 in April, 2011, when it was described as needing “some cosmetic work”, according to CoreLogic.
Whitford, Newtown agent John Moran said the auction attracted about 80 people, with four bidders among them.
He said the new owners were from Geelong and loved the character of the house.
“It was a good renovation but also the garden was good,” he said.