First change of hands in 94 years

Geelong Advertiser - - MARKET WRAP - NI­COLE MAYNE

A DRUM­CON­DRA house owned by the same fam­ily for all of its 94 years has sold for al­most $80,000 above re­serve at a spir­ited auc­tion.

A fam­ily rent­ing in the tightly held sub­urb beat two other bid­ders to se­cure 15 Drum­con­dra

Ave for $901,000 on Satur­day. The four-bed­room house on 625sq m of land is one of just eight prop­er­ties to change hands in Drum­con­dra in the past 12 months.

Bux­ton, Newtown agent Tom But­ters fielded rapid of­fers from three par­ties af­ter an open­ing bid of $750,000 and de­clared the prop­erty on the mar­ket at $822,500.

He said the tightly-held na­ture of the sub­urb meant strong com­pe­ti­tion for prop­er­ties that hit the mar­ket there.

“(This house) has been in the fam­ily for 94 years and it’s a bit of a com­mon theme for Drum­con­dra,” Mr But­ters said. “It seems when you get into this sub­urb you dis­cover how good it is and you don’t want to leave.”

The buyer, orig­i­nally from Newtown, said his fam­ily had been rent­ing in Drum­con­dra and couldn’t wait to put down per­ma­nent roots.

GEE­LONG WEST

A YOUNG cou­ple priced out of the Mel­bourne mar­ket has joined the throng of buy­ers re­lo­cat­ing to Gee­long West.

The pair bought a for­mer Airbnb hol­i­day rental prop­erty at 2 Cross St (pic­tured above) for $652,5000 at auc­tion on Satur­day.

Hodges, Gee­long West agent Sean O’Brien said there were two bid­ders for the ren­o­vated weath­er­board house on the day.

Price ex­pec­ta­tions for the prop­erty had been $550,000-$600,000.

“The buy­ers are a lovely Mel­bourne cou­ple who are mov­ing down to take ad­van­tage of the dif­fer­ent mar­ket con­di­tions in Gee­long,” Mr O’Brien said.

“They loved just the prox­im­ity to Pak­ing­ton St, the water­front and the Surf Coast.”

The house of­fers three bed­rooms, in­clud­ing the main with en­suite, and a liv­ing area with french doors onto a small, pri­vate gar­den.

BEL­MONT

A REN­O­VATED Bel­mont house has sold for $110,000 above ex­pec­ta­tion in a pre-auc­tion bid­ding war. Two buy­ers bat­tled to se­cure the keys to

14 Bai­ley St days be­fore it was due to go under the ham­mer.

A win­ning cou­ple paid $580,000 for the fourbed­room weath­er­board house with a solid brick rear ex­ten­sion.

Barry Plant, Highton agent Kieron Hunter said the woman in the part­ner­ship did not even have the chance to in­spect the prop­erty (pic­tured be­low) be­fore mak­ing an of­fer.

“She had seen it on­line but only came through af­ter the cool­ing off pe­riod,” he said.

The rear ex­ten­sion in­cor­po­rates an open­plan kitchen, meals and liv­ing area over­look­ing a large back­yard.

THOM­SON

THE in­ten­sity of auc­tion con­di­tions were mag­ni­fied when a crowd of 25 peo­ple was forced to take shel­ter in the lounge­room of a Thom­son house of­fered for sale on Satur­day. The wet weather and close con­di­tions in­side

27 Cal­lan­der St didn’t de­ter two bid­ders from putting their hands up for the three-bed­room, red brick house.

Maxwell Collins, Gee­long agent Eu­gene Car­roll said the prop­erty was passed in on a bid of $370,000 but sold im­me­di­ately af­ter within the $380,000-$390,000 price range.

“The buyer was a lo­cal in­vestor and she had been look­ing for a while,” Mr Car­roll said.

HAMLYN HEIGHTS

CU­RI­OUS neigh­bours will have to wait a lit­tle longer to dis­cover the fate of a 1960s Modernist house in Hamlyn Heights.

Sev­eral buy­ers are in ne­go­ti­a­tions to pur­chase 14 Kirriemuir St (pic­tured above) af­ter it passed in on a ven­dor bid of $550,000 at auc­tion on Satur­day.

Paul Bell, Gee­long agent Re­nay McIntyre said de­vel­op­ers, builders and ren­o­va­tors were among those who had ear­lier shown in­ter­est in the two-bed­room house on 815sq m of land.

Price ex­pec­ta­tions had been $590,000$640,000 ahead of the auc­tion.

The house has views across Co­rio Bay.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.