NOW, BELMONT JOINS THE MILLION-DOLLAR CLUB

A PRESTIGE market is starting to emerge in Belmont with million-dollar properties attracting interest.

A stunning Edwardian house at 2 Peary St has just been listed for sale with price hopes of $1 million to $1.1 million.

Whitford Newtown agent Heidi Trempel said in the little pocket of Belmont near High St and the Barwon River there were some really big and beautiful period homes.

“Belmont has started to be recognised now as it is really close to the city,” Ms Trempel said.

Agent Kieron Hunter, of Barry Plant, Highton, said three out of four buyers for top-end Belmont properties a year ago were from out of Geelong, but this is not the case any more, with local buyers making their move.

“There is a lot of local activity at the moment, with a lot of buyers coming from the other side of the river,” Mr Hunter said.

“Buyers from Newtown and Geelong West can sell their property with a similar house and come over here and have more land and a better product.”

Mr Hunter said these buyers were happy to pay for fully renovated homes in Belmont, whereas three years ago flipping a house wasn’t an option, as you would spend so much on a renovation and could overcapitalise.

Buyers won’t have to do a thing at the Peary St property, which goes to auction on November 24 at noon.

Ms Trempel said Belmont was made up of a lot of brick homes and period homes, but nothing as substantial as this.

“Not that many in Belmont have them this big and it has rear access which is a bonus,” she said.

The three-bedroom house is on 987sq m of land in a blue-chip location.

TESSA HAYWARD