Relocating buyers phone home

INTERSTATE buyers were excited as they bid over the phone to secure a rare Highton home.

The family is planning to relocate to Geelong after buyers agent Jodie Petrusov won the sixbedroom weatherboard house at 8 Oakview Court, Highton for $940,000.

The property provides a stunning climax to the court in a neighbourhood close to Epworth Hospital and Waurn Ponds, with a leafy front yard framing the rare timber home built amid a brick veneer street after 2000.

Barry Plant, Highton agent Kieron Hunter, below, said the property had it all, including the six bedrooms, off-street parking for six vehicles and a swimming pool amid the backyard entertainment zone. The rear of the property also offers a view over St Augustine’s Lagoon.

But the auctioneer had to start proceedings with an $850,000 vendor bid after the big crowd containing four confirmed bidders remained silent. Two young families started bidding, taking the price beyond $800,000 before the buyers agent, with the phone to her ear, entered the fray.

Mr Hunter called the property on the market at $920,000, though the first bidders tried to remain in the contest with small bids to no avail.

ARMSTRONG CREEK

A LOCAL family intends to operate their small business from a farming property on the edge of Geelong’s Armstrong Creek growth area.

The buyers secured the 5.4ha property at 15 Baenschs La, Armstrong Creek, after auction for $1.154 million.

Hayeswinckle, Newtown agent Andrew Crowhurst said the farming zone property had also attracted several investors to the auction, but the eventual buyers were the only party to come forward with an offer after the property was passed in.

The aerial images of the property show how close it is to Armstrong Creek’s Warralily Village shopping centre, but it was outside the urban growth boundary, limiting its value on the market, Mr Crowhurst said.

“It might as well have been 20km away,” he said. The property is located minutes from beaches at Barwon Heads, Breamlea and Torquay.

It contains a four-bedroom house in a garden setting, while outbuildings include a tack room and multipurpose shed, with an open paddock ideal for horses and a designated green belt.

NEWCOMB

RESIDENTS of a quiet Newcomb street should expect little to change in the neighbourhood after investors became the second owners to an original 1950s house.

The three-bedroom house, below, on a 1174sq m block at 12 Cecil Court sold for $480,000 after it was passed in for $450,000 at Saturday’s auction.

Eastwood Andrews, Geelong agent Nicole Andrews said the buyers had looked at the mid century house early in the campaign and resurfaced at the auction.

“They are investors so will be renting the property out long term,” Ms Andrews said.

The street is opposite East Geelong, with local shops and supermarkets minutes from the door and the CBD five minutes away.

The agents said the potential rental income from the property was $350 a week, while the land component offered capital growth opportunities.

GEELONG

FOMO or fear of missing out has definitely disappeared from Geelong’s auction market if a sale of a waterfront home gives any indication.

Buxton, Newtown agents Christine Allison and David Gray enticed a low-ball $1 million offer for the three-bedroom house above Austin Park at Saturday auction. But after the property at 17 England St passed in on a $1.3 million vendor bid, the buyers stepped forward.

Ms Allison said the young couple, who she knew were keen on the property, above, told her they didn’t make a bid because they were waiting for someone else to make the first move.

The “strategy” worked as they negotiated to buy the two-storey residence for $1.345 million.

“They’re buying it for themselves and they’re going to live there,” Ms Allison said.

While the sale represents a $45,000 increase in the value in 20 months, the sellers, who paid $1.3 million in 2017, would have incurred a loss after factoring in stamp duty and other costs.