More than 60 bids fired in marathon contest

THE chance to get their hands on an original Geelong West house built and owned by the same family for almost 70 years spurred potential buyers into a marathon bidding war on Saturday.

Buxton auctioneer Tony Moorfoot took 64 bids for 130 Isabella St as multiple buyers made a play for the mid-century brick home at auction.

After a slow start and an opening vendor bid of $460,000, the last two parties standing fired off a volley of bids ranging from $500 to $5000 to push the price above expectation.

The eventually buyer — who was in the action from the start — paid $556,000 for the threebedroom, one-bathroom house.

Price hopes for the property had been $470,000 to $500,000.

Buxton selling agent Tim Buckley said the Melbourne buyer was undecided on his plans for the house but would likely move into it eventually.

He said there was scope to update the original interior and add value to the 528sq m northfacing block.

“It was entry-level level for Geelong West,” Mr Buckley said. “The vendors had been there for just under 70 years, they were the original owners and had the place built.”

The neat brick house has a spacious loungeroom, a dining room and separate kitchen/ meals area and a central bathroom.

NEWTOWN

A NEWTOWN family won’t have far to move when it upgrades to new digs within the blue chip suburb.

After selling up recently in search of more space, the couple was thrilled to secure a threebedroom character house nearby at auction on Saturday.

They beat two other bidders for 35 Camden Rd, which sold for $873,000 under the hammer.

Gloomy skies and the threat of rain forced Whitford, Newtown agent John Moran to hold the auction under the cover of the property’s outdoor entertainment area.

But the shelter the space provided from the ensuing downpour was a great advertisement for its year-round benefits.

The location also showed off the lush, private gardens on the 786sq m block and the possibility of further extending the three-bedroom house.

The split-level design includes a central living zone, with an open-plan kitchen and dining room, and separate loungeroom.

Mr Moran opened the auction with a vendor bid of $800,000 before the competition pushed the price more than $20,000 above reserve.

BELMONT

THE chance to unlock the potential of a large Belmont block was the key to the sale of brick house in the suburb’s coveted high school zone.

An investor paid $530,000 for 4 Sullivan Court, Belmont, which sold under the hammer on Saturday.

Hodges, Geelong West agent Sean O’Brien said the buyer was one of four registered bidders for the 780sq m property, with two putting their hands up on the day.

Mr O’Brien said the new owner could see future value in extending the three-bedroom brick house or subdividing the block.

“The investor has great options to do a great renovation or extension to capitalise on the school zone,” he said.

“You could make a family home or, in the Belmont tradition, demolish and build two townhouses to capitalise on the downsizer market.”

He said there was big demand for modern townhouses in the area, which could fetch $750,000 to $800,000.

HIGHTON

A ONE-owner home in Highton’s prized Queens Park precinct has sold for almost $100,000 above expectation after multiple buyers pounced.

The two-storey, four-bedroom house at 2 Maidie St was scheduled to be auctioned in October but was snapped up after just eight days.

Barry Plant, Highton agent Kieron Hunter said the buyers paid $868,000 to secure the large 1060sq m block with a tennis court,

The price guide for the property was $735,000 to $775,000.

Mr Hunter said 40 groups turned up to the first open home.