BUILDER NAILS ENTRY POINT
A DETERMINED first-home buyer outlasted three other parties to secure his slice of Herne Hill, winning the keys to 42 Fraser Street at auction on Saturday.
The young Geelong man, who did not actually intend to bid on the day, pounced on the opportunity to take ownership of the entry-level weatherboard home.
The one-bedroom, one-bathroom house, on a 478sq m block with plenty of space for an extension, sold for $628,000.
Buxton Newtown auctioneer Tom Butters said “strong markets call for strong buyers and bidders”, soon before asking for bids at $460,000.
And it was not long before the fingers were flying, with a flurry of bidding pushing the price well past the estimated price range of $469,000-$499,000.
Buxton agent Scott Roncon said the buyer had been trying to get into the market for a while and had big plans for his new pad.
“It was a huge result,” Mr Roncon said “The young gentleman has missed out on a few properties and didn’t want to miss this one.
“He’s a builder who wants to get in and finish the home, renovate and extend and make it a family home. I’ve actually sold that property three times and it’s great that someone’s going in there to finish the job.”
The property, which last traded in 2018 for $479,000, has schools, parks, sporting reserves, Minerva Road and the Geelong Ring Road within easy reach.
Herne Hill’s median house price is $614,000, according to Hometrack data.
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