Downsizer delights
$2.8M SPEND IN SIZZLING POCKET IN NEWTOWN
DOWNSIZERS swooped as close to $2.8m in property, two doors apart, changed hands on a popular Newtown street.
The two homes were auctioned in Nicholas St, Newtown, on Saturday.
The first cab off the rank was No.14, which Hodges Geelong West agent Jeff Begg described as “location times 1000”.
“North side of the street, wander down and you’re on Pakington St. A lifestyle location equals lifestyle,” Mr Begg said.
“Catch up with friends, entertain the kids, do the shopping, it’s all here.”
The 15-year old home offers a flexible five-bedroom, two-bathroom layout.
Mr Begg opened the auction with a $1.29m vendor bid before the solitary bidder countered with $1.32m.
He said the Newtown buyer later agreed to a $1.38m price in post-auction negotiations.
“It’s a big house, but it’s downsizing location-wise,” Mr Begg said.
“They’ve got a couple of teenagers and they just want to be in among it all.
“What you find with key positions like Nicholas St is people come into the Newtown and stay. It brings Newtown people out and about to stay put,” Mr Begg said.
There was other interest in the property that couldn’t participate at the auction, Mr Begg said.
“We had interest on it from
a buyer from Melbourne but they weren’t in a position to go (on Saturday). The other buyer was a Newtown buyer as well.”
Ray White Highton agent Adam Natonewski also opened with a vendor bid at 2/16 Nicholas St, but had two bidders going head-to-head for the four-bedroom, twostorey townhouse.
Bidding went in $25,000 increments for a large portion of
the auction before the property was knocked down to the successful bidders for $1.396m.
The sale eclipsed the $1.325m price for the townhouse at the front of the development, achieved last November.
“The buyers are from Drysdale and they’ve got a farm, 100-plus acres in Drysdale and are looking to downsize to that Newtown convenience location but not immediately,”
Mr Natonewski said. “They are going to rent it for a year or two maximum and then they will move into it.”
Mr Natonewski said interest wasn’t outstanding during the campaign, with 10 groups in total, but three returned every week.
“We knew there was interest from those particular buyers and two of them were ready to go on the day and went head to head,” he said.
Mr Natonewski said Nicholas St seemed to demand a premium due to its position just off the Pakington St shopping and cafe precinct.
“There seems to be always a few for sale in the street but they are all getting good demand – it’s a great position,” he said