NOW, BEL­MONT JOINS THE MIL­LION-DOL­LAR CLUB

Geelong Advertiser - - NEWS -

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

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