Buyers push price on ‘stale’ home
NEIGHBOURS and buyers heading to bid on another house are hardly the crowd to boost an auctioneer’s confidence that there’s likely to be bidding on a property already passed over late last year.
But the pair’s unexpected appearance underscored the ability of the auction process to draw buyers from a crowd and create bidding in a seemingly stale property.
Buxton agent Ben Riddle, who faced the dilemma of cancelling the auction at 40 Nantes St, Newtown, found two buyers competing for the three-bedroom home they both hoped would be a future project.
Quoting a range from high $800,000 to low $900,000, the property sold for $950,000.
“One was the next door neighbour who was always looking for projects but who wasn’t in that price range a couple of weeks ago when I spoke to them, but decided they’d have a go for it,” Mr Riddle said.
“The buyers were a lovely couple who were looking at it to rent it out first and do something substantial with it down the track.
“They only saw it at the open house on the day and were actually on their way to bid at another auction they’d been to multiple times.”
NEWTOWN
A CHARMING house between Pakington St and Kardinia Park has sold after auction.
The buyer chanced a $500,000 bid on 8 Austin Terrace to secure the first right to negotiate after the property passed in, when the sellers agreed to a final $525,000 offer.
Buxton agent Matt Plunkett said the buyer was selling in Highton and would be moving in after falling in love with the location.
“Newtown is such a desired location and this is such a quiet street walking distance to everything,” Mr Plunkett said.
“It is a small home but it is liveable and it is a reasonable price for Newtown.”
BELMONT
A TIGHTLY held Belmont pocket was highly sought after on the weekend as three parties bid on a five-bedroom house.
The 983sq m property at 13 Amundsen St sold for $825,000, above the quoted range of $750,000 to $820,000.
McGrath, Geelong agent Tom Luxton said the buyers were from Waurn Ponds.
“They were after a bit of a lifestyle change,” Mr Luxton said. The Belmont treasure is not only in a sought after location but the house provides a lot of potential for renovators.
HIGHTON
A HUGE Highton block was in high demand with three parties bidding at auction.
The 1207sq m property at 256 Roslyn Rd passed in at $678,000 and sold not long after to the highest bidder for $679,000.
The price guide during the campaign was $630,000 to $660,000.
Barry Plant, Highton agent Kieron Hunter said the Grovedale buyer plans to rent it out for a few years and then renovate to move in.
“It is all about location, location, location here, it is a very rare 1207sq m block that is walking distance to Highton Village,” Mr Hunter said.
“You could renovate, develop or subdivide the back and keep the house.”
The 1960s brick house has hardwood floors, four bedrooms, three living areas, an open fireplace, and two dining spaces.
GEELONG WEST
POTENTIAL buyers kept hands in pockets at the auction of a renovated Geelong West house.
No one bid for 3 Villamanta St, pictured above despite the large crowd at the auction.
Maxwell Collins, Geelong agent Laura Vander Noord was surprised nobody raised a hand after she sent out several contracts during the campaign.
“It will definitely sell in the next couple of weeks,” Ms Vander Noord said.
The former medical suite was transformed to a four-bedroom family home close to Pakington St and Geelong train station.
Contemporary features mixed with period details create a luxury home with an elegant kitchen that has a butler’s pantry, two Smeg ovens, 3.5m stone island bench and underfloor hydronic heating in the polished concrete floor.