13 Elizabeth St, St Albans Park, sold for $682,500.
Could Geelong’s cooling property market about to undergo an early thaw as more buyers hit the streets at midwinter auctions.
There were more active buyers out and about around Geelong at the weekend, with a 59 per cent clearance rate at auctions across the region, the strongest result in several weeks.
While a two-bedroom unit in Newtown attracted the most action, with six bidders on the way to a standout $795,000 sale, a 1940s era house in St Albans Park was also the object of hot competition from hopeful buyers with one eye to the future.
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Four bidders contested the 1128sq m property at 13 Elizabeth St, boosting the $600,000 to $660,000 sale hopes to sell for $682,500.
Barry Plant, Highton agent Julia Warren said the wide side driveway providing easy access to the deep backyard had attracted developers to the prospects available with the property.
But she said owner-occupiers emerged as the front runners for the three-bedroom brick veneer house.
“In all honesty though a lot of people liked the house,” she said.
“There were definitely developers looking at the property, and one of the bidders was a developer, but the majority of the interest was from owner occupiers wanting the space to build a shed or an extension on the house.
13 Elizabeth St, St Albans Park, sold for $682,500.
13 Elizabeth St, St Albans Park, sold for $682,500.
13 Elizabeth St, St Albans Park, sold for $682,500.
“It was popular, there was a large volume of people on it over the few weeks it was on the market. Ultimately the buyers were the ones that saw it in week one.”
Ms Warren said the house presented as a blank canvas ready for new owners to put their own stamp on it.
The layout offered three bedrooms, an open plan living and kitchen zone and a central bathroom. The kitchen remained in largely original condition.
37 Coquette St, Geelong West.
37 Coquette St, Geelong West.
37 Coquette St, Geelong West.
In Geelong West, two bidders were in the running for a renovated, four-bedorom house at 37 Coquette St.
The property was passed in on a $1.16m bid and sold immediately after in negotiations for a higher, undisclosed price.
“The buyers will be moving in, they are in Geelong West they are a young families and they are wanting to expand their family and have a bigger house,” she said.
“It suited their needs beautifully because they didn’t want to leave the area.”
Ms Trempel said it seemed the property market had reset to pre-Covid conditions.
“Everybody is asking me at the moment, buyers and owners, what is the market like and to me it’s exactly the same as pre-Covid in terms of activity,” she said.
“Some sell on the day, some sell after and some private sale after that.
“It almost feels like last year’s frenzy didn’t happen but we had an increase in price now.”
