Character homes in Geelong’s inner east sold after auctions as bidders set their limits on how far they were prepared to go under the hammer.
The homes in Bellerine St and Humble St had attracted plenty of interest during the campaigns, although two buyers turned up to bid at each auction.
Bidders got down to business at 207 Bellerine St, where the competition for a three-bedroom Victorian era house opened at $710,000.
The competition between a buyers advocate and another buyer bidding over the phone stalled at $737,000 when Buxton agent David Gray passed the property in.
It sold after negotiations for $745,000, Mr Gray said.
“The vendor was always ambitious and we were aiming for mid $700,000s so we got $745,000. He’s really happy with that,” he said.
The weatherboard house was positioned for a professional couple, investors or downsizers offering the best of inner-city living.
CBD access, GMHBA Stadium, South Geelong train station and the Garden St shops are close to hand, not forgetting the Commun Na Fiene Hotel opposite on Kilgour St.
“The home has got character, it’s got charm. Certainly it’s very comfortable to step in with a generous floorplan and all the modern comforts that you look for,” he said.
Mr Gray said the art of negotiation would come to the fore as the heat in the property market for the past two years cooled.
Geelong recorded a 69 per cent auction clearance rate over the Queen’s Birthday long weekend.
“I think that’s a sign of the times at the minute. There will be a few more pass in. The good buyer is there, but is the second or third one there to give them that extra nudge?
“Honestly, it’s like it was before Covid. We’ve just been spoiled the last two years.”
Just two of the anticipated competition for an updated character house at 20 Humble St was the crowd as Whitford auctioneer John Moran got things started on a vendor bid.
Selling agent Callum McDonald said one bidder made a solitary bid before the three-bedroom house was passed in at $860,000.
“We negotiated afterwards and we agreed on a price of $890,000,” he said.
“They’re living in Geelong at the moment and they love East Geelong. Because it’s such a tightly held pocket they’ve been looking for a while.
“You’re on the fringe of the city.”
Mr McDonald said the campaign highlighted the character and size of the home, which was offered with a $859,000 to $899,000 price guide.
“It was previously tenanted, the vendors and Heidi (Trempel) and I had a meeting and agreed to get it staged professionally,” he said.
“That made a considerable difference because it had quite a spacious living area and with furniture and the styling it really brought out the character.
“People who were looking for a home to live in got the feel for it, rather than if it was just empty.”
The updated three-bedroom house occupied a 453sq m corner block close to schools, the Garden St shops and Eastern Park.
A pretty porch with double doors and a wide entry welcome you into the single-level house.
Inside, hardwood timber floors and original leadlight windows with timber trimmings are on show.
More modern features include ducted heating and a solar hot water system with shiny stainless-steel tank.