Entry-level properties throughout Geelong are attracting unprecedented curiosity with bidding beginning at a value level that’s leaving many out of the race.
Twenty-one registered bidders spurred competitors for an inexpensive two-bedroom home in Rippleside that offered $164,000 above reserve on Saturday.
McGrath, Geelong agent Michael Marmora stated the opening bid for 28 Holden Avenue was $10,000 above the $495,000-$540,000 value vary.
An area investor who plans to finally transfer his household in ended up paying $694,000 for the low-maintenance brick home on a 260sq m block only a few doorways down from St Helens Park and seaside.
“There have been 4 folks that truly bid,” Mr Marmora stated.
“The primary bid was $10,000 above the highest finish of the vary so there have been numerous a people who sadly didn’t get to bid.
“An area purchaser competed with a Melbourne investor and the native purchaser ended up getting it, he talked about that he paid just a little bit greater than he wished to that was simply with the competitors.”
He stated the home was one in every of only some brick residences in Rippleside and attracted 120 teams all through the marketing campaign.
Throughout city in Grovedale, first-home consumers drove competitors for an three-bedroom home at 27 Heyers Road, Grovedale.
The weatherboard home on a 695sq m block offered underneath the hammer for $610,000, effectively above the value information of $550,000.
Hodges, Geelong West agent Ryan Shelley stated the choice to take a property to public sale in Grovedale, the place personal gross sales are favoured, mirrored the depth out there.
“It offered to a first-home purchaser, a younger chap transferring to the realm,” Mr Shelley stated.
The home has an open-plan dwelling zone, house workplace, ensuite toilet to the principle bed room and a storage massive sufficient for 3 automobiles and a workshop.