Standout January sales kick start the new year in regional Victoria
More choice for buyers as stock levels rise in Mildura and Geelong
Buyer demand has fuelled strong January sales in two regional hotspots.
“This is great news for buyers,” he said.
The region was a hotspot for those seeking entry-level homes, lifestyle properties and heritage houses, Mr Love added.
He pointed to the 1923 Arts and Crafts property at 328-332 Eleventh Street, Mildura, which sold for $785,000.
More than 70 groups inspected the three-bedroom period house on 1910sq m, which attracted multiple offers and sold to local first-home buyers.
The young and enterprising family planned to renovate the house and develop the block, which has potential for subdivision, Mr Love said.
Located at the intersection of Toorak Drive and the prestigious Golden Mile, the house displays distinctive character on the vast block with dual frontage, a rear lane and two titles.
Another young family snapped up a four-bedroom house on a 5152sq m block at 706-710 Karadock Avenue, Irymple.
The property sold for $750,000 after only four days on the market, according to Mr Love.
“It attracted 45 groups at the first open,” he said.
“Nine made offers and it sold above the asking price.”
The house sold quickly because it had been renovated to a high standard and was set on a sprawling block in the coveted Irymple Secondary College zone.
A charming two-bedroom bungalow for guests, sheds and chicken runs added to its appeal.
In Geelong, rising demand for updated properties has fuelled strong January sales, according to Barry Plant Geelong director Chari Emirzade.
“It’s been a great start to the year, with more than 18 properties sold,” he said.
As listing numbers rose 20-30 per cent compared to the same time last year, buyers had more properties to choose from, Mr Emirzade said.
The renovated three-bedroom house at 24 Jedda Street, Bell Post Hill, drew plenty of attention, including three offers.
A local first-home buyer paid $640,000, which was above the seller’s expectations.
“This property achieved one of the highest prices for a three-bedroom house in the suburb,” Mr Emirzade said.
Its presentation, elevated 641sq m corner block with subdivision potential, and captivating views across Geelong, were the main drawcards.
Buyers were also attracted to its location near Bellpost Shopping Centre, Kardinia International College and the CBD, Mr Emirzade said.
Another first-home buyer got their foot in the market by securing the neat three-bedroom house at 11 Moran Place, Norlane, for $430,000.
“The buyer was from Melbourne, while the seller was an investor from Cairns,” Mr Emirzade said.
The property lasted less than 30 days on the market and was a favourite among entry-level buyers looking for a low-maintenance home within easy access to the CBD and Princes Highway.