Chat with us, powered by LiveChat

Long-term homeowners cash in on strong Highton market

Melbourne buyers swoop on auctions in East Geelong

Downsizers, young families and investors flocked to Geelong’s east to compete for four properties which fell under the hammer at the weekend.

Barry Plant Highton scored a 100 per cent clearance rate for the first day of May, with each home selling comfortably above the vendors’ expectations, including 77 Augustine Drive, Highton, which was snapped up for $830,000.

A young family and retirees battled for the four-bedroom house that sold $40,000 above what the seller had anticipated, according to director Kieron Hunter.

“The size of the property was just perfect, not too small and still with two separate living areas, and in immaculate condition,” he said.

Adorned with stunning original features such as parquetry flooring, open fireplace, ceiling roses and charming light fittings, the house attracted about 80 groups during the campaign.

The market is going strong in Highton with the median house price up 23.5 per cent to $774,000 since December 2020, according to data from realestate.com.au.

Mr Hunter said he has noticed a return to normal marketplace conditions for Highton.

“There’s certainly more stock on the market and our buyers are well spread with an average of about three bidders per property, down from the five we were seeing a few months ago,” he said.

“Although we are seeing fewer bidders at each house, the price point remains the same, people are still pushing at the top end.”

Another great sale was recorded at 17 Roycroft Avenue, Highton.

The unrenovated, three-bedroom, brick veneer house sparked a spirited contest between an investor and a young family from Melbourne, who won the keys to the home for $699,000.

“We had two bidders go hammer and tongs at the auction, it was just back and forth, back and forth,” Mr Hunter said.

Nearby, two bidders battled for 1 Lambhill Crescent, Highton, which was snared for $825,000 by a couple relocating from Melbourne. .

Perched on 775sq m, the four-bedroom property was listed for the first time with a $780,000-$850,000 price guide.

“The couple had lived in Geelong previously, so plan to relocate back to the area from Melbourne, for its lifestyle and affordability,” sales agent Matthew Hunt said.

“It’s a really nice, renovated home which has a serene private oasis vibe running through, and it’s also in a great location with easy access to the ring road and back to the Highton village.”

There are four auctions scheduled for Barry Plant Highton on Saturday, May 8.