Chat with us, powered by LiveChatSingle bid by young buyer snares million-dollar Belmont home

Single bid by young buyer snares million-dollar Belmont home

Strong spring auction with five sales from six auctions by Barry Plant Highton

One bid was all it took for a young buyer to win a six-bidder auction for a luxuriously renovated house in Geelong.

The 9 Rotherham Street, Belmont house fetched $1.3 million or $100,000 above the seller’s reserve.

“A young lady, who had her family there to assist, waited till the end to make one bid and bought the house,” Barry Plant Highton auctioneer Matthew Hunt said.

“She had been actively looking to buy and waited to see how the auction was going before making her bid.”

“It was good to see such a young buyer and this will be a confidence booster for young people seeking to own property,” Mr Hunt said.

The three-bedroom house on 637sq m had a strong auction campaign with more than 100 groups attending inspections.

“The buyers were mainly families looking to owner-occupy and were impressed by the home, which had been fully renovated since the owner bought it in 2019,” he added.

“It was immaculately finished, from the front fence to the back fence.”

The auction started with a $1 million bid and after “quite fierce bidding” gave the owner a strong result.

Sale records showed the property was purchased in 2019 for $416,000. It was then renovated into a family entertainer with two living areas and a luxury kitchen.

It features excellent indoor-outdoor connection with sliding doors opening to an outdoor entertainment space and garden. It is also within easy distance of Belmont High School, Barwon River walking tracks, Highton Village, Roslyn Primary and High Street shops.

The agency had a strong outing on November 19, selling five out of six auction properties for an 83 per cent clearance rate.

Among the sales was a three-bedroom house on 3402sq m at 16-17 Chandon Court, Waurn Ponds, which fetched $1.45 million. The property was passed in and sold after an acceptable price to the seller and buyer was negotiated.

The charming weatherboard house located in the prestigious Grange Park Estate has formal landscaped gardens.

The agency also auctioned two Belmont homes, with 199 Roslyn Road selling for $850,000 and 30 South Street changing hands for $820,000.

On the market in Geelong suburbs, Mr Hunt said it “was challenging but becoming more stable”.

“Supply is holding up and sales are still going through,” he added.

“And sellers who engage agents who know the market and align prices correctly will get more buyers.”