Owners of several properties listed for sale in a tightly-held Highton street will be feeling optimistic after the first house set a new price benchmark.

Owners of several properties listed for sale in a tightly-held Highton street will be feeling optimistic after the first house to go under the hammer set a price record on Saturday.

One bid from a Kennett River couple was all it took to knock off the considerable competition for the four-bedroom home at 2 Bundoora Cres.

Latecomers Dave and Mel Kohout waited until the last possible minute to swoop, paying $596,000 to edge out four other bidders.

The result just tops the previous street record of $595,560 for 5 Bundoora Cres in 2017, according to CoreLogic.

“I was thinking I would just wait to see how it went but then I thought ‘I’d better get one in there’,” Mrs Kohout said.

“We bought the property as an investment for our girls if they want to come to Geelong down the track.

“We really like this little pocket.”

Barry Plant, Highton agent Kieron Hunter took an opening bid of $520,000 and declared the property on the market at $555,000.

He said the house, close to the Porter Ave shops and cafes, offered great lifestyle benefits and the comfort of two living areas and two bathrooms.

“It’s a 750sq m block, soaking up all that north sun with nobody in your way,” Mr Hunter said.

Source: news.com.au