Agent warns bargain hunters as young buyers swoop on Geelong West home

The three-bedroom house at 25 Waratah St, Geelong West, sold for $1.19m. Homebuyers caught sitting on their hands after making a low-ball offer on a renovated character home in Geelong West learned the hard way that it’s not all a buyer’s market. But it was good news for a young Melbourne couple, who swooped on the Edwardian residence at 25 Waratah St, near Pakington St. Buxton Newtown agent Tom Butters handled the $1.19m deal for the three-bedroom house. “It’s a beautiful house in Waratah St, a really nice three-bedroom, two-bathroom home. Beautifully done,” he said. RELATED: ‘Unsafe’ Corio park to be sold off for millions Qualified buyers find clear air in East Geelong ‘A bit crazy’: Family goes large on multi-generational pad The young couple from Melbourne was looking to relocate down to Geelong, which Mr Butters said is a rising trend as buying conditions tighten in Melbourne on the back of three interest rate rises. “We’re meeting a lot of people from Melbourne with one kid and maybe a second on the way, thinking that Geelong’s a great place.” Rising interest rates was driving more buyers to once again look further afield considering both budget and lifestyle, he said. A rear...