The three-bedroom house at 68 Moruya Drive, Grovedale, is listed for sale with price hopes from $699,000 to $709,000.
A Grovedale home has tested the temperature of the housing market in Grovedale and discovered it’s rising fast.
The long-term owners couldn’t have timed their run to market any better, having reached out to agents last year.
Jellis Craig Geelong agent Jeff Begg said when the 654sq m property was initially appraised, comparable sales data suggested the property was in the mid-$600,000 range.
RELATED: Luxury NZ-style farmhouse hits market in Batesford
Geelong’s 30-year boom suburbs revealed
Renovated home’s price jumps $362k in two years
The three-bedroom house at 68 Moruya Drive, Grovedale, sold for $820,000 at auction.
The kitchen has a breakfast bar and stainless steel appliances.
The home was snapped up for $820,000 at the weekend, having been listed with $699,000 to $729,000 expectations.
Grovedale’s median house price sits at $680,000, according to PropTrack which has recorded a 5.2 per cent rise in the past three months alone.
“It was a busy one. We had over 100 groups inspected prior to the auction,” Mr Begg said.
“There was competition between numerous bidders, where first-home buyers were competing with interstate investors, and it was ultimately secured by a family downsizing from Melton, coming to Geelong to be close to the grandkids.”
Mr Begg said the market for properties in the $600,000 to $800,000 price bracket was “absolutely on fire”.
“Location wise, it’s very good because it’s close to the Waurn Ponds Shopping Centre and all the amenities that young families want, which is why the investment dollars are there, because they get the return.”
A rear patio expands the living options.
The living, dining and kitchen zone is set beneath a vaulted ceiling.
But Mr Begg said presenting the property after an update to make it appealing to more buyers also helped push the price.
“We just freshened it up, it had a facelift, and it was styled,” he said. The three-bedroom house pivoted around a central kitchen, with a formal lounge off the entry and a separate dining and living area opening to a pergola in the backyard.
Making sure the property was rental compliant also helped, Mr Begg said.
“It meant that an interstate investor could buy at sight unseen, through their buyer’s agent knowing that they’d get a tenant in straight away and set and forget,” he said.
“For first-home buyers, we presented it in a fashion that they could buy it, and if they had to extend a little bit and pay a little bit more to secure it, they knew that they can move in and do less work.”
English (US) · 