The four-bedroom house at 23 Girton Crescent, Manifold Heights, looks out to the playground in the circular street.
Young families were at the forefront as a four-bedroom Manifold Heights home smashed its price hopes by almost $300,000 at a five-way weekend auction.
The 789sq m property is in the centre of arguably Geelong’s most family-friendly neighbourhood in Girton Crescent.
The home at number 23 is directly opposite the Girton Crescent playground, which occupies the centre of the circular streetscape.
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It sold for $1.78m after being listed with $1.385m-$1.5m expectations.
“Girton Crescent was a big lure because there’s so many people that just want to be in that specific position, with the park and it’s got that really family, soft, leafy environment,” McGrath, Geelong selling agent Jim Cross said.
“It was a really good sized, full four-bedroom house with a separate office and two living areas, and a double garage and three carports, so car accommodation was really abundant.
“The property would have been renovated about 25 years ago, so it was still in good order, but people could move in and maybe update the kitchen and bathrooms over time if they wish to.”
The character home occupies a 789sq m property.
The four-bedroom house at 23 Girton Crescent, Manifold Heights was listed for sale with price hopes from $1.385m to $1.5m.
Mr Cross said the property was flexible for younger families looking to raise children, though the property also attracted a downsizer coming from an acreage property keen to keep their hand in the garden.
There was an element of fear of missing out behind the result.
“Three out of the five bidders had already missed out on two or three properties previously offered,” Mr Cross said.
“That’s a sign that the mid-$1m family market is heating up. Usually we find when people have missed out on two or three properties and they find another one they like, they really don’t want to miss out so they will go the extra mile to try and secure it.”
The home attracted interest mainly from families.
The four-bedroom house at 108 Nicholas St, Newtown, sold for $2.25m.
Mr Cross said all the interest from younger buyers were from within Geelong.
“There’s definitely been a shortage of good, mid-range family homes for the past 18 months,” he said.
Meanwhile, just one of four expected bidders on a renovated four-bedroom Newtown character home raised a hand at the weekend auction.
The home on the 790sq m property offered four bedrooms and period features combined with modern updates in a sought-after precinct near Pakington St and schools.
The renovated home sold after auction.
The renovation highlights the home’s character features.
The residence at 108 Nicholas St, Newtown, retains original elements including timber floorboards, leadlight windows, picture rails and square-set ceilings, complemented by plantation shutters throughout.
The young family from Melbourne offered a $10,000 advance on the $1.9m vendor bid before the property was passed in, Mr Cross said.
It sold later for $2.25m, well within the $1.9m to $2.05m guide.
Mr Cross said one of the potential buyers was unable to lock in finance ahead of the weekend auction, but the result reflected the level of hesitation still evident for higher end properties.
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