Andrew Crowhurst calls the auction at 5 Edgecombe St, Hamlyn Heights. Picture: David Smith
COMPETITION for a smartly renovated house on a big block at Hamlyn Heights has pushed the bidding $66,000 over the reserve price.
Five bidders contested the three-bedroom clinker brick house at 5 Edgecombe St at Saturday’s auction.
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After a young couple had seemingly fought off two other buyers for the 809sq m property opposite parkland, two more bidders entered the race once Hayeswinckle auctioneer Andrew Crowhurst had called the property on the market when the price hit $540,000.
The young couple standing on the kerb had the early running for 5 Edgecombe St, Hamlyn Heights. Picture: David Smith
The property eventually sold for $606,000 to a Brunswick West buyer who intends to commute back to Melbourne for work.
The renovated home is near Ballarat Rd and the Geelong Ring Road, a factor which Mr Crowhurst said had attracted a number of buyers to the property.
The purchaser said he’d be driving on the freeway to Melbourne for work, though the prospect of a quicker train service was appealing.
“I can’t afford it in Melbourne,” the buyer said.
5 Edgecombe St, Hamlyn Heights.
“Unless they build that half-hour train in the next six months.”
If a similar property was available in Brunswick West, he estimated it would be worth at least $1.5 million.
But the purchase is also strategic, with the 809sq m land size leaving the option to demolish the house at a later date and erect townhouses on the site.
Mr Crowhurst said buyers had made a lot of positive comments about the large, north facing backyard and the styling of the house, which then first-home buyers purchased for $395,000 in 2015.
“It hasn’t been staged for sale, this is them,” he said.
“They’re house proud. it’s been a great first home but now it’s time for moving on.”