Real Estate

five buyers push bids 66k over reserve for renovated house in hamlyn heights

Written by The ReReport

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.


Bellarine Peninsula property prices skyrocket due to the SeaChange effect

Period pieces draw early offers as Geelong buyers snap up renovated homes

Spectacular views tipped to break $1M price barrier in Herne Hill

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.

Auction at 5 Edgecombe St, Hamlyn HeightsThe 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.”

Source link