A COVETED location opposite the Barwon River has pushed the value of a Belmont property more than $90,000 above reserve.
A Geelong family paid $662,000 to secure a funky 1970s house at 53 Barrabool Rd under the hammer on Saturday.
Hayewinckle, Newtown agent Michelle Winkle said competition from two bidders for the rare offering saw the $570,000 reserve smashed.
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She said the result showed that even in a slower real estate market, buyers were prepared to pay top dollar for unusual properties and locations.
“I think no matter what the market is doing if the location is very, very unique it will go well,” Ms Wickle said.
“This was the first time it had ever been offered.
“It was a very rare house — it has two living areas, two kitchens and two bathrooms, it was pretty much two houses and I think that is why it got such a good sale price.”
The two-storey, five-bedroom house had been in the hands of one family since it was first built in 1971.
Its 658sq m block, directly opposite Barwon Valley Park, had been expected to attract developer interest.
But Ms Winckle said the new owners loved the original 1960s and 1970s character of brick veneer house.
“It is an awesome house and they are just going to live in it,” she said.