A large crowd gathered to see McGrath, Geelong agent Will Ainsworth auction 21 Rugby St, Belmont. Picture: Mark Wilson
BELMONT’S property market continues to defy expectation with a renovated house selling for more than $80,000 above the quoted range.
Young first-home buyers paid $702,000 for 21 Rugby St before a big auction crowd on Saturday.
MORE REAL ESTATE NEWS: What you can get for the median house price in Geelong suburbs
International recognition for luxury Barwon Heads kitchen design
Architect designed renovation delivers showstopper home
The weatherboard house has been renovated throughout.
Two bidders was all it took to push the result for the four-bedroom, weatherboard house above the expected price of $560,000 to $620,000.
Buyer’s advocate Tony Slack secured the property for a Geelong couple trying to break into the market.
The kitchen incorporates modern design trends.
McGrath, Geelong agent Will Ainsworth said Belmont continued to attract strong buyer interest.
“The Belmont marketplace is hot to trot and there are so many reasons why,” Mr Ainsworth said.
McGrath, Geelong agent Will Ainsworth. Picture: Mark Wilson
He pointed to this property’s location within the Belmont High School catchment and its renovation as key attractions.
One of two bathrooms at the house.
“It’s one of those ones where the renovation truck arrives and you get carried in on the couch,” he said.
The new owners will enjoy a stylish modern kitchen and a rear living rear flowing out to a large covered deck and kid-friendly backyard with an in-ground trampoline.
Belmont’s median house price sits at $526,000 on the back of 12.4 per cent capital growth in the past year.