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As seen in the Source link, written by realestate.com.au on 2019-12-02 00:00:00

Agents Shaun Carroll, left and Eugene Carroll, calls the auction at Verner St, South Geelong.

An investor couple said they felt sorry for the young homebuyers who missed out on a South Geelong property at an auction on Saturday.

The Drysdale buyers paid $688,000 for the Victorian era house opposite South Geelong train station.

Three bidders participated in Saturday’s auction, which opened at $600,000 and ultimately pushed the sale price $48,000 above the reserve.

Dianne, the buyer, was the third bidder for the property opposite South Geelong train station. 32 Verner St, South Geelong.

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Maxwell Collins, Geelong auctioneer Shaun Carroll declared the four-bedroom house at 32 Verner St was on the market as the price hit $640,000.

The buyers plan to rent it out, but it could become part of relocation plans in the future.

There were three bidders for the property opposite South Geelong train station.

“We’re going to rent it out,” buyer Dianne said.

“I feel so sorry for some of the new home buyers,” she said.

“We live in Drysdale and we’re looking for an investment property but we might move into it one day and do it up.

“I love the position, I live the style of the house and the fact that it’s got a lot of potential for the future so that when we don’t want to live that far away we can come and do a bit of a renovation and we’ll have Melbourne just up the road, it’s so easy.”

32 Verner St, South Geelong.

One of the underbidders came to congratulate the buyers, also expressing sorrow for pushing the price higher in a tussle over the keys.

The house was the only property on the market in South Geelong on Saturday.

“We have a classic Victorian weatherboard full of potential with high ceilings, polished boards and stained glass windows,” Mr Carroll said.

“There’s four bedrooms, three with built-in robes, the kitchen and dining area has gas cooking.”

32 Verner St, South Geelong, sold for $688,000.

A side laneway lead to a single garage and car port at the rear of the property.

South Geelong is traditionally a tight property market, with CoreLogic recording 25 sales in the past 12 months.

The suburb is great for commuters and for families wanting to be close to schools, pubs and coffee shops in Kilgour St or the city, and is near GMHBA Stadium.

The $676,000 median house price has climbed more than 43 per cent in the past five years.

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