This weatherboard house at 124 Wilsons Rd, Newcomb attracted investors and first-home buyers.
CAPITAL growth of almost 30 per cent in Newcomb over the past year continues to attract strong investor interest.
One such buyer snapped up a rare Edwardian weatherboard house at 124 Wilsons Rd, Newcomb for $525,000 at auction on Saturday.
The kitchen blends old and new.
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Their pockets proved too deep for the underbidders, first-home buyers looking for an affordable entry into the housing market.
The price for the renovated three-bedroom house was well above the $440,000 to $480,000 expected range.
McGrath, Geelong agent David McGuinness said there were four parties interested in bidding but only two put their hand up on the day.
He said Newcomb remained attractive to investors, with the character of the house adding an extra layer of appeal.
“Capital growth has been up towards 30 per cent in the last year,” Mr McGuinness said.
“It is cheap with plenty of upswing.”
Newcomb’s median house price has hit $425,000, according to CoreLogic.