Latest news with #Highton
News.com.au
3 days ago
- Business
- News.com.au
1960s Highton original gives buyer the chance to unlock value
New owners have found a way to unlock the value in the popularity of a Highton riverside pocket after beating three other bidders to a mid-century home at an auction. There was plenty of interest in the four-bedroom residence at 8 Cara Rd from a mix of buyers, including some looking to turn the house into the 'forever home', Hayeswinckle, Highton agent Michelle Winckle said. But two bidders who saw the potential to capitalise from subdividing the corner block ultimately showed their deeper pockets at Saturday's auction. 'There was four bidders – the last two, that fought it out at the end, turned up on the day,' Ms Winckle said. 'Two of them were looking at for a family home – a forever home,' she said. 'And then the other two were looking at potentially buying it, living in the house, and then subdividing the back.' The latter pair duked it out to the end at Saturday's auction, when the property sold for $862,000. The 842sq m property had been listed with price hopes from $790,000 to $850,000 and sold on a weekend when there was a large amount of buyers in the mix for Geelong properties. 'Homes in good locations – if the vendors are reasonable with their reserve – they will sell,' Ms Winckle explained about the auction. 'It's just about listening to the market and adapting to the market,' she said. 'And, if you're in a good location, I find that all the auction we've done have sold. It's still a very good auction market.' The more than 60-year-old solid brick house hit the market for the first time at Saturday's auction. Ms Winckle said it was a rare property in today's market, as most in the area had already been sold or renovated. The opportunity to renovate, extend or subdivide was the home's main redeeming feature for buyers, she said. The house has two living areas courtesy of a previous extension providing a fourth bedroom and living room behind a carport with direct internal access to the main home. The position of the house leaves a substantial portion at the rear of the block with side access to Bruthen Rd for a second residence, subject to council approvals. There was plenty of original features on show inside, such as the slate mantel surrounding the heater in the loungeroom and the original kitchen cabinets. Cara Rd runs between Mt Pleasant Rd and Barwon Boulevard, opposite Barwon River parkland.
News.com.au
19-05-2025
- Business
- News.com.au
Why upgrading a home can offer more than a better lifestyle
The lifestyle opportunity presented by an updated house near one of Geelong's busiest local shopping hubs attracted a wealth of interest, but the potential returns provided the icing on the cake for the local homebuyer. Four bidders vied for an updated, three-bedroom residence at 27 Ferndale Parade, Highton, which is close to the Highton Village shopping centre. While first-home buyers provided the bulk of the interest in the renovated brick veneer house, it was a local investor who ended Saturday's auction with contracts in hand for the 538sq m property. Barry Plant South Barwon agent Matthew Constantine said about 70 groups had inspected the home during the campaign, which finished with a $802,000 sale price. Mr Constantine said the reserve price was $765,000. 'That was very well renovated with some major updates and then the proximity to the village and the convenience that provided was compelling for a lot of people,' he said. 'To walk around the corner to Highton Village and then down to the Barwon River as well, it was very much a lifestyle choice to me.' Mr Constantine said it was encouraging to see an investor in the mix for the property. 'It's very much a long-term game,' Mr Constantine said of the purchase. 'But they're always going to be guaranteed a treasure trove of potential tenants in that position and the quality of the accommodation it contains so the returns will be pretty good. 'They're expecting good growth in that area and I certain agree.' A designer kitchen featuring matt black cabinetry, timber shelving and Corian benchtops. Custom bench seating also created a cosy breakfast nook for casual dining in the room which separates to living spaces – a formal lounge at the front and a family room at the rear. A stylishly renovated bathroom is another highlight in the three-bedroom house. Investors are starting to make more of an impact on the property market as buyers see the potential for better returns ahead. Investors have been getting out of the market in droves after the state government increased its land tax take and introduced minimum standard measures that have seen owners costs rising. 'The people jumping out of the market because of land tax and the like has very much slowed down,' he said. 'There's a lot of property that we've sold in the last 18 months that is considered ex-rental stock and that's only been pushing the rents up. 'So that's where I think the returns are coming back now, because the supply in the rental pool is so tight.'
Herald Sun
16-05-2025
- Business
- Herald Sun
Geelong suburbs where sellers home prices hold or fold revealed
Fresh data has revealed the Geelong suburbs where buyers or sellers have the upper hand when it comes to sticking to their guns on price expectations. The PropTrack figures for vendor discounting – where homes sold by private treaty saw the biggest drop between the original advertised price and what buyers ultimately agree to pay – reveals the suburbs where buyers are able to negotiate the best deals. Coastal areas remained the best buyers' markets over the past 12 months, with prices sliding a median 8.3 per cent in Anglesea and Point Lonsdale between listing and sale, and close to 8 per cent in Portarlington and Barwon Heads. RELATED: Geelong's next $1m suburbs, emerging areas revealed Andrew Winter: Looming rate cuts to push up home prices Bidders love for bold Geelong renovation rewards sellers Barwon Heads has experienced an overall 20.7 per cent drop in median house price in 12 months to May (to $1.42m), PropTrack data shows, with the vendor discounting data showing sellers continue to grapple with where value sits in the Bellarine Peninsula hot spot. Pricing homes proved more stable across urban Geelong, with discounting most prevalent across the expensive inner suburbs, especially central Geelong, but also Manifold Heights, Newtown and Geelong West. Prices ebbed the most for central Geelong apartments, with a 5.7 per cent median discount between listing and sale. Sellers had it best in areas such as Armstrong Creek, Belmont, Corio, Grovedale, Lara and Newcomb, where the PropTrack data recorded a median vendor discount of zero. Hayeswinckle, Highton director Michelle Winckle said discounting price guides was more prevalent in more expensive inner suburbs where there were fewer buyers competing for homes. The data shows prices were most stable in Geelong's northern and southern suburbs. 'It's at a lower level where there's more people competing,' she said. Geelong's property market has endured a turbulent 24 months, with prices overall trending down until recently. Ms Winckle said price expectations were often changed to make homes more competitive in the marketplace. 'You often don't know until you've started a campaign and it's just not grabbing the market, so it needs to be adjusted,' Ms Winckle said. 'Quite often, it can still sell at what they originally wanted. It's just about changing up the strategy.' Buyers advocate Michael Ramsay said more properties were selling in coastal markets since interest rates were cut, though there were still examples of homes being listed at prices well above what the market considered fair. That was a sign that prices guides were getting closer to buyers expectations compared to the start of the year, Mr Ramsay said. SuburbData analyst Jeremy Sheppard said there's a correlation between higher discounts and softer demand. Buying in an area where vendors were accepting offers well below list prices often came with a downside, Mr Sheppard said. 'Bargain hunting is great if you're simply seeking a roof over your head and you plan to stay in the property for 20 years, but from an investment point of view it's not always good,' he said. '(In a high discount area) you'd have to be confident that you wouldn't need to sell for some time as it will be more difficult for sellers … if you're holding for the long term, this won't be an issue as the market will eventually balance out. All areas will eventually grow if given enough time.' GEELONG MEDIAN VENDOR DISCOUNT FIGURES Suburb Property type Median sale price Median vendor discount Point Lonsdale H $1,207,500 -8.3 Anglesea H $1,350,000 -8.3 Portarlington H $863,500 -7.9 Barwon Heads H $1,420,000 -7.8 Jan Juc H $1,270,000 -5.9 St Leonards H $720,000 -5.8 Geelong U $615,000 -5.7 Ocean Grove U $741,000 -5.4 Winchelsea H $650,000 -5.1 Geelong H $880,000 -4.4 Torquay H $1,175,000 -3.6 Newtown U $575,000 -3.4 Manifold Heights H $1,260,000 -3.1 Newtown H $1,150,000 -2.7 Ocean Grove H $955,000 -2.6 Geelong West H $850,000 -1.8 Drysdale H $710,000 -1.3 Lara U $447,500 -1.3 Belmont U $538,000 -1.1 Norlane H $451,000 -1 Grovedale U $496,250 -1 Highton H $861,000 -0.9 Clifton Springs H $652,600 -0.9 Leopold H $650,000 -0.7 Bannockburn H $785,000 -0.7 Hamlyn Heights H $720,000 -0.6 Herne Hill U $368,000 -0.6 Wandana Heights H $925,000 -0.5 Marshall H $630,000 -0.1 Armstrong Creek H $650,000 0 Lara H $680,000 0 Corio H $490,000 0 Belmont H $700,000 0 Mount Duneed H $700,000 0 Grovedale H $663,000 0 Charlemont H $615,500 0 Highton U $500,000 0 Bell Post Hill H $660,000 0 Bell Park H $611,000 0 Curlewis H $638,250 0 Newcomb H $550,000 0 Waurn Ponds H $765,500 0 St Albans Park H $585,000 0 Whittington H $529,000 0 Herne Hill H $700,000 0 North Geelong H $610,000 0 Geelong West U $387,500 0 East Geelong H $765,000 0 Hamlyn Heights U $530,750 0 Thomson H $512,500 0 Lovely Banks H $840,000 0 Source: PropTrack. Median vendor discount for homes sold in 12 months to May 2025. Excludes suburbs with less than 30 sales.
News.com.au
12-05-2025
- Business
- News.com.au
Belmont home beats $1m amid family attraction for buyers
A renovated Belmont house is changing rooms in more ways than one as owners who took the home from bachelor pad to family paradise move to a bigger residence. A couple looking to downsize to be closer to family secured the three-bedroom house at 38 Oxford St in a deal worth just over $1m. Hayeswinckle, Highton agent Michelle Winckle said the property was passed in for $915,000 before negotiations with the buyers. 'The buyers were an older couple that were downsizing to be with family,' Ms Winckle said. 'It was really beautiful story – they all went out for lunch at the Belmont Hotel after the auction. 'Everyone was really happy, the buyers the sellers are upsizing and the buyers are downsizing.' She said another hopeful buyer was looking on but was unable to bid at Saturday's auction, having yet to find a buyer for their own house first. The 596sq m property sold for $1.007m. The location drew the sellers from Melbourne to the address in the first place, given it's walking distance to High St, the Barwon River and local schools. And family drew the next owners also, Ms Winckle said. The property has an oversized shed at the rear of the as a gym and playroom, with a table tennis table often set up. The 6.5m by 8.9m former garage with double remote-controlled roller doors also incorporates a home office. A new roof, front porch and modern exterior colour scheme are among other improvements to the updated house. Polished solid timber flooring flows from the entry through to the main open-plan living room at the rear where a wide wraparound deck invites outdoor entertaining. Sliding and french doors connect the kitchen, dining and lounge area to the back garden, making it easy to keep an eye on kids playing while you prepare dinner. The contemporary kitchen features a breakfast bar, 900mm gas cooktop, underbench oven and a walk-in pantry. A front room has been a handy second lounge for the family, housing its piano. It sits opposite the main bedroom suite, with a walk-in wardrobe and ensuite as well as split system airconditioning. Another family bathroom with a corner spa services two further bedrooms with built-in wardrobes. Other features include a 5kW solar system, a security system, window locks and flyscreens throughout.
News.com.au
12-05-2025
- Business
- News.com.au
Modernist Highton home scores $110k bonus, selling for the first time since 1964
Devotees of Mid-Century architecture are proving to be large in number and deep in pocket with a classic Highton home selling for more than $100,000 above price hopes. The three top bidders for a four-bedroom Mid-Century classic selling for the first time in Highton's Reigate Rd were in the industry, with the two underbidders both architects, McGrath, Geelong agent Tom Harrison said after Saturday's auction. The two-storey home at 66 Reigate Rd sold for $960,000 after five bidders raised a hand for the residence designed by Walter Hodgson, built by his family and selling for the first time since 1964. Mr Harrison said after a slow start, the competition for the home intensified at the auction called by McGrath Geelong director David Cortous. And once contracts were signed, the family and buyers continued chatting about what's next for the beautifully presented mid century residence. 'It was going to be popular just based on the rarity of it and we ended up having five groups put their hand up,' Mr Harrison said. The number one reason for the home's popularity was its mid-century architecture, he said. 'The best two of three auctions we've had have been mid-century homes. Both campaigns had 100-plus groups through. 'It's just that style, and with this one the facade was super-unique with floor to ceiling windows the whole way across, a triple garage underneath and a double carport at the back. And it was Reigate Rd.' Mr Harrison said the buyers first saw the property while it was featured on a mid century architecture Instagram page. 'That's where they first saw it, then they go on and just got all that exposure because it was super unique. The green carpet, the straw ceiling and the cool story behind it.' The untouched mid century was a true time capsule which the original owner's family pitched in to finish while he was away overseas is selling for the first time in Highton. The custom 1964 house was designed by local architect Walter Hodgson, who was also responsible for Belmont's Buena Vista motel. Mr Harrison said the buyers don't expect to change much. 'They just want to modernise what they need to and keep the rest,' he said. The beautifully preserved interior avoids artificial materials, instead showcasing natural materials such as the pressed straw ceiling, solid blackwood internal doors and alpine ash walls. The owner's son said the house was a labour of love for his engineer father who spent several months working in Mexico during the build but stayed intensively involved through long, detailed letters. He said his parents were attracted to the elevated site's panoramic views over Geelong and the opportunity to incorporate a large garage space where they could restore vintage cars. The original kitchen retains ceiling-mounted cabinetry and floor-to-ceiling windows across both the front and back of the house remain. The family member said a carport had been added for ease of access but nothing had changed inside apart from the hardwood floors now being carpeted.
