Latest news with #JimCross
News.com.au
6 days ago
- Business
- News.com.au
Geelong West home sells $200k above reserve at hot auction
A three-way auction ended $200,000 above the reserve for a renovated character house with a modern extension in Geelong West. The four-bedroom residence at 136 Autumn St sold for $1.51m at Saturday's auction after the bidders, mainly young families, contested the 519sq m property near Pakington St. McGrath, Geelong director Jim Cross said the successful bidders were relocating to Geelong, having acquiring a business locally. Work starts $10m Highton 'frog hollow' project But a host of young families were keen to secure the double-fronted Victorian residence with a modern extension and backyard pool, Mr Cross said. 'It's probably a sign the market is starting to improve, but also a reflection of the property that was presented beautifully by the owners who gave it every opportunity to achieve a great price,' Mr Cross said. Bidding started at $1.28m – the bottom of the $1.28m to $1.32m guide. The last two bidders in the auction added $100,000 to the price, Mr Cross said. The house presented with a quintessential white picket fence and landscaped gardens, while blending period elegance with modern family living. Features included leadlight windows, Tasmanian oak floorboards and original fireplaces in the original footprint of the house, containing two bedrooms, including the main suite with an ensuite. The modern extension offered spacious open living with expansive north-facing windows looking out to an in-ground swimming pool and leafy garden. The gourmet kitchen featured a long island bench, Smeg, Bosch and Siemens appliances and abundant storage, while a second potential main bedroom or teenage retreat upstairs has its own ensuite and walk-in wardrobe. Mr Cross said the strong interest in the property was a positive sign for an improving market in Geelong. Geelong West's $813,000 median house price is 7.6 per cent below what it was 12 months ago, reflecting the patchy nature of the property market. But Mr Cross said an interest-rate cut could create the perfect storm for a strong spring selling market if it brings more people to list their properties for sale. 'What we're seeing in the market at the moment is it's still patchy but we are seeing signs of improvement in increased buyer inquiry numbers and people through open homes and inspections, and an increased number of genuine buyers in the marketplace on specific properties,' Mr Cross said. 'My gut feeling is that once we get another rate cut, that we will start to see those increased numbers fill out throughout the majority of the market.' Mr Cross said the auction wasn't timed around the rate cut but because the vendors had bought another property. 'I think if we see a rate cut today, that will definitely spur our market on because you feel that market is through the bottom. 'You feel the market improving, but that it's gradual. I think we'll also see an influx of listings coming to market, because there's vendors that have been in a position where they don't need to sell, from a timing point of view, that have been holding off for an improved market.'
News.com.au
09-07-2025
- Business
- News.com.au
How Geelong homebuyers can secure new waterfront views
Geelong's newest addition to the city skyline has a surprise to show. Construction workers continue building the six-storey residential development, Motif, near the end of Mercer St, at the northern entrance to the CBD. The project got off the ground quickly, with 60 per cent of Motif's 37 apartments already snapped up by mainly investment buyers making an early play on the future Geelong growth storey. The opportunity opens now to more buyers to capitalise on the remaining residences and their secret weapon – waterfront views. McGrath Projects director Jim Cross said the remaining apartments to be sold in the project are largely facing to the north and east where they offer panoramic vistas overlooking Corio Bay and central Geelong. Planning guidelines also protect the development from encroachment of the views by limiting the height of properties closer to the water. Mr Cross describes Motif as stylish, modern coastal living right in the heart of Geelong. 'This exclusive collection of one, two, and three-bedroom residences showcases premium finishes, spacious layouts, and private outdoor areas designed for comfort and an elevated lifestyle,' Mr Cross said. 'Select residences offer breathtaking water views, bringing the beauty of the waterfront right to your doorstep.' The York St address is moments from Geelong's waterfront and CBD, blending urban convenience with relaxed coastal charm, he said. Apartment prices start from $575,000, up to a three-bedroom, two-bathroom penthouse listed with $1.65m price hopes. 'It offers exceptional value for first-home buyers, downsizers, and savvy investors alike,' Mr Cross said. The project is scheduled to be completed in the last quarter of 2025, giving buyers a near end date to enjoy elevated coastal living, Mr Cross said. Architects Rothelowman has designed the development with a facade that will fuse rust metal finishes with sand-toned textured concrete. Interiors will have a choice between muted grey tones or bright timber. Many apartments enjoy water views, while a shared rooftop terrace offers an outdoor space for sunset drinks and captures a sweeping outlook over Corio Bay, taking in the expanding CBD all the way to the Sky Wheel and promenade at Eastern Beach. The property's location is close not only to the waterfront and CBD, but within walking distance of Geelong's main train station, and across a footbridge to Geelong West's Pakington St shopping and restaurant strip.
