Latest news with #MichelleWinckle
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
16-05-2025
- Business
- News.com.au
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. 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.
