The chance to secure a four-bedroom house close to schools and shopping with little to do but move in was not lost on three bidders in Belmont.
The trio fought a strong contest for the brick veneer house at 36 Colac Grove, pushing the
price more than $50,000 over the reserve at Saturday’s auction.
Buxton, Highton agent Tony Moorfoot said the Melbourne buyers, who purchased the property through a buyer’s advocate, were looking for an investment but might end up living in the house, which is near Clairvaux Catholic Primary School and McDonald Reserve and a short drive to Waurn Ponds shopping centre.
“It started at $500,000 and we had the reserve at $550,000,” Mr Moorfoot said.
“We sold it for $610,000.”
The competition helped the sale price eclipse the most recent post-$500,000 sale at number 27 Colac Grove last December.
“It was a really good auction — two fought through and one jumped in at the end.
“It’s a good location, around the corner from Clairvaux, around the corner from Highton and it’s close to Waurn Ponds.”
Mr Moorfoot said investors and owner occupiers had looked at the house, which had four bedrooms, two bathrooms and three living areas.
“I think the investment in the location was probably the attraction for it,” he said.
“Geographically it’s in a good spot — close to schools, Waurn Ponds, and close to Highton.
“This one may even live in it. It’s really neat and tidy, all the hard work was done.”
The sale price is above Belmont’s median house price of $531,000, which has climbed more than 40 per cent in the past five years, according to CoreLogic.