East Geelong family beats city buyer to $1m-plus home at auction

71 Normanby St, East Geelong has sold for $1.15m. One benefit from a downturn in confidence in the property market is that real estate agents can find themselves dealing with more qualified buyers who in a position to purchase. Jellis Craig Geelong agent Jack Cassin said he found a good depth of qualified buyers during the campaign to sell a renovated, five-bedroom house at 71 Normanby St, East Geelong. Mr Cassin said two bidders contested the auction for the 453sq m property, with an East Geelong family outbidding a Melbourne party to secure the contracts for $1.15m. RELATED: Wild ’70s ‘Vegas bathroom’ stars at retro reno $115k home now a $1.2m prize after 35-year wait Young couple buys East Geelong house in search for lifestyle change It was a rare auction success this winter where the qualities of the individual property has had more influence in determining the depth of interest. The volume of properties going to auction in Geelong has plummeted amid falling confidence in the property market in the face of three interest rate rises this year. REA Group data shows out of nearly 3350 properties on the market in the Geelong region, just 21 were auction campaigns. The property had ...