Sold: 2B Norman Court, Highton
The work required to bring an original mid century Highton house up scratch by modern standards proved a bridge too far for hopeful, budget-conscious first-home buyers.
The solid, three-bedroom clinker brick house at 2B Norman Court sold for $745,000 as an investor from Sydney edged out several potential buyers for the 617sq m property in central Highton.
Ray White Highton agent George Politis said the buyer is moving quickly to update the house, which sold just below the $750,000 to $800,000 advertised range.
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“We had a couple first-home buyers showing really good interest in the first place, but just through the amount of work that it needed doing, that’s where it ended up,” Mr Politis said.
The property could hit the rental market in a matter of months.
“They’re about to start their works on it pretty quickly,” Mr Politis said.
“They were really happy with the location, they’re happy with the style of the property itself as well. But just what’s in that area that’s obviously the growth corridor for Highton and being walking distance to the shops, schools and everything like that,” he said.
The home features double glass doors between the dining and lounge rooms, where a slate stone mantel and decorative cornices are also highlights.
It’s likely the new owners will concentrate on the bathroom and kitchen, Mr Politis said.
“They will freshen it up internally,” he said.
“There’s a couple of houses in that court that have been renovated in the past that are actually sensational, so it’s easy to do this and that, and know it’ll cost you this, and at least you’re not going to overcapitalise with it in that sense.
“But where the positivity came from was the location.
“We had decent numbers, probably about 25 groups in about three or four weeks.
The retro kitchen is likely to be one of the targeted rooms in the new owner’s renovation.
“So the numbers were pretty solid, but it was just a matter of obviously getting it, just getting the price that we were obviously happy to achieve.”
The property is in the middle of Highton, where the median house price is $895,000 and a typical house commands a median asking rent of $595 a week, according to PropTrack.
The home was on the market for the first time.
The house offered a light-filled living room with large windows and a stone fireplace, with double glass doors opening to the adjoining dining area.
The 617sq m property has a big backyard.
The original kitchen retains its retro charm, while all the bedrooms offered built-in wardrobes.
Mr Politis said the sale to an interstate investor comes as buyers look to beat an August 10 deadline to purchase a property as a retirement nest egg through a self-managed super fund.
That’s the deadline set after the federal government closed an investor loophole, banning people borrowing to acquire an established property using a self-managed superannuation fund.
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