The four-bedroom home at 133 Vines Rd, Hamlyn Heights, sold for $745,000.
Geelong’s middle-ring suburbs remain fertile ground for first-home buyers seeking to get their foot on the property ladder.
But there is competition, as buyers competed against each other for an even bigger opportunity with a four-bedroom residence in Hamlyn Heights.
The triple-fronted weatherboard house at 133 Vines Rd was snapped up for $745,000 as two first-time buyers took the frontrunning for the 728sq m opportunity near the suburb’s main shopping strip.
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Gartland Geelong agent Michael Tricarico said several builders had also eyed off the opportunity to redevelop the substantial allotment, as many others have already done in the western suburb, but ultimately deferred to the young homebuyers seeking their chance in the market.
Mr Tricarico said the size of the block and the actual size of the house itself were attractions for buyers.
The traditional triple-fronted house had four bedrooms – each with built-in wardrobes – along with two living areas in front and behind the kitchen and dining area.
The front living room has large windows and a decorative fireplace.
The open kitchen and dining area joins a family zone at the rear of the house.
“It wasn’t a big home, but was definitely wasn’t a small home either but there was enough scope there for first-home buyers that traditionally get their first home, go to a second home and potentially a third home that’s their forever home. This one probably allows them to skip a step or two.
“There was scope to live in it as-is. It just provided a few different options for people.”
A covered rear patio overlooked the deep backyard with a substantial lawn area.
Mr Tricarico had listed the property with a $700,000 to $750,000 guide.
He said the condition of the home, where a previous owner had upgraded over time, meant the property wasn’t being offered in original condition.
The bathroom is placed at the centre of the house.
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Each bedroom has built-in wardrobes.
It’s a first-home buyers market through that Hamlyn Heights area because there’s so much on offer there now in terms of the shops along Vines Rd, you’ve got Minerva Rd shops close by and schools – public and private, primary and secondary.”
The house last sold in 2017 for $500,000 and had been rental property.
Hamlyn Heights has seen a significant rise in the number of houses changing hands this year, contributing to a 5.3 per cent increase in the median house price, PropTrack data shows.
The median house price is now $733,000 in Hamlyn Heights, slightly below the more central and more fancied Herne Hill ($755,000), but above other middle ring suburbs such as Grovedale, Newcomb and Belmont.
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