The three-bedroom mid century home at 13 Hamlyn Ave, Hamlyn Heights, was snapped up after less than a week on the market.
An unrenovated mid century house in Hamlyn Heights has sparked a buying frenzy to be snapped up in its first week on the market.
The three-bedroom house at 13 Hamlyn Ave was sold after the first open-home as Maxwell Collins agent Lois Wilson fielded multiple offers on the 645sq m property.
Ms Wilson said the majority of interest in the house came from first-time buyers looking for a sound property where they could add value by renovating.
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A Castlemaine slate mantel surrounds the fireplace.
The clinker brick house occupies a 645sq m block.
The house presents as a mid century time capsule ready for new owners, complete with built-in timber features and original wallpaper.
“It was largely a blank canvas – it was a good, sound house and they loved the mid century modern features, the high ceilings and wide cornices and hardwood floors.”
The property was listed with $645,000 to $685,000 price hopes, but sold for an undisclosed price above $700,000, Ms Wilson said.
“We received multiple offers which took it to the point of tipping into the low $700,000s,” she said.
“But I guess it’s not surprising now that the median price for Hamlyn Heights is now $725,000.
“It was hotly contested and we ended up with an unconditional offer but we’ve got heaps of buyers looking for the Hamlyn Heights and Herne Hill area.”
A Ballarat couple had held the property as an investment for 22 years.
Timber features are evident in the kitchen.
The bathroom is another original feature.
The house offers two living rooms.
Ms Wilson said the latest cut to interest rates had increased competition for homes, driven by owner-occupiers but there are some investors coming in because of how the suburb is performing.
“But the majority are first-time buyers and they’ll nearly pay as much for an unrenovated home than a partially renovated one where they’ll have to undo it.
“They are valuing the area, which has always been a good family area. The ring road is still a big driving force because it’s ideal for commuters.”
Ms Wilson said the 645sq m block size was unheard of in new estates, and the location was “five minutes from everything”.
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