The home at 46 Candover St, Geelong West, sold for $1.16m after auction.
The rising value of high-end properties in Geelong’s best inner city streets is raising the bar buyers to enter these pockets.
A four-bedroom character home at 46 Candover St, Geelong West, sold last weekend for $1.16m, but a nearby homes how the far the new owners could reasonably raise the value of the home through future renovation.
“It was an interesting auction,” Jellis Craig Geelong selling agent Jeff Begg said.
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“We didn’t generate a bid and then after the fact we had two interested buyers approach us.”
One of those buyers made an offer and secured the property for $1.16m, above of $1.05m to $1.15m quoted range for the property
Mr Begg said the location was the main attraction.
“It’s an awesome spot, but the house just offered loads of potential,” he said.
“It was comfortable, it was neat but it’s one that you’d renovate. So the interested buyers will live in it and then renovate it down the track.
“They can see the scope and the value in it.”
The front lounge room has an open fireplace, exposed brick chimney and high ceilings.
The kitchen and dining area opens to the back yard.
Parking space opens from a rear lane at the back of the property.
Candover St, between Pakington St and Geelong’s CBD, offers plenty of examples of high-end homes that have achieved sale prices between $1.775m up to $2.1m.
“We sold one two doors up for just under $2m a couple of months ago, so it offered an opportunity to get into absolute blue chip Geelong West at an affordable price into a product that was OK but something that you could turn into something pretty special.
“In my opinion it’s one of the better streets in Geelong West and we’ve had some really strong sales in that street.”
The 544sq m property has rear lane access via a wide roller door.
The five-bedroom house at 42 Candover St, Geelong West, sold for $1.9m in February.
This home holds the top sale price in Candover St.
The house has an original layout at the front where there are three bedrooms and a lounge room or fourth bedroom.
The previously renovated area at the back of the house offers a living room, bathroom, dining room and kitchen all leading to a rear pergola and deck.
Candover St achieved its first $1m sale in 2017, but the top end now sits around $2m.
A renovated five-bedroom house at 42 Candover St sold after auction in February for $1.9m.
The home was described as the deluxe model, blending the period details of the original Victorian era house with a modern extension and concertina doors expanding living space to an outdoor area. It was on a similar sized block.
Records show the top price is a five-bedroom renovated character home at number 37, which sold for $2.1m in 2023, beating its previous sale of $1.907m just two years prior.
PropTrack figures show the median house price in Geelong West is $859,000.
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