Young couple snaps up Geelong West home at mortgagee auction

4 Elizabeth St, Geelong West, sold under the hammer at auction. Buyers have swooped on a mortgagee auction in Geelong West, picking up a four-bedroom character house for almost $350,000 less than it sold for in 2021. A big spring auction crowd turned out to see two young couples go head-to-head for 4 Elizabeth St. The substantial Victorian-era home, which had previously been renovated, sold under the hammer for $1.011m. RELATED: Couple faces losing home over $30k bill ‘Intriguing’: Inside $3.2m Bellarine lifestyle haven New Vic home selling laws arriving early The result was within the $960,000 to $1.055m asking range, but fell well short of the $1.36m the previous owners paid for the house during the Covid peak. McGrath, Geelong agent David Cortous said its condition had deteriorated since then, with extra money needing to be spent to bring the property back up to scratch. The prospect of bagging a bargain attracted about 100 groups during the campaign, which translated into a strong auction day attendance. “I have not seen those types of crowds for a long time so that was encouraging,” Mr Cortous said. “Obviously the property sold for less than what it sold for last time around b...