Original Belmont home sells $47k over reserve in four-way auction battle

Buyers relocating from Sydney have landed an original Belmont home with a sweet price spot that attracted multiple out-of-town bidders.

The couple paid $797,000 for the four-bedroom brick house at 5 Waurnvale Drive after making a trip to Geelong to inspect it earlier in the week.

They may have been seeking greater affordability, but first had to win a four-way battle that pushed the 746sq m property $47,000 above reserve.

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The four-bedroom house at 5 Waurnvale Drive, Belmont, has changed hands for the first time.

Arched doorways feature throughout the living areas.

It had been advertised with a $700,000 to $770,00 price guide.

McGrath, Geelong agent David Cortous said young couples from Melbourne and Warrnambool, and an investor also threw their hats into the ring at the auction.

“We are seeing a lot more depth in the auctions now,” he said.

“The lower end is probably the most stimulated part of the market right now, first-home buyer and investors are all in that bracket, and they are all pushing pretty hard to secure properties so it’s competitive in that range,” he said.

The original Belmont house was a deceased offered to market for the first time.

The kitchen overlooks the casual meals area.

The main bedroom was ahead of its time with an ensuite and walk-in wardrobe.

Its spacious floorplan includes both formal and informal dining and living areas, an open-plan, solid timber kitchen and a main bedroom suite with an ensuite and walk-in wardrobe.

A single garage, finished with the signature arch of the late 1970s/early 1980s build period, provides secure off-street parking.

“It had great bones and it was completely original,” Mr Cortous said.

“It had one owner and it had a good floorplan and it was just cosmetic updates that were needed, you don’t need to extend the floorplan or change the floorplan.”

The property is just a few minutes’ drive from Waurn Ponds Shopping Centre, Deakin University and the Geelong Ring Road.

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