Six bidders push Highton home $70k above reserve

The three-bedroom house at 3-4 Dumfries Court, Highton, sold for $821,000 at auction.

Six bidders did the talking about the changing state of the market as a three-bedroom Highton home earned a $70,000 auction premium.

The 762sq m property at 3-4 Dumfries Court sold for $821,000, crystallising the strong level of interest that emerged during the four-week campaign.

Gartland Geelong agent Will Ainsworth said 118 groups inspected the property, that had been listed with $690,000 to $750,000 price expectations.

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He said the house stood out for potential buyers, drawing a mix of investors, upgrading homebuyers and downsizers.

“It was the old combination of getting the property positioned right price-wise,” Mr Ainsworth said.

“It was presented well and it’s a real niche in the market at the moment in a lot of first-home buyers upgrading, there’s a lot of investors about – who ended up paying to purchase this one – and then some of the mature clients that are looking to downsize from bigger Highton properties to something like this,” he said.

A large bay window is a prominent feature of the living room.

Combined with the kitchen and dining area, the living zone creates a substantial family zone.

“The property immediately across the court which was almost identical in every way sold less than 12 months ago for $775,000, so that was a good benchmark.

“To get $821,000, I guess it’s a sign of the market.”

Highton’s $890,000 median house price is at the same mark recorded the same time last year, according to PropTrack data.

But an injection of particularly investment buyers within that $700,000 to $850,000 bracket has created a rush for properties.

“There was a lot of commentary at the open homes that this is better than the other ones we’ve looked at. That this needs less work or is more structurally sound property,” Mr Ainsworth said.

A covered outdoor area has a built-in pizza oven.

“It’s not like there is not other properties to choose from, it’s that this one stood out in that price range above the others.”

The home last sold for $645,000 in 2019.

The family home is centred around a palatial living room, flowing to a spacious meals and kitchen zone.

Verandas wrap the home for year-round outdoor entertaining, with an enclosed area complete with a built-in wood-fired pizza oven and barbecues.

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