Two bidders a remarkable result as blue chip home sells at auction

The four-bedroom house at 87 Fairview Ave, Newtown, sold at auction for with $1.79m.

A swimming pool and spa that still leaves plenty of yard space were the centre of the attraction of a renovated character home in a blue-chip Newtown position.

The spacious four-bedroom house at 87 Fairview Ave, Newtown, sold for $1.79m after the two parties wrested for the 692sq m corner property at an auction.

The result was nearly midway through the $1.75m to $1.85m expectations for the residence that last sold in 2011.

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Whitford Newtown agent John Moran said the under the hammer sale shows things are looking up for the suburb with the biggest number of higher-end properties within Geelong.

“It’s picking up, which is good. It’s been a lean couple of years,” Mr Moran said.

“To sell in that price range with competitive bidding, it shows things are improving.”

Bidding opened at $1.65m for the property which last sold for $815,000 after its renovation.

“Obviously it was a good sized block with the pool and the spa and still plenty of rear yard,” Mr Moran said.

The home retained character elements such as timber fretwork.

The main open-plan living area combined dining, lounge and kitchen zones, with high windows, a wood heater and steps out to a balcony.

“It was a good sized family home with four bedrooms and study, two bathrooms and a couple of living areas.”

A local buyer landed the home, beating a hopeful bidder from Melbourne, he said.

The property would have keen entertainers in their element in one of Geelong’s most prized residential neighbourhoods.

Fairview Ave runs to Pakington St, where the Newtown shopping strip is a popular destination for shopping and eating out.

The weatherboard character home combines modern living spaces with an inviting outdoor area centred on a swimming pool, spa and decked patio with built-in barbecue.

A covered outdoor entertainment space serves both the pool deck and spacious lawn area.

A formal lounge room space is one of two living rooms on offer.

Inside, polished timber floors feature throughout the main living area, where an open-plan layout connects the kitchen, dining and lounge zones.

The kitchen includes stone benchtops and stainless-steel cooking appliances.

A second lounge with a feature fireplace provides another breakout space on the entry level, while a large rumpus room brings added flexibility upstairs.

Newtown’s median house price gained seven per cent in the past three months, despite a fall of 10 per cent over the year, PropTrack data.

But time on market figures show signs of improvement in the suburb where the median price is $1.08m.

It took a median 51 days to find a buyer for a house in Newtown, according to data for sales over the past 12 months.

That’s a 23 per cent faster compared to the same period last year.

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