East Geelong House Nets $ 180k profit in fast sale – realestate.com.au

Sellers have made a considerable win on a house with double advocated from the Victorian era in East Geelong that they had a little more than a year.

The real estate of 353 m² at 21 Thorne ST, East Geelong, sold for $ 1.08 million at the Saturday auction.

Jellis Craig Geelong -agent Marcus Falconer said that two bidders have disputed the property at the auction, with a professional couple who ran away with the contracts.

The character home that was last sold for $ 900,000 at the end of 2023 was for sale with a price manual of $ 1.28 million to $ 1.32 million.

RELATED: Work starts $ 10 million Highton ‘Frog Hollow’ project

Saddle up for Dream Equestrian Estate on Bellarine

Wallpaper ‘Groupie’ reveals Grand Newtown Makeover

Mr. Falconer said that the owners had updated the kitchen in the house with three bedrooms, but the increase in value was also a sign of an improving market.

The East Geelong real estate market was among the most affected by the decline after the Pandemic Tree, with a decrease of 15.8 percent in the median house price over three years to $ 788,750, according to new proptrack data.

But in the last 12 months, the median house price of the suburb has risen 2.4 percent, or almost $ 20,000 in a sign that the market is improving.

Built -in cupboards and bookshelves, polished floor plates and open fireplaces are a function in the living room.

---

The Shaker style kitchen is a recent update in the house.

---

Mr. Falconer said that the buyers had already moved to Geelong and had experienced the area.

“They have been renting the area for a few years now,” said Mr. Falconer.

“They are a professional couple who moved to the city and access to the botanical gardens and the waterfront was probably one of the most important factors in the village, only from a lifestyle perspective.”

The character Home is located in the Golden Triangle of the suburb, with the benefits of the outskirts of the city, such as walking access to the village of East Geelong, the Botanic Gardens, Eastern Beach and the CBD.

The restored heritage façade contained a bullnose veranda and insellated tiles, with a renovation that created an open living zone and previously updated the bathroom.

The frame -free shower and detached bath function in the updated bathroom.

---

The real estate of 353 m² has a spacious back garden.

---

“In principle, this owner has just updated the kitchen and gave it their own twist,” said Mr. Falconer.

“The previous owner had only bought it about a year ago and sold it for profit.

“It’s a sign of how well the market goes.”

The Shaker style kitchen has a classic farm butler’s gutter, English tapware, an Asko oven and American oak benchtops.

The house has wood planting shutters to filter lightly and offer privacy in the headrooms. The sitting room contains built -in cupboards and bookshelves, a steel grid fire, polished wooden floors and menstrual cutting effects.