Rising times for Belmont pocket amid $70K auction bonus

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18 Boolarong Drive, Belmont, sold for $730,000.


The stars are rising for homeowners in an east Belmont pocket as buyers widen their search to break in to the property market.

A renovated three-bedroom house at 18 Boolarong Dr, Belmont, was snapped up for $735,000 at auction on Saturday.

An investor secured the 659sq m property, which had been offered with price expectations from $620,000 to $660,000.

RELATED: Big bidding for Highton home with basketball court

Geelong sellers see double as property bubble grows

New $250m plan for Geelong hotel, shops, apartments

Barry Plant, Highton agent Matthew Hunt said first-home buyers were also in the hunt for the house, which presented a ready-made opportunity for a buying group that will often jump at the chance to avoid purchasing a renovator to sink more money in to.

18 Boolarong Drive, Belmont, sold for $730,000.


Belmont’s median house price has risen more than 15 per cent in the past year to $740,000, turning many people to search the suburb’s fringes for a more affordable opportunity.

Three bidders contested last Saturday’s auction after Mr Hunt had opened with a vendor bid just below $600,000.

“Two groups went head-to-head and then it stalled,” he said.

“And then a third party jumped in and the other two went head-to-head to get it up to $730,000.

18 Boolarong Drive, Belmont, sold for $730,000.


Mr Hunt said the 659sq m block size was an attraction to buyers.

“It had been renovated, which is a bit of a bonus, saving people from having to do any major works in the short term,” he said.

“For a first-home buyer it was move-in ready and for an investor that just wanted to have a set-and-forget type plan, the property featured well for that.”

The property had been extended in 2013, with updates to the kitchen, bathroom, laundry and creating a modern open-plan living zone.

18 Boolarong Drive, Belmont, sold for $730,000.


Though properties in the area are tightly held, six properties have now sold for a price above $700,000.

Last week, four bidders contested a house at nearby Poplar Court, pushing the sale price of the renovated residence to $825,000.

“That’s due potentially to the lack of stock on the market and that people have to widen their search ranges due to how competitive it still is,” Mr Hunt said.

The agent sold a second Belmont property at 2/26 Roslyn Rd for $613,000. Four bidders contested that auction.

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https://www.realestate.com.au/news/rising-times-for-belmont-pocket-amid-70k-auction-bonus/

18 Boolarong Drive, Belmont, sold for $730,000.


The stars are rising for homeowners in an east Belmont pocket as buyers widen their search to break in to the property market.

A renovated three-bedroom house at 18 Boolarong Dr, Belmont, was snapped up for $735,000 at auction on Saturday.

An investor secured the 659sq m property, which had been offered with price expectations from $620,000 to $660,000.

RELATED: Big bidding for Highton home with basketball court

Geelong sellers see double as property bubble grows

New $250m plan for Geelong hotel, shops, apartments

Barry Plant, Highton agent Matthew Hunt said first-home buyers were also in the hunt for the house, which presented a ready-made opportunity for a buying group that will often jump at the chance to avoid purchasing a renovator to sink more money in to.

18 Boolarong Drive, Belmont, sold for $730,000.


Belmont’s median house price has risen more than 15 per cent in the past year to $740,000, turning many people to search the suburb’s fringes for a more affordable opportunity.

Three bidders contested last Saturday’s auction after Mr Hunt had opened with a vendor bid just below $600,000.

“Two groups went head-to-head and then it stalled,” he said.

“And then a third party jumped in and the other two went head-to-head to get it up to $730,000.

18 Boolarong Drive, Belmont, sold for $730,000.


Mr Hunt said the 659sq m block size was an attraction to buyers.

“It had been renovated, which is a bit of a bonus, saving people from having to do any major works in the short term,” he said.

“For a first-home buyer it was move-in ready and for an investor that just wanted to have a set-and-forget type plan, the property featured well for that.”

The property had been extended in 2013, with updates to the kitchen, bathroom, laundry and creating a modern open-plan living zone.

18 Boolarong Drive, Belmont, sold for $730,000.


Though properties in the area are tightly held, six properties have now sold for a price above $700,000.

Last week, four bidders contested a house at nearby Poplar Court, pushing the sale price of the renovated residence to $825,000.

“That’s due potentially to the lack of stock on the market and that people have to widen their search ranges due to how competitive it still is,” Mr Hunt said.

The agent sold a second Belmont property at 2/26 Roslyn Rd for $613,000. Four bidders contested that auction.

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