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The three -bedroom updated house in 27 Ferndale Parade, Highton, was sold for $ 802,000 at an auction.
The lifestyle opportunity presented by an updated house near one of the most active local shopping centers in Geelong attracted a lot of interest, but potential yields provided the cherry cherry for the local buyer.
Four vidders competed for an updated three -bedroom residence in 27 Ferndale Parade, Highton, which is near the Highton Village shopping center.
While buyers of the first house had caused most of the interest in the renewed house of the brick sheet, it was a local investor that finished Saturday’s auction with hand contracts for the property of 538SQ M.
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The updated kitchen has matt black and benchtops cabinets of Corian.
Barry Plant South Barwon agent Matthew Constantine said that 7 70 groups had inspected the house turning the campaign, which ended with a sale price of $ 802,000.
Constantine said the reservation price was $ 765,000.
“That was very renewed with some important updates and then the proximity to the village and the convenience that Provid was convincing for many people,” he said.
“Walking around the corner to the town of Highton and then to the Barwon River too, it was a lifestyle choice for me.”
Constantine said it was an encouraging to see an investor in the property mixture.
“It’s a long -term game,” Constantine said about the purchase.
Incorporated banks create a breakfast corner for informal meals.
The updated house is well presented internally, with updated window furniture and pulled hard wooden boards.
“But they are always guaranteed a treasure of possible tenants in that position and the quality of the accommodation it contains, so the yields will be quite good.
“They are waiting for good growth in that area and I agree.”
A designer kitchen with matt black cabinets, wooden shelves and Corian Benchtops.
Personalized bank seats also created a cozy breakfast corner for informal dinner in the room that separates from the living spaces, a formal room in the front and a family room in the rear.
A renewed style bath is another culminating point in the three bedroom house.
Investors are beginning to have a greater impact on the real estate market, since buyers see the potential of better returns ahead.
The updated bath has floor to ceiling tiles and a shower in situ.
Incorporated cabinets are presented in the rooms.
Investors have been leaving the market in units after the state government increased their land tax and introduced minimum standard measures that have seen the costs of the owners increase.
“People who jump from the market due to the land tax and the like have slowed down a lot,” he said.
“There are many properties that we have sold in the last 18 months that consult ex -rental and that is only bone that pushes the income.
“So that’s where I think the returns return now, because the supply in the rental group is very tight.”