East Geelong’s Golden Triangle scores big for renovation plans

315 Myers St, East Geelong.

Going on foot around a neighbourhood can help buyers unearth a few hidden gems and cement decisions to buy a property.

Amenities in the neighbourhood scored highly for the buyers of a three-bedroom character home at 315 Myers St, East Geelong.

The weatherboard house sold for $820,000 prior to auction last week.

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Buxton agent Jarrod Leonard said a couple of buyers were in the hunt for the house that was on the market for the first time in 45 years.

“It got to a level where we felt there wasn’t much in it. We had a couple of buyers make an offer in the end,” he said.

315 Myers St, East Geelong.

The property had been listed with price hopes from $800,000 to $850,000.

Mr Leonard said the buyer is looking to undertake a full renovation of the house.

“It was very much a location purchase, being in the Golden Triangle of East Geelong,” he said.

“They were all young couples, but this buyer was a little bit more advanced in her ability to pay that bit more.

“For that part of the world it’s very much entry level.

315 Myers St, East Geelong.

“The buyer that purchased it realised that things that had a bit more work done were out of her budget, whereas this offered the best opportunity get in for her and her family to be in.

“Long term, she’ll find that whatever she does to the property will majorly improve it and she’ll reap the benefits as she goes on.”

Mr Leonard described it as a location-centric purchase.

“The proximity to the gardens, the waterfront, the train station and the fruit market and shops around here. She was very motivated about that location.”

315 Myers St, East Geelong.

Mr Leonard said learning about a neighbourhood involved more than reading a map.

“There are still hidden gems – a lot of people will come down and know it’s a good area from what they see and read.

“But, it’s leaving the car in Myers St and going for walk and going wow that were some really good shops that they didn’t know about.

“The fruit market, the cafes that have popped in East Geelong, and all those things that they didn’t know were on their doorstep.

315 Myers St, East Geelong.

It adds another layer of reasoning for someone wanting to buy in this area.”

East Geelong’s median house price has jumped 15 per cent in the 12 months to $935,000, PropTrack data shows.

But it remains one of the city’s most tightly-held market, with most properties traded in the past 12 months held for an average of more than 12 years.

The post East Geelong’s Golden Triangle scores big for renovation plans appeared first on realestate.com.au.

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East Geelong’s Golden Triangle scores big for renovation plans

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