Buyers rent for 12 months in Belmont before buying there

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259 High St, Belmont sold under the hammer.

THE auction for a Belmont property was over in less than two minutes with one party quickly outbidding one other party.

The two parties were bidding for 259 High St with the successful party securing it for $600,000, which was at the top end of the price guide.

Ray White, Highton agent George Politis said bidding started at $500,000 and quickly increased.

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The house has been renovated.

“The buyers are originally from Melbourne but had been renting in Belmont for 12 months, they moved down for work,” Mr Politis said.

“Buyers were attracted to the property because of the renovated character house and the land size.”

A formal loungeroom is found at the front of the house.

The backyard is a blank canvas.

The character house has three bedrooms, an open-plan living area at the rear of the house and a formal loungeroom off the traditional central hallway at the front of the house.

The living area leads outside to a raised entertainment deck that overlooks the big backyard.

The 776sq m property is walking distance to local shops and schools and is a short drive away from Waurn Ponds Shopping Centre, Deakin University and the Epworth Hospital.

The median house price in Belmont has increased 7.5 per cent in the past year to $535,500, according to CoreLogic.

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