Front runners rewarded for bidding at Geelong West auction

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Barry Plant, Geelong’s Lloyd Moulton (centre) and Dion Plumb (right) auction 13 Waterloo St, Geelong West on Saturday.

A YOUNG couple with the confidence to bid at auction has beaten multiple buyers who adopted the wait and see approach to the sale of a Geelong West character home.

Barry Plant, Geelong agent Dion Plumb said four people in the crowd stepped forward with an interest in 13 Waterloo St after it was passed for $560,000 on Saturday.

The crowd looks on.

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But the three-bedroom weatherboard house sold to the highest bidder for $585,000 during post-auction negotiations.

“We ended up with two active bidders and then we had four people post-auction that wanted to have a go at it, two of those were subject to finance,” Mr Plumb said.

The character and location of 13 Waterloo St, Geelong West was the big drawcard.

He said the early Victorian home with many original features nailed the buyers’ brief of a character home near Pakington St.

The house has been restumped and had plumbing and wiring updates, paving the way for further renovations or an extension on the 321sq m block with two street frontages.

“There was so much potential, you could go up and add a second storey to get bay glimpses or extend out,” Mr Plumb said.

The loungeroom.

The house has original timber floors, high ceilings, working fireplaces with timber mantles, stepped cornices and sash windows in the three bedrooms and loungeroom.

A more recent kitchen and dining area and bathroom provide modern comfort at the rear.

The price represents entry level buying in Geelong West, where the median house price is $667,000, according to CoreLogic.

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