Post-auction negotiations deliver family a Herne Hill property
A FAMILY that relocated to Geelong for work has made the move permanent after buying in Herne Hill.
It was the highest bidder for a three-bedroom weatherboard house auctioned on Saturday at 7 Joyce Pde.
Buxton agent Christine Allison said competition from two parties pushed the price to $508,000 but it fell short of reserve and was passed in.
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Ms Allison said it sold during negotiations for an undisclosed figure.
Price expectations had been between $480,000 and $520,000 for the 670sq m property with a north-facing aspect in a quiet cul-de-sac.
“The buyers are a young family moving into the area with two young kids,” she said.
“They relocated a while ago and have been renting here.”
She said the underbidder had questioned whether Herne Hill was close enough to Geelong’s city centre for her needs but was eventually won over by the location.
“We are starting to feel it start to move in Herne Hill,” she said.
Herne Hill median house price has jumped 10.7 per cent over 12 months to $551,500, CoreLogic data shows.