A renovation has transformed the home at 34 Cambra Rd, Belmont.
FIRST-home buyers arent done with in Geelong just yet, with a Belmont auction underlining the level of competition for property among first-time buyers. A renovated house at 34 Cambra Rd, Belmont, sold for $477,500 at auction at the weekend, significantly higher than the vendors reserve and smashing the street record by $62,000 in the process. Selling agent Will Ainsworth, of Ray White, Geelong, said the property drew a crowd from the minute the campaign was launched. Open living in the backyard. The renovations were absolutely stunning. It had been done to a really high standard and we had over 50 groups during the campaign, he said. Six bidders participated in the auction and a young couple from Melbourne winning the competition to secure their first home. The majority of the buyers were that property were first-home buyers, he said. 34 Cambra Rd, Belmont. Mr Ainsworth said the auction result showed that first-home buyers were needing to raise their targets to secure a home. There price point is going up each week. I suppose theyre just noticing that if theyre going to purchase something in a good area theyre going to have to pay for it. And theyre missing out at auctions and realising is theyre wanting to secure a good property in a good location, they have to be the winner at auction, its as simple as that, he said. http://www.realestate.com.au/news/firsthome-buyers-secure-a-renovated-house-and-set-a-street-record-in-belmont/
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