July 14, 2024

t9oor

Swing Your Home

Strong price for original Highton home ahead of renovation

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An original home on one of Highton’s best streets earned a close to $40K premium as locals secure their next family home. But the competition wasn’t so forthcoming down the street.

An original home on one of Highton’s best streets has earned a close to $40,000 premium as local buyers plan a move to their next family home.

Two bidders contested the three-bedroom house at 46 Reigate Rd, helping to push the sale price to $802,000.

Hayeswinckle, Newtown agent Patrick Iredell said bidding opened at $700,000 for the elevated 730sq m property, but it took some time before the competition warmed up.

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The reserve price was $765,000, he said.

“It stalled at $700,000 right at the start and didn’t got anyway for a solid 10 minutes,” he said.

“We thought we’d have to pass it in, so we were pretty happy.”

Mr Iredell said five people had confirmed their interest in the property, a good outcome considering just 14 groups had inspected during the campaign.

Mr Iredell said the buyers had already sold in Belmont and were planning a renovation.

“They’ve got two kids so I think they are going to do a complete renovation on the property,” he said

“When you look at Reigate Rd, it’s probably one of the best streets in Highton.

“The house is a very quirky 70s style. it has the shag-pile carpet, it hasn’t been touched, and a huge backyard.

“It’s the first time its been put up for sale.”

Buxton, Highton agent David Gray later referenced the healthy result up the street when he called for bidders within eyesight at 5 Cheam Walk.

The three-bedroom split-level house occupies a 675sq m block metres from the gates at Montpellier Primary School.

Mr Gray coaxed two people from the crowd to make a bid on the property, but was clear their intention was only to hear the vendor’s reserve price after the property had been passed in.

The pair, who later had an amicable chat while Mr Gray sought instructions from his seller, took the price from a $720,000 vendor bid to $750,000.

Negotiations didn’t got too far on Saturday, but Mr Gray said the bidder returned on Monday with his wife and son, who is in the building trade, and negotiations finished with a $785,000 sale price.

Mr Gray said the buyers were looking at the property as an investment.

Originally published as Strong price for original Highton home ahead of renovation

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