Buyers pounced on a renovated home at Moriac after no bids were placed at auction. The 2042sq m home offers a manageable lifestyle property with an easy commute to Geelong.
It’s not unusual to see a big crowd at an auction in a place like Moriac.
The Surf Coast hinterland town is a tightly-held property market where most buyers are seeking a lifestyle change.
But despite the big crowd on a cold and a little wet Queen’s birthday long weekend, HF Richardson auctioneer Matt Poustie found none of the four bidders were prepared to raise a hand for the four-bedroom lifestyle property at 4 Bolton St.
RELATED: $5.5m luxury Bellbrae home wows buyers with rural views
Geelong renovator’s delight smashes price hopes by $50K
Tiny home, big living on offer in the Otways, but there’s a catch
“We had four registered bidders (including one phone bidder) after a very strong inspection campaign with over 40 groups viewing the property over the four week period, Mr Poustie said.
The property passed in on a $1.15m vendor bid after there were no bids were forthcoming, and sold shortly after the auction to one of the registered bidders.
The $1.225m sale price was within the quoted price range of $1.175m and $1.275m.
“The property comprised of just over half an acre with a spacious four-bedroom family home, chook run, expansive vegie garden, established gardens and a great indoor-outdoor flow,” he said.
“Moriac continues to be a ‘destination community’ for Geelong or Surf Coast buyers looking for a quieter location and a slower pace of life, within commuting distance to the Geelong CBD.”
Mr Poustie said the buyers were relocating from nearby Bellbrae.
“We had two parties who were showing the most interest but this person trumped the other after the auction,” Mr Poustie said.
He said the buyers had heard plenty of good feedback about the community and were also seeking an quicker commute into Geelong.
Moriac, though a similar distance from Geelong, connects to the city via the Princes Freeway, rather than the more congested Anglesea Rd or Surf Coast Highway.
“They were happy to be on half an acre compared to something a bit bigger.
“It’s a mixture of a more manageable land size and a smaller commuting length to schools and the like.”
The renovated house offers a central township location but with plenty of space on a 2042sq m block.
The floorplan has four-bedrooms, two bathrooms and an oversized lounge with cozy wood fire.
A light-filled dining area and adjacent family room link to the outdoors.
Kitchen highlights include a walk-in-pantry and electric appliances, with induction hotplates, a Kleenmaid dishwasher and a plumbed-in Bosch fridge/freezer.
Mr Poustie said agents aren’t normally short of buyers in Moriac, but suggested some were hesitant given the commendary regarding interest rates and others may have been waiting for another bidder to make the first move.
“With the lack of stock in the market, you tend to normally have two to four genuine interested parties you are not normally short of buyers.”
Originally published as Buyers quick to snap up Moriac lifestyle property after auction