East Geelong record house price broken as four vie for top street

East Geelong has a new record house price as local residents played in a high-priced game of musical chairs with real property.

A renovated four-bedroom period home with a backyard pool and rear double garage and workshop at 5 Gurr St sold under the hammer for $1.905 million at Saturday’s auction.

The sale lifted the price of East Geelong’s most expensive home by $355,000 after just six months as the auction finished about $200,000 above the reserve.

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The previous record was set in January, when a young couple snapped up a four-bedroom brick character home in Humble St for $1.55 million.

McGrath, Geelong agent David Cortous said two of the four bidders at Saturday’s auction lived within 200m of the Gurr St home.

Local residents were jockeying for position in East Geelong’s coveted “Golden Triangle” after the vendors recently bought in Geelong’s nearby Eastern Beach precinct.

“Once you live there you don’t want to leave,” Mr Cortous said.

Mr Cortous said there were several others hopeful buyers in the crowd, such is the appeal of Gurr St, where classic period homes deliver neighbourhood character in spades.

With Garden St’s cafes, the Eastern Gardens, the waterfront and Geelong’s CBD within walking distance, it’s easy to see why this city fringe spot is a magnet for buyers.

“I think it ticked every box,” Mr Cortous said.

“They had street, it was location, north-facing, 780sq m, rear access, front access, it didn’t miss much.”

Bidding opened at $1.6 million, with three bidders in the crowd and another online participating.

Price hopes were $1.65 million to $1.75 million.

Mr Cortous said recent improvements, including updated flooring, a new kitchen and two renovated bathrooms, had been perfectly executed to create a beautiful mix of old and new.

A wide entrance hall dressed with hardwood timber floors offers views right through to the backyard as you pass by a formal loungeroom, three minor bedrooms and family bathroom en route to the light-filled kitchen, dining and living room.

The modern kitchen is the centrepiece of the space, pairing white Caesarstone benchtops with European appliances, dark cabinetry and a walk-in pantry.

In this work from home era, a home office is often high on buyers’ wishlists and here it’s tucked away in the double garage and workshop at the rear of the 782sq m property.

Peace and quiet is assured out here and there’s even a powder room for added convenience — either when working or lounging around on the pool deck.

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