A Highton home where new owners could undertake cosmetic renovations before making the most of the property has attracted four bidders at a weekend auction.

The three-bedroom house at 246 Mount Pleasant Rd, Highton, sold for $700,000.

Barry Plant Geelong agent Kieron Hunter called the auction where four bidders raised their hand for the 720sq m property.

The 1950s era brick veneer house is just down the road from Highton’s North Valley Rd shops, and close to Montpellier Primary School and Barwon River parkland.

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Auctioneer Kieron Hunter calls for bids at 246 Mt Pleasant Rd, Highton. The home sold for $700,000.

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246 Mount Pleasant Rd, Highton, sold at auction.

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Mr Hunter said it would be an easy job for any buyer to set the home on its next chapter.

“We have a very level floor in there for a very level-headed bidder,” Mr Hunter said.

“All you need to do in there, in my opinion, is pull up the carpet, polish the boards and you are away,” he said.

Bidding opened at $600,000, with two groups doing most of the work until the first group dropped out at $680,000.
Mr Hunter revealed the property was on the market as the price reached $690,000.

It had been listed with price hopes from $639,000 to $689,000.

The purchaser was a local investor, adding another home to her portfolio.

The property last sold in 2018 for $620,000 and had been subsequently rented out.

246 Mount Pleasant Rd, Highton, sold at auction.

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246 Mount Pleasant Rd, Highton, sold at auction.

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Another investor buyer pounced at auction to grab a three-bedroom house in Highton’s Olympic estate.

Buyers advocate Tony Slack was the only bidder for the 652sq m property at 13 Roycroft Ave, Highton, landing it for his client for $660,000.

Ray White Highton agents Alex Ilyin and Adam Natonewski listed the property with $650,000 to $700,000 price hopes.

The house has built-in wardrobes to each bedroom, a kitchen connecting to a meals area, dining room and living space, an updated bathroom and a covered deck overlooking the deep backyard where a gate accesses McDonald Reserve.

It last sold in 2019 for $500,000.

The three-bedroom house at 13 Roycroft Ave, Highton, sold for $660,000.

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Highton’s median house price stands at $862,000 in December, according to PropTrack figures, 6.2 per cent lower than the same time last year.

Mr Slack said more investors had judged that Geelong had reached the bottom of the market, with the numbers stacking up for investment grade properties.

“They said it’s just where it is, what it is, the size of the block opening up onto that reserve at the back home was solid enough,” Mr Slack said.

“Sure it wasn’t overly large home, but it was liveable from day one, rentable from day one.”

Mr Slack said that rents had held up and vacancy rates continue to be at record lows, while prices had declined.

“At that price point it’s like you’re buying for land value and it’s a home that you don’t really need to spend a lot of money on (to reach) minimum standards to be able to rent it out.”