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Posted: Fri, 31 May 2019 05:58:01 GMT

THE top-end of Belmont’s property market is getting crowded as a Riverview Tce property sold ahead of an auction this weekend.

Buxton, Highton agent David Gray handled the midweek sale of the four-bedroom house on a 858sq m block at 51 Riverview Tce.

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“We had a price the vendors couldn’t refuse. We just had a buyer that was always there and coming into Saturday other buyers just weren’t in position,” Mr Gray said.

The sale price was not disclosed, but the property was listed with a price guide from $1.1 million to $1.2 million.

Mr Gray said only one other Belmont house on a residential block that wasn’t a potential development site had sold in that territory.

He said the updated four-bedroom period home was “exceptional”.

“It certainly stood alone,” he said.

More than 80 potential buyers had inspected the property during the campaign, he said.

“Riverview Tce is in that pocket that is probably an extension of Newtown but probably at that price point which is more affordable,” he said.

“If I look back over those Saturdays people were never thinking Belmont, but the house and price point attracted them to it.

“The reality is if you pick that house up and put it across in Geelong West or Newtown you could probably add $100,000 to $150,000 value.

“I think that’s what drove that one largely — it’s the type of property that doesn’t come onto the market every week.

“It was 29 years ago last time it sold, they were probably the biggest influences.”

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