A Belmont couple paid $700,000 for 109 South Valley Rd, Highton.

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Older housing stock in Highton is proving a happy hunting ground for first-time buyers trying to break into the riverside suburb.

A couple from Belmont scored a three-bedroom brick home at 109 South Valley Rd, Highton, for $700,000 in a post-auction deal.

McGrath, Geelong listing agent Brock Buchanan said they got the jump on two other conditional buyers after raising a hand for the 656sq m property.

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“It was passed in and then sold inside directly after with that bidder that had the highest bid,” he said.

“We had a couple of buyers there, subject to finance, so we had three potential buyers there, and a young couple from Belmont have secured their first home, which is fantastic.

“Obviously the location was a big thing, close to Highton Village and close to Waurn Ponds and it’s in the school catchment zones as well.”

The home has light-filled living spaces.

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The buyers may look to update the house over time.

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The popular Porter Ave shopping strip is also just around the corner from the house, which offers an open kitchen/meals area, dual living rooms and a main bedroom suite.

“It had original bathrooms in it so there’s plenty of scope to add value over time,” Mr Buchanan said.

Later the same day, first-home buyers from Bentleigh paid $780,000 to secure another three-bedroom home at 38 North Valley Rd, Highton.

They were the highest bidders for the property, which was passed in before selling within the $760,000 to $810,000 price range.

38 North Valley Rd, Highton, sold for $780,000 after auction.

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Ray White, Highton agent Ben Powe said the couple had also contemplated making a bid on 109 South Valley Rd but was more drawn to their chosen home’s location.

“They just wanted to make a lifestyle change and relocate to Geelong,” Mr Powe said.

“They had looked at a few properties around Highton and really loved the fact it was close to Highton Village – that was really important to them.

“These guys had had multiple inspections and did a lot of research and on the morning of the auction they arrived early and were having a coffee just to make sure they liked the area.”

The kitchen/meals area has access to the large back yard.

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Timber floors add a warm note to the lounge.

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The neat Bell and Fulton-build home has high ceilings, polished timber floors and an updated central bathroom.

It sits on a 604sq m block with dual street frontages providing rear access to a double garage from Elizabeth St.

Mr Powe said the buyers might look to extend into the sizeable back yard in five or 10 years down the track.