A clifftop residence in Lorne, Victoria, has achieved a remarkable sale price of $4.2 million, marking it as the highest weekend auction result in the state. The five-bedroom, four-bathroom home at 135 Smith St had remained largely untouched for nearly two decades before it was acquired by a young family from Melbourne, who intend to make it their permanent residence.
The property, set on an 803 square metre block across three titles, was built in the 1970s after the original owners secured land from a nearby heritage estate. Its multiple terraces and upper balconies offer sweeping views of Louttit Bay, a feature that current planning regulations would not permit for new constructions.
Competitive Bidding and Unique Features
According to Jason Barnett, director of Barnett Real Estate Geelong, who managed the sale for State Trustees, the auction attracted considerable interest despite limited inspections. “We had four bidders, and two of them were very competitive until the end,” he stated.
The home is distinctive even within the unique context of Lorne, with neighbours noting that it has not been updated in nearly 20 years. The original timber kitchen remains intact, offering potential for renovation while showcasing picturesque views. Multiple living areas spread across three levels provide versatility for family living and guest accommodation. Barnett remarked, “You simply couldn’t build it again today, which makes those views irreplaceable.”
The buyers, a couple with a baby, were already familiar with the area but sought to establish a more permanent base in the coastal town, embracing a significant lifestyle change.
Market Trends and Future Outlook
While the interiors of the property remain largely original, the size and elevation of the block made it a highly sought-after listing. Features such as the original 1970s bathroom with an arched window and double vanity await modern updates. The separate dining area connects seamlessly to arched balconies, enhancing indoor and outdoor entertaining options.
In a related trend, another property in the vicinity sold earlier this year for $4 million following a complete renovation, highlighting the desirability of clifftop real estate. Barnett emphasized that his role involves driving competition while adhering to strict reserve settings established by the sellers.
He noted, “Over the past three months, I’ve seen buyers become active again, making decisions, and that’s what drives results like this.” The $4.2 million sale surpasses other million-dollar listings in Doncaster and inner Melbourne, reinforcing Lorne’s reputation as one of Victoria’s most exclusive coastal areas.
As the market continues to regain confidence, the success of this auction signals a resurgence in interest for premium properties along the coastline.
