A young homebuyer successfully outbid a number of investors to purchase a character home in Norlane, concluding a deal for $625,000 just before the property was scheduled to be auctioned. The three-bedroom house, located at 9 Donnelly Ave, was listed with price expectations between $550,000 and $600,000.
Nick De Stefano, a listing agent from Harcourts North Geelong, confirmed that the vendor was pleased to accept the offer prior to the auction date scheduled for last Saturday. The decision to sell before the auction was influenced by the attractive nature of the offer, which exceeded the initial price guide.
Character and Modern Living Combined
The Californian bungalow, set on a 650 sq m lot, features two separate living zones and has undergone significant updates since the owners purchased it in 2014 for $260,000. The renovations included an extension that added a third bedroom and a study nook, along with a combined laundry and second bathroom. This enhancement transformed the property into a true three-bedroom home that melds classic charm with modern living.
“The house is presented beautifully and certainly has a lot of character,” Mr. De Stefano noted. Original features such as double-hung windows, baltic pine floorboards, and high ceilings contribute to the home’s appeal. A side driveway leads to a deck and outdoor entertaining area, which offers ample space for a vegetable garden, a cubby house, and a chicken run.
Norlane’s Growing Market
The real estate market in Norlane has seen increased activity, with a total of 275 properties changing hands in the past year. According to PropTrack data, the median house price in the area is now $470,000, marking a 4.4 percent increase compared to the same time last year. This upward trend in property sales indicates a growing interest in the suburb, attracting both local and interstate buyers.
Despite the competitive landscape, the eventual buyers of the Norlane home are owner-occupiers who plan to move into the property, further contributing to the area’s vibrant community atmosphere.
