A family already living in the same street pounced on this original Newtown house when it was auctioned on Saturday.
A Newtown family that had outgrown its current home but didn’t want to leave a much-loved neighbourhood has found the perfect next step under its nose.
It will trade townhouse living for a renovation-ready house in the riverside street where it already resides.
Buxton agent Matt Plunkett said the family beat three other bidders for the keys to 25 Ballater Ave, Newtown at auction on Saturday.
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The split-level floorplan has two living areas.
They paid $700,000 — $50,000 above reserve — for the original three-bedroom house on a 718sq m block that was offered for sale for the first time.
Mr Plunkett said all the buyers were looking to renovate the split-level residence with two living areas right near the Barwon River.
“The people that bought it are going to do a major renovation, they are going to knock down part of the house and do an extension,” Mr Plunkett said.
The kitchen is due for an update.
The riverside pocket offers a more affordable entry point into the Newtown market.
“They actually live in the street and they saw they corflute sign before the property went on the market.
“They are in a townhouse and they have got kids so they wanted something with more space but didn’t want to move too far away.”
He said the riverside pocket of Newtown was more affordable than other parts of the suburb and offered great access to nearby Barwon River walking trails.
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