Riverside renovator sells $140k over price hopes in Highton
The mid century cream brick house at 32 Cara Rd, Highton, was snapped up for $890,000 at Saturday's auction after four bidders emerged to secure the property.
Jellis Craig Geelong agent Marcus Falconer said the 876sq m property attracted strong interest during the campaign, with plenty of potential buyers mulling the opportunity from north of the border.
The property had been listed with $750,000 price hopes.
'There was great interest from Queensland and New South Wales,' Mr Falconer said.
'I think a few were looking from an investment perspective.'
Mr Falconer reported the full gamut of interested parties in the property, with people also looking to renovate or knockdown and rebuild.
Ultimately, the neighbourhood's residential appeal won out.
'The buyers want to renovate it as a family home,' he said.
'The underbidder wanted to a knockdown rebuild, who would be land banking for the short term. Others wanted to occupy.'
As a renovation project, the house has plenty to work with, from decorative cornices offering an glimpse of Art Deco style.
The house has hardwood floorboards, sash windows, including large picture windows in the main living room looking through the trees and across the river valley.
There are five bedrooms and two bathrooms and an updated kitchen and dining room split across two levels.
But the position is the key element that had potential buyers drooling over this property, about 200m from Barwon River parkland at the end of the street.
The property is also near Highton Village shops and in the Belmont High School zone.
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Expert Advice For Flipping Properties – Focus on areas you know with good amenities, schools and transport; – Work out what housing an area is missing, who will buy it and what they will pay; – Calculate a budget based on what buyers are likely to pay; – Aim to be selling a home close to the suburb's median price, to ensure the most potential buyers; – Expect to make mistakes and budget for them; – Consider potentially hidden holding costs including land tax, interest rate repayments and energy bills for the site; – Budget for realistic time lines to complete work; – Don't assume that lots of other people doing a particular type of home flip or development in an area means they are making a profit, check your own numbers; – Look for areas with high street appeal, then look for homes or blocks without easements or issues that could hamper your plans to renovate; – Get good trades around you that are reliable; – Consider higher cost improvements such as updating the facade and even adding a pool, if there is advice it will help boost a sale; – Avoid properties with low-return repairs needed, such as those that require underpinning; – Explore YouTube channels and even social media for advice from qualified builders and trades, not 'reality' TV; – Don't rush into things; – Try engaging with local community property development networking events; Sources: Property Developer Network's Rob Flux, Buyer's advocate Cate Bakos, serial flipper Caitlin Hamston THE BLOCK SUBURBS' TRACK RECORD Daylesford, 2025 (The Block auction to be held November) Median house price 2025 (June): $818,000 Median house price 2024 (June): $890,000 12-month change: -$72,000 (-8.1%) Melbourne average change: -$1106 (-1.3%) Phillip Island, 2024 (November) Median house price 2024: $750,000 Median house price 2023: $785,000 12-month change: -$35,000 (-4.5%) Melbourne average: $0 (0%) Hampton East, 2023 (November) Median house price 2023: $1,437,500 Median house price 2022: $1.55m 12-month change: -$112,500 (-7.3%) Melbourne average: -$30,000 (-3.3%) Gisborne, 2022 (November) Median unit price 2022: $1.2m Median unit price 2021:$935,000 12-month change: $265,000 (28.3%) Melbourne average change: $43,000 (5%) Hampton, 2021 (November) Median unit price 2021: $2.33m Median unit price 2020: $1.903m 12-month change: $430,000 (22.4%) Melbourne average change: $111,000 (14.8%) Brighton, 2020 (November) Median house price 2020: $2.71m Median house price 2019: $2.545m 12-month change: $165,000 (6.5%) Melbourne average change: $26,000 (3.6%) St Kilda, 2019 (November) Median unit price 2019: $528,809 Median unit price 2018: $514,000 12-month change: $14,809 (2.9%) Melbourne average change: -$20,000 (-3.5%) St Kilda, 2018 (October) Median unit price 2018: $525,000 Median unit price 2017: $542,500 12-month change: -$17,500 (-3.2%) Melbourne average change: $21,200 (3.9%) Elsternwick, 2017 (October) Median house price 2017: $1.87m Median house price 2016: $1.605m 12-month change: $265,000 (16.5%) Melbourne average change: $25,000 (4.8%) Port Melbourne, 2016 (November) Median unit price 2016: $643,750 Median unit price 2015: $652,500 12-month change: -$8750 (-1.3%) Melbourne average change: $20,000 (4%) South Yarra, 2015 (November) Median unit price 2015: $590,000 Median unit price 2014: $560,000 12-month change: $30,000 (5.4%) Melbourne average change: $26,500 (5.5%) South Yarra, 2015 (April) Median unit price 2015: $577,800 Median unit price 2014: $552,000 12-month change: $25,800 (4.7%) Melbourne average change: $18,100 (3.9%) Prahran, 2014 (October) Median unit price 2014: $504,000 Median unit price 2013: $522,500 12-month change: -$18,500 (-3.4%) Melbourne average change: $27,000 (6%) Albert Park, 2014 (April) Median unit price 2014: $701,000 Median unit price 2013: $430,000 12-month change: $271,000 (63%) Melbourne average change: $29,627 (6.8%) South Melbourne, 2013 (July) Median unit price 2013: $511,000 Median unit price 2012: $535,000 12-month change: -$24,000 (-4.5%) Melbourne average change: $40,000 (9.2%) Bondi, 2013 (March) Median house price 2013: $1,567,500 Median house price 2012: $1,247,500 12-month change: $320,000 (25%) Sydney average change: $42,000 (7.4%) South Melbourne, 2012 (July) Median house price 2012: $894,500 Median house price 2011: $985,000 12-month change: -$90,500 (-9.2%) Melbourne average change: -$15,000 (-3%) Richmond, 2011 (August) Median house price 2011: $845,000 Median house price 2010: $805,000 12-month change: $40,000 (5%) Melbourne average change: $35,000 (7.6%)
