A beloved family home close to Newtown’s retail heart smashed its reserve price by more than $200,000 as two parties went head-to-head at an auction.
The four-bedroom house at 55 Bond St sold for $1.826m on Saturday in front of a large crowd.
Two parties flexed their financial muscles in an arm wrestle over the two-storey Californian bungalow on a 658sq m block just a short walk to the heart of the river end shopping strip on Pakington St.
RELATED: Splurge on Geelong’s cheapest suburbs as buyers grab bargains
Denis Walter selling up to cross the river to Newtown again
Geelong among top 10 regional areas most popular with home buyers
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
55 Bond St, Newtown, sold at auction on December 14.
Tom Butters calls for bids at 55 Bond St, Newtown. The home sold for $1.826m
The substantial living room opens onto the back yard.
Bidding opened at $1.5m and continued briskly before Buxton, Newtown auctioneer Tom Butters called the property on the market as the price passed $1.6m.
Bids were still rising in $25,000 increments, but eventually settled at $5000 to $2500 rhythm before the successful bidders stood alone, buyers seeking a family home.
It’s a remarkable result demonstrating that the cream will always rise to the top in a property sense, even in a year which Mr Butters describes as a “crap” market.
PropTrack data shows overall, the Geelong region’s median house price is 3.3 per cent lower than the same time last year.
But Newtown stands among the city’s better performed suburbs in 2024, with a 7.1 per cent increase in median price over 12 months to $1.2m, though houses are taking substantially longer to find a buyer.
The first-floor retreat leads to a rear balcony.
The backyard is ideal for family friendly activities.
“We talk about what the market’s doing, and it’s no secret – the market’s crap,” he told the crowd.
“It’s been a really bad 12 months – 13 rate rises off the back of the biggest thing we’ve ever seen in the pandemic. We don’t sugar coat it, that’s the way it is.
“But what’s bad about it these second homes, or investments and land tax. The investors are getting out. What’s great about it is when homes like this, family homes in fantastic areas that do not have an issue with them at all come up.
“The cream rises to the top, doesn’t it. It’s as good as you’ll see.”
The timeless property a few hundred metres from Chilwell Primary School and Bond St Kindergarten, offers two living areas, including the substantial open-plan zone comprising the kitchen, dining and lounge area.
The main living area comprises lounge, dining and kitchen zones.
The main bedroom has built-in wardrobe and ensuite bathroom.
The main bathroom features a deep clawfoot bath.
A private retreat upstairs stepped out to a rear balcony, overlooking the backyard with a substantial lawn area, a cubby house, chicken coop and vegetable garden.
The owners paid $955,000 for the home in 2015.
“It’s gorgeous. What I love about it is it’s a family-friendly floorplan,” he said.
“If you look out the back you can overlook the kids locked up in the backyard, running around having fun.
“But look where you are – Pakington St. Go for a coffee, have a meal, have a browse in the shops all with the comfort of leaving your car in the driveway. That’s what this Paris end lifestyle is all about.”
It’s been a busy year in Bond St, with seven homes changing hands.
