The 19th century Victorian home perfectly suited to post pandemic living | Kanebridge News
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The 19th century Victorian home perfectly suited to post pandemic living

Careful restoration and extension of this historic Geelong home combines the best of traditional and contemporary living

By Robyn Willis
Fri, Oct 7, 2022 7:00amGrey Clock < 1 min

Hot on the heels of their AFL grand final win, there’s more than one reason to look at Geelong as the next property hot spot, with the release of this historic property onto the market.

Originally constructed for Geelong businessman Robert Scott in 1891, ‘Tooroonga’ opposite Pevensey Park is an impressive three-storey home set on 1,136sqm of beautiful gardens. It has six bedrooms and six bathrooms, as well as three car spaces and has been carefully restored to retain its historic charm while still allowing for contemporary convenience.

Original features in the Federation Queen Ann home include stained glass windows and doors, mahogany staircase, fireplaces, traditional architraves and gabled verandas. A charming octagonal tower leads onto the veranda and balcony on the ground and first floor respectively, with a crow’s nest bedroom on the top floor.

The property has been extended to include an open plan kitchen with marble benchtops and top line appliances leading onto an alfresco dining space and outdoor kitchen. In spite of its age, the house is perfectly suited to modern living, with multiple living spaces for communal or semi private use, as well as room for a spacious study or two. There’s even a lift to the main bedroom suite on the first floor.

A pool and self-contained cottage ideal for visiting family and friends rounds out the features of this beautiful home.

 

Address: “Tooronga” 17 Pevensey Crescent, Geelong

For Sale: by Expressions of Interest by November 4

Price Guide: $5.9 million – $6.49 million

Last traded: for $1.9 million in 2007

Agent: McGrath Geelong – David Cortous, 0416 164 336



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Home values continue their upwards trajectory, recording the strongest monthly growth in 18 months, CoreLogic data shows.

The property data provider reports that their Home Value Index has noted a third consecutive rise in values  in May, accelerating 1.2 percent over the past month. This is on the back of a 0.6 percent increase in March and 0.5 percent rise in April.

Sydney recorded the strongest results, up 1.8 percent, the highest recorded in the city since September 2021. The fall in Sydney’s home values bottomed in January but have since accelerated sharply by 4.8 percent, adding $48,390 to the median dwelling value.

Melbourne recorded more modest gains, with home values increasing by 0.9 percent, bringing the total rise this quarter to 1.6 percent. It was the smaller capitals of Brisbane (up 1.4 percent) and Perth (up 1.3 percent) that reported stronger gains.

CoreLogic research director Tim Lawless said the lack of housing stock was an obvious influence on the growing values.

 “Advertised listings trended lower through May with roughly 1,800 fewer capital city homes advertised for sale relative to the end of April. Inventory levels are -15.3 percent lower than they were at the same time last year and -24.4 percent below the previous five-year average for this time of year,” he said.

“With such a short supply of available housing stock, buyers are becoming more competitive and there’s an element of FOMO creeping into the market. 

“Amid increased competition, auction clearance rates have trended higher, holding at 70 percent or above over the past three weeks. For private treaty sales, homes are selling faster and with less vendor discounting.” 

Vendor discounting has been a feature in some parts of the country, particularly prestige regional areas that saw rapid price rises during the pandemic – and subsequent falls as people returned to the workplace in major centres.

The CoreLogic Home Value Index reports while prices appear to have found the floor in regional areas, the pace of recovery has been slower.

“Although regional home values are trending higher, the rate of gain hasn’t kept pace with the capitals. Over the past three months, growth in the combined capitals index was more than triple the pace of growth seen across the combined regionals at 2.8% and 0.8% respectively,” Mr Lawless said.

“Although advertised housing supply remains tight across regional Australia, demand from net overseas migration is less substantial. ABS data points to around 15% of Australia’s net overseas migration being centred in the regions each year. Additionally, a slowdown in internal migration rates across the regions has helped to ease the demand side pressures on housing.”

 

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