\u2018A bit crazy\u2019: Family goes large on multi-generational pad<\/a><\/p>\n![\"Help](\"https:\/\/content.api.news\/v3\/images\/bin\/fa398fce51e8b8c75d042a0be30f3617\")
<\/p>\n
The young couple from Melbourne was looking to relocate down to Geelong, which Mr Butters said is a rising trend as buying conditions tighten in Melbourne on the back of three interest rate rises.<\/p>\n
\u201cWe\u2019re meeting a lot of people from Melbourne with one kid and maybe a second on the way, thinking that Geelong\u2019s a great place.\u201d<\/p>\n
Rising interest rates was driving more buyers to once again look further afield considering both budget and lifestyle, he said. <\/p>\n
\u201cI think interest rates have a big play on it \u2013 they\u2019re priced out of the Melbourne market. <\/p>\n
It\u2019s just for those working people, it\u2019s a much more expensive market, and they can spend xyz… and have a better budget, get a better home, and get a better lifestyle. So they\u2019re choosing Geelong as an option.\u201d<\/p>\n
Mr Butters said Waratah St was probably among the top two streets in the suburb.<\/p>\n
\u201cIt\u2019s definitely the best end \u2013 it\u2019s wide, it\u2019s tree lined and it\u2019s just on the doorstep of Pako, so it\u2019s pretty sought after\u201d<\/p>\n
Mr Butters said the buyers had to compete against another Melbourne buyer who had already sold their inner-Melbourne home.<\/p>\n
He said they underbidders had made a low offer and were sitting on their hands until they realised they had to compete, and they lost.<\/p>\n
It\u2019s a warning to buyers considering making a low offer on a property.<\/p>\n
\u201cThey\u2019re just reading the headlines, going, \u201coh, it\u2019s buyers\u2019 market, so we can do what we want. <\/p>\n
\u201cYou know we are pricing homes on the current market. We\u2019re basing it on market conditions on what\u2019s happening a month ago. We\u2019re not doing it based on Covid prices or anything like that,\u201d he said. <\/p>\n
The median house price in Geelong West is 5.3 per cent higher than 12 months ago, PropTrack data shows.<\/p>\n
Mr Butters said people making low-ball offers need to consider if the shoe was on the other foot, would they be offended?<\/p>\n
The period weatherboard home combines timeless character with modern updates, such as high ceilings, timber floors and new carpets in the bedrooms. <\/p>\n
The kitchen features an electric oven and gas cooktop and overlooks the backyard and covered deck. <\/p>\n
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