Primary school zoning drives up value of family home in Newtown
Access to nearby primary schools and Pakington St drove competition for a large Newtown house on a compact block.
A large period home walking distance from Chilwell Primary School and Pakington St has sold for $60,000 above reserve.
Three bidders contested the auction of the ornate Victorian-era house at 37 Fairview Ave, Newtown.
Buxton agent Dylan Taggert said it sold under the hammer for $910,000, smashing the reserve of $850,000.
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“The people who bought it are from Melbourne and they are looking to move down to Geelong,” Mr Taggert said.
“We had some local bidders as well.
“For (the buyers) it was the character and being within the primary school zones for Chilwell and St Roberts.”
The five-bedroom house is packed with traditional features like polished timber floors, open fireplaces and high ceilings with decorative plasterwork.
It has two separate living areas over two levels, an open-plan kitchen and meals area that links to an outdoor entertainment area and rear access to a double garage.
Mr Taggert said the property offered a lot of house on a modest 321sq m block.
“It was a family home but on a compact block but I feel the people that were interested were not going for a big backyard,” he said.
“The schools are only 100m down the road and you can use those facilities on weekends.”
Originally published as Primary school zoning drives up value of family home in Newtown