Mid-century Belmont home sells under asking price to first-home buyers

A restored 1950s home in Belmont has sold for $647,000 to first-home buyers relocating from the Surf Coast, falling just short of its $650,000 to $700,000 price hopes.

The mid-century modernist residence at 71 James St attracted attention after being featured on a Retro Houses for Sale Facebook page.

Ray White Highton agent George Politis noted market sentiment has improved following the February interest rate cut.

“There has been a bit more positivity in the marketplace since the interest-rate drop,” Mr Politis said.

The agent observed that buyers remain cautious about properties requiring structural work, but added that mid-century homes are currently enjoying strong popularity.

According to Mr Politis, the buyers were moving from the Surf Coast where housing was less affordable for young purchasers.

The vendor purchased the property in 2019 when it was marketed as a renovation opportunity, but instead focused on restoring its original features.

“I’ve always been a fan of retro and the Atomic ranch style and I didn’t think I’d find one in Geelong,” the vendor Ben told the Advertiser previously.

During the pandemic lockdowns, the owner undertook restoration work including revealing timber floors beneath carpets, repairing individual architraves, and refreshing the bathroom while maintaining period features.

The home’s original timber cabinetry, vintage kitchen, and separate shower room were all preserved during the sympathetic restoration process.