First-home buyers spending almost $500,000 to buy homes with a smart renovation and school zoning

The three-bedroom house at 39 Katrina Drive was also in an ideal location, opposite John Coutts Reserve and part of the Gladstone Park Secondary College zone.

Ray White Craigieburn sales agent Carlo Gargano said the school zoning had helped push prices up in the area.

“From the house, you could also see right to the city,” he said.

“The vendor bought the home for himself 20 years ago, then he had it as a bit of investment.

“It needed a fair bit of work but the first-home buyer who bought it plans to move in and renovate.”

The home included a private leafy courtyard and was on a corner block.

According to CoreLogic figures, Gladstone Park median house prices soared 11.7 per cent to $480,250 in the 12 months to June, with 144 homes sold in this period.

SUBURB PROFILE: GLADSTONE PARK

COUPLE WINS PROPERTY KEYS

A couple were “absolutely stoked” after their two-bedroom home in Hadfield sold for $452,500 on September 17.

The renovated house at 11 Dickinson St attracted “genuine solid interest” and five confident, active bidders, according to Ray White Brunswick director Jamil Allouche.

“The home ticked the boxes for a few people and over 55-60 groups came through,” Mr Allouche said.

“The couple who bought it were absolutely ecstatic that they got their foot in the property door.”

The vendors who renovated the property, including adding front and side decks, were moving to Sydney after living at the corner block home for nine years.

Mr Allouche said there was a big mix of interest in Hadfield properties but first-home buyers were now being priced out of the suburb as well as neighbouring Glenroy.

CoreLogic figures reveal prices have jumped in Hadfield, with the median house price increasing 14 per cent to $570,000 in the 12 months to June.

SUBURB PROFILE: HADFIELD