A LOCAL buyer has seen the value of an 8078sq m property with river frontage in Anglesea.
The five-bedroom house at 1 Wilkins St is surrounded by native bush and is the only property in Anglesea that has river frontage, according to Great Ocean Properties, Anglesea agent Ian Lawless.
The buyer secured the property for $1.6 million.
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Mr Lawless said the buyers already had a great spot in Anglesea but wanted more space.
“We always assumed it would be a local buyer that knows Anglesea well,” he said.
“This area of Anglesea has a more permanent population as it is more private whereas a lot of people are looking for beach houses with a view.”
Why location is everything in real estate1:58
Why location is everything in real estate
The private oasis has a low maintenance house on it plus a self-contained studio.
The property is a flat walk to the shops and beach, plus there is private access to the river.
The median house price in Anglesea has increased 13.7 per cent in the past year to $850,000, according to CoreLogic.