A CLEARANCE rate of more than 70 per cent was achieved at the Ray White Warrnambool’s monthly auction on Wednesday evening.
Five out of seven properties sold, with one fetching $65,000 above the reserve price.
Ray White Warrnambool director Jess Densley said his firm was rapt with the result, which was well above Warrnambool’s average auction clearance of about 30 per cent.
The result showed that Warrnambool’s real estate market was picking up, Mr Densley said.
He said there were 80 people at the auction at Lady Bay Resort, including 24 registered bidders.
Two properties sold for undisclosed prices before the auction: a one-bedroom apartment at the Lady Bay complex, 19/6 Pertobe Road, and a five-bedroom house at 24 Cherlin Drive, Warrnambool.
Those that sold at auction on Wednesday night included 45 Wentworth Street, Warrnambool, a 12-month old, four-bedroom home near Russells Creek.
Bidding started at $530,000 and 24 separate bids by three separate bidders pushed the price to the final total of $665,000.
Also sold were a six-bedroom lifestyle property on 1.5 hectares (3.8 acres) at 6 Lowrey Street, Panmure, that went for $635,000 and a four-bedroom home at 35 Mountain Ash Drive, Warrnambool, that sold for $272,000.
A commercial property at 168 Fairy Street with two of three tenancies in place was passed in at $500,000 and is on the market.
A six-bedroom house at 61 Panmure-Laang Road, Panmure, was passed in on a vendor’s bid of $360,000.
Offers after the auction are under consideration.