QUIET is the best way to describe south-west auctions at the weekend — all three houses offered failing to sell.
Most surprising was a three-bedroom period house at 7 Seymour Street, Terang, which had good interest from buyers prior to auction but received no bids on Saturday.
Director David Falk from Falk and Company said the property was passed in on a vendor’s bid of $380,000 after failing to attract any interest from the 15 people present.
“We had a vendor bid at $380,000 and unfortunately that’s where it stopped. Unfortunately we’re looking for something around the $400,000 mark,” he said.
A three-bedroom property at 15 Ewing Street, Terang, had a disappointing campaign and continued to be lacklustre on auction day, despite its large block and affordable price range.
Mr Falk said the auction was “very quiet” and attended by 10 people who did not make a bid.
The house was advertised prior to auction for $180,000 to $220,000 and is now for sale for $225,000.
Mr Falk said he wasn’t sure of the reasons for the uneventful weekend. “It’s hard to gauge because things had been going along nicely,” he said.
A three-bedroom house at 85 Laverock Road, Warrnambool, was passed in at $195,000 at auction on Saturday and is now on the market for $210,000.
Southern Grampians Real Estate Warrnambool agent Garry Chisholm said about 20 people attended the on-site auction in west Warrnambool.
“I think it’s a reflection of the market. People are looking for houses but they’re looking for bargains,” Mr Chisholm said.