Nearly three-quarters of the $500,000 will go to the Peter’s Project Foundation.

Peter’s Project founder Vicki Jellie said $130,000 has gone towards the cost of the services for the land and some construction.

“A lovely young local family has purchased the home,” she said.

“They are very excited and were shocked that they got it. 

“They are very happy.”

Ms Jellie praised Bryan and Petersen Homes area manager Andrew Austen for his hard work over the past two years.

“It was an exciting day for Andy and all the people who have put their heart and soul into the home,” she said.

Bidding started at $400,000 and went up in $20,000 rises to $480,000.

The property was declared on the market at $495,000 and sold after a final bid of $500,000.

Representative agents from Ray White Warrnambool and Homeseeka were impressed with the sale.

Ray White director Leanne Mugavin said it was a wonderful result.

“It was a great example of what a community can do,” she said.

“There was an emotional feeling amongst everyone. The emotion was very raw.”

Homeseeka director Paul Jellie said about 200 people attended the auction.

“There was heaps of people there,” he said.

“It was a great turnout.”

The four-bedroom house in the Toohey Estate was built thanks to the donation of land, labour and materials from the community and tradespeople. 

Another auction at 24 Tozer Road, Warrnambool yielded no result.

Brian O’Halloran and Co. agent Brian Hancock said bidding opened on a vendor’s bid of $280,000, with no further bids.

Mr Hancock said negotiations were continuing with interested parties.