AFTER spending eight months looking to buy his first home, Liam King is ready to celebrate.
Mr King was one of four successful buyers at auctions in Warrnambool on Saturday.
Living with his family at Dixie near Terang, and working in Warrnambool, Mr King said he was very excited to buy his own home.
"It's bloody good," he said.
"It's definitely in the lower end of the market. It's a little bit of a fixer upper. I've got a bit of support from my family to do a little bit of work to it."
The Janlor Drive two-bedroom unit had three bidders and sold for $180,000.
Ray White auctioneer Fergus Torpy said a four-bedroom home at Bellmans Road in Bushfield sold for $656,0000.
He said a four-bedroom home at Hood Street in Warrnambool had three bidders and sold for $307,000 which was well over expectations
Mr Torpy said a three-bedroom home at Membery Way in Warrnambool sold for $394,000 which was over expectations as well.
He said there continued to be strong demand for property in Warrnambool despite the uncertain times owing to COVID-19 pandemic.
"There's obviously more demand than supply and the government grants are helping with land," he said.
"People are trying to jump on blocks of land."
Mr Torpy said anecdotally the majority of buyers were from around Warrnambool and the district.
"I haven't seen a lot of people coming from the city," he said. "It seems predominately to be regional buyers."
Mr Torpy said there was strong interest from first-home buyers trying to break into the local market.
"I think especially in those price points $200,000 up to $400,000, where predominantly your first-home buyers are looking," he said.
"We had a property at Iona Avenue near St Joseph's Primary School and that had 29 inspections this morning and that's in that lower $300,000 price bracket.
"It shows in that price point they're going generate quite a bit of contested interest.
"Obviously selling four from four is always a really good outcome for ourselves.
"And obviously for the buyers and sellers in the Warrnambool market place to have good confidence and get good results in what is to an extent some uncertain times."
Only registered bidders were encouraged to attend the auctions due to COVID-19 social restrictions.
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