Home buyers were spoilt for choice this weekend, with Ray White Real Estate auctioning four Warrnambool homes on Saturday.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
One Bushfield buyer picked up a two-bedroom central home on a large block in Banyan Street for $420,000 against multiple bidders.
The buyer, who wished to remain anonymous, said the property would be used as an investment.
"We'd been looking for a good while," he said.
"We won't consider subdividing the property for at least 12 months."
At 11am, a modern three-bedroom home with two bathrooms in Toohey Drive went under the hammer.
A large family home nestled amongst birdlife on 1.5 acres attracted a lot of interest.
The Banksia Drive home has four bedrooms and two bathrooms and a deck that offers views of the Hopkins River.
It was auctioned at noon and at 1pm a fully revamped three bedroom home in Fitzroy Road was up for grabs.
Ray White Warrnambool's Fergus Torpy said sellers were happy with the outcomes of the day.
"The Banyan property was sold by a local couple to a local couple for a price well around where they were hoping to achieve," he said.
"The next one at Toohey Drive had a good crowd and had four bidders with it ultimately going to a local couple for a family home.
"That property went for $70,000 above the top end of the range at $532,000 so the owners were delighted.
"Then Banksia Drive had good interest, two local families went toe-to-toe for that went and that went to one of them for $910,000. It's good to see a strong auction at the upper end of the market as well.
"That also went about $60,000 above what the owners expected so again a good result.
"Then the last one at Fitzroy Road was a beautiful renovated weatherboard property with three bedrooms and two bathrooms, that had a really good crowd and went to a local first home buyer against five other bidders for $498,500.
"That one had interest outside Warrnambool from Geelong and Melbourne-way as well. It got down to the 100s in bids."
Mr Torpy said homes in Warrnambool are proving extremely popular at the moment, with many under offer within days of being listed.
"We're the only ones who do auctions and we have done a lot more lately," he said.
"It's been good with restrictions easing, we can have 50 on site so it's good to have crowds back and generating the sellers market, which is seeing lower interest rates, stamp duty and concessions, so buyers are confident they can get involved a bit more.
"It's a bit of a perfect storm."
Ray White Warrnambool will carry out four more auctions before Christmas and then kick start auctions at the end of January 2021.
"The Warrnambool market has bucked the trend with COVID, we're seeing good confidence especially locally as well as some further afield interest. It's seeing it's first real boom for a little while.
"The building and land game is no different."
Listen to the latest episode of our weekly episode The Booletin and Beyond:
READ MORE:
Have you signed up to The Standard's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in the south-west.