WARRNAMBOOL'S property market saw a strong close on the weekend, with a number of successful auctions on Saturday.
Four homes were up for auction, with two going under the hammer while another two got passed in.
Ray White Warrnambool's Jason Thwaites said the sale of a central Banyan Street property drew a crowd.
"There were six registered bidders and about 130 people at the auction," he said. "There were four active bidders with bidding starting at $530,000.
"It rose in $10,000 bids to about $640,000, then by fives, twos, ones and $100 bids to a final sale price of $704,000.
"It was above the quoted range in the marketplace so the vendors were very happy with the result."
The purchaser was local and asked to remain anonymous.
"It's a three-bedroom California bungalow on 750 square metres, it's very original and in a great location," Mr Thwaites continued.
"You don't see too many properties come up for sale on Banyan Street, so being a central property there was a lot of interest, whether for local market knowledge or pure interest to see what's happening.
"Our next campaigns to kick off in late January to early February for auctions."
This year Ray White facilitated 59 auctions in total of which 53 sold under the hammer.
"That's a very high clearance rate," Mr Thwaites said.
"Last year we probably conducted the same amount of auctions, they're becoming a very popular method of sale for our office because we're able to deliver good results to vendors."
On Saturday an auction at 13 Lyndoch Avenue passed in on a bid at $342,000 with negotiations continuing.
Another at 9 Banksia Drive passed in at $830,000.
7 Chester Court had three bidders and sold for $385,000.
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