A STRONG result at Warrnambool's first auction for the year is a sign of good things to come, say realtors.
A four-bedroom, two-bathroom home on Mountain Ash Drive went under the hammer on Saturday above the asking price for $447,000 to a 40-strong crowd.
Ray White Warrnambool's Chris Thomas said both the buyer and seller were happy with the result.
"It was a really great result, being the first auction for the year it was the first opportunity buyers had to get out and see what's happening in the marketplace for the new year," he said.
"The market is looking really good, it hasn't missed a beat since Christmas and the end of last year and it continues to improve.
"We've had tremendous inquiry from buyers and a lack of supply is leading to prices going really well as well.
"It's certainly a great time to be selling, it's more a market for sellers at the moment which is why people are getting great prices with the lack of supply out there."
The buyer range for the Mountain Ash Drive home was $396,000 - $435,000.
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.