DESPITE strong interest a Warrnambool property has failed to sell at auction.
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Bidding opened on the Mortlake Road five-bedroom home at $600,000 but no bids were made on the property.
Ludeman Real Estate director Mark Dwyer said about 50 people attended the Saturday morning auction.
"Unfortunately we didn't get a bid and the property was passed in," he said.
"But we're pretty confident we'll get a sale.
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"We had a big crowd there and the way it has been going you almost expect it (to sell), but there is strong interest in the property."
According to data from the Real Estate Institute of Victoria, the median house price of homes in Warrnambool increased by 19 per cent in 2020 - the biggest jump on record. REIV data showed the median price for a three-bedroom house in the suburb of Warrnambool last year was $390,000, up 14.6 per cent from the year before.
The median price for a two-bedroom property was $315,000 - an annual change of nearly 10 per cent.
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