All four houses up for auction sell under the hammer in Warrnambool

A three-bedroom home on Dooley Street sold to a first-home buyer for $400,000 which was just inside the price range of $380,000-$410,000.

Ray White Real Estate sales executive Lachie Kelly said there was just one bidder for that property because a number of potential first-home buyers were not able to bid because their pre-approval for loans - which was needed to be able to bid at auctions - had not come through from the banks.

Mr Kelly said banks and brokers were trying to get finance approved but banks were backed up with the number of new purchasers to the market.

"Banks are under a lot of duress in the current market," he said.

Mr Kelly said there was no signs of the Warrnambool property market slowing.

"There's still plenty of buyers and not enough property on the market," he said.

"It's fantastic for Warrnambool."

A four-bedroom home in Skene Street sold to a phone bidder for $741,000 which was above the top end of the expected selling range.

The property's price range before auction was listed at $650,000 to $710,000.

"There were quite a few bidders for that property," Mr Kelly said.

A three-bedroom house in Russell Street, Dennington sold for $400,000 - just over the top end of the expected range of $350,000 to $380,000.

A three-bedroom house in Ingpen Court sold for $420,000, just over the range of $380,000-$400,000.

"It was a pretty good reflection of where the market is at," Mr Kelly said.

With a mix of investors, first home buyers and those looking to upsize or downsize turning out to auctions this weekend, Mr Kelly said that there were active buyers across all sectors of the market.

Ray White has four more auctions on its books for next weekend.

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