Competition fierce for south-west properties, with nine sold under the hammer

Ray White Real Estate Warrnambool sold nine properties in a bumper night of auctions at the Matilda Room.

Director Fergus Torpy said three properties were passed in while two were sold prior to the night.

"We had nine sell under the hammer, which was great," he said.

Negotiations are ongoing for the other properties that were passed in, Mr Torpy said.

A three-bedroom home at 175 Merrivale Drive was the first of two properties to receive at least 50 bids.

It was sold for $510,000, which was a fantastic result for the vendor, Mr Torpy said.

Bidding for a three-bedroom home at 51 Clarke Street Koroit started at $350,000.

At least 50 bids were submitted before it sold for $518,000.

"Bidding for both of those properties probably lasted for 15 minutes - it was vigorous, competitive bidding," Mr Torpy said.

He said Koroit properties had increased in popularity in recent years.

"Koroit is still slightly more affordable than Warrnambool and significantly more affordable than Port Fairy," Mr Torpy said.

A four-bedroom house at 32 Skiddaw Crescent, which has been extensively renovated, was a stand out sale on the night, Mr Torpy said.

Bidding started at $670,000 before two bidders went back and forth before it was sold for $816,000.

"It shows you what can be achieved when there has been a lot of work done to a property," Mr Torpy said.

A three-bedroom home at 3 Adam Court was sold for $510,000 to someone relocating to Warrnambool for work, while a two-bedroom house on Raglan Parade was snapped up by a local investor for $447,000.

A three-bedroom home with two bathrooms at 114 Laverock Road sold for $449,000, with four bidders vying for the property.

A modern two-bedroom townhouse at 2/39 Keith Street had interest from three bidders and sold for $510,000.

Another Keith Street property, a two-bedroom unit sold for $425,000, while a two bedroom unit at 1/19 Karana Drive sold for $325,000.

A townhouse with ocean views at 2/36 Merri Street was passed in without any bids.

Negotiations are under way for the other two properties that were passed in - a three-bedroom home at 9 Archibald Street and a two-bedroom weatherboard home at 521 Princes Highway in Port Fairy.

Mr Torpy said demand for south-west properties had been extremely high in 2021.

He said the clearance rate for auctions had been at 90 per cent or above, which was a fantastic result.

"Warrnambool has certainly proved it's very popular in the past 12 months," he said.

Ray White has one home that will go under the hammer on Saturday - a modern two storey home with four bedrooms and two bathrooms at 1 Coleman Lane.

It will go under the hammer at 12.30pm.

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