A three-bedroom house in Kelp Street has sold under the hammer for $750,000, nearly $100,000 over the top of the predicted range, one of five properties to go up for auction in and around Warrnambool on Saturday.
Ray White director Fergus Torpy said it showed vendors could still get great results in the local market.
The auction drew a large crowd of around 40, with five bidders, but the winners were a couple moving down from Melbourne who nabbed the house bidding over the phone.
The mid-century brick home close to the centre of town last sold in December 2020 for just $395,000, an astonishing $355,000 less than the purchase price 15 months later.
Mr Torpy said the comparison was misleading, because the previous transaction was between family members and the property never technically went on the market.
The vendors had painted the interior, put in new flooring, and installed double glazed windows to spruce up the property.
A three-bedroom home in Whites Road also sold for almost $100,000 over the expected range, going to a young, local first home buyer for $625,000 after a tough tussle between four bidders.
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Mr Torpy said the large brick house in Warrnambool's north was always going to be popular "being in that first home buyer price bracket".
He said it also drew a strong crowd of at least 40 people in the unseasonably balmy autumn weather.
They were good sales after two Ray White auctions had ended anti-climatically earlier in the day.
A four-bedroom Californian bungalow on Raglan Parade had passed in at $550,000, with the vendors in negotiation with the high bidder. The listed price range for the property was $550,000-$600,000.
Then a three-bedroom brick house in Clifton Street passed in on a vendor bid of $450,000. The expected range had been $470,000-$510,000, and Mr Torpy said it would now go on the market for private sale.
He said a three-bedroom home on a cosy block on Grieve Street overlooking Albert Park had also sold on Friday afternoon for $507,000, right in the middle of the listed price range.
Meanwhile a luxurious three-bedroom home on a 4000-square-metre block in Cudgee sold under the hammer for $850,000, $60,000 above the top of the predicted range.
Harris and Wood director Danny Harris said the auction drew at least 50 people, with three local bidders fighting it out. The winners were a local couple who bought it as a family home.
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