Modern, low-maintenance properties continue to be in demand with retirees, as fierce bidding for a two-bedroom home in east Warrnambool pushed its sale price to $545,500 on Saturday.
The home at 12 Karen Street, which is close to Gateway Plaza, sold for more than $30,000 above agent expectations.
The two-bedroom home attracted a crowd of 50 people and bidding was between three parties.
Ray White Warrnambool auctioneer Fergus Torpy said other people had shown interest in the property and intended to bid, but the auction moved so quickly they didn't get involved.
Mr Torpy said bidding started at $470,000 and rose in $10,000 bids to $490,000 and in $5000s to $510,000.
"Then someone did a $20,000 (bid) to $530,000. They tried to do a big knock-out bid and then it went in thousands from there," Mr Torpy said.
The home had a price guide of $470,000 to $510,000.
"This highlights the desire for modern, low maintenance, flat, single-storey properties close to amenities. Everyone that was interested were either an older couple or single person."
He said the seller was ecstatic about the price.
"It highlights if there's a certain property in certain price points it will be well received in the market place and quite competitive. It was a cracker," Mr Torpy said.
Ray White also auctioned a three-bedroom home at 1 Gabreka Court which sold under the hammer for $779,500.
There were three active bidders, all from Warrnambool, and the home was purchased by a Warrnambool couple.
Lead sales agent Lachie Kelly said the home had a price guide of $750,000 to $820,000.
"Bidding opened up at $680,000 and went in $20,000 increments to $740,000 then it went to tens and slowed down to fives at the end and one final bid got it over the line," Mr Kelly said.
"It's a great little area down there. It's tightly held in Gabreka Court. I can't remember the last sale down that way. It's very family-friendly. The sellers and purchasers are both very happy."
Meanwhile, a three-bedroom home at 27 Kruger Street in central Warrnambool also sold on Saturday for $502,505.
Auctioneer Fergus Torpy said bidding opened at $470,000 and after negotiations it sold under the hammer to a first-home buyer, who was the sole bidder. He intends to live in the property.
It had a price guide of $499,000 to $540,000.
Mr Torpy said the agency's three sale results across the day were pleasing and it showed there was still good market confidence.
In the fourth auction of the day, a young Allansford resident was pleased to buy into the area, ending his long search for a suitable home.
The first-home buyer was the sole bidder on a three-bedroom property at 1 Sophia Street, which was auctioned by Danny Harris from Harris & Wood.
Harris & Wood sales executive Josh Bermingham said the home, on a 800-plus square metre block backed onto the Hopkins River and sold for $562,000. It had a price guide of 540,000 to $570,000.
He said the man opened the bidding with an offer of $540,000.
"We passed it in and negotiated up to the $562,000 sale price," Mr Bermingham said.
"It sold to a young buyer, a first-home buyer. His family has been in Allansford for about 15 years and he's been looking for something for a while with a little bit of character about it.
"He didn't want a new home, he wanted something he could put his own touch on. This one came up and he really wanted it.
"It was a good result selling to a local Allansford guy. He's looking forward to moving in and making a few little changes.
"The sellers are ecstatic. They're rapt with the result."
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