Mixed results as some Warrnambool homes sell at auction

The townhouse at 2/4-6 Banyan Street, which is close to the CBD, beach and Lake Pertobe, sold for $590,000.

Harris & Wood real estate auctioneer Danny Harris said it opened with a vendor bid of $525,000 and bidding was between three interested parties.

He said the two-bedroom property sold for just above its quoted range of $550,000 to 580,000 to a Warrnambool investor who would rent out the property.

Mr Harris said the townhouse was previously used as holiday accommodation and he was unsure if the new owner planned to turn it into a short or long-term rental.

Prior to bidding, Mr Harris told the crowd of about 40 people that the vendor would donate one per cent of the sale price to the Turkey-Syrian earthquake relief efforts.

He told onlookers that the woman selling the property wanted her donation made public and hoped it would encourage "spirited" bidding, with the knowledge that some of the proceeds would go to overseas aid.

Across town, Mr Harris also auctioned a property at 3/50 Eddington Street on Saturday.

The three-bedroom villa sold for $450,000, which he said was above its price guide of $390,000 to $410,000.

Mr Harris said bidding opened at $400,000 in front of about 30 people and it was a really good result.

He said the free-standing villa, which was part of a group of six units, sold to a Warrnambool woman who will live in it.

"There were three bidders who battled it out," Mr Harris said. "There was an opening bid of $400,000. It went in rises of $5000 and $2000 bids to $432,000 and an aggressive bid of $450,000 won the day."

Meanwhile, a four-bedroom home in the city's east at 3 Napthine Terrace failed to sell at auction.

Ray White Warrnambool sales agent Chris Thomas said the two-storey home was passed in on a vendor bid of $790,000 and negotiations were ongoing. The home, which also has a four-car garage, had a price guide of $795,000 to $860,000.

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