Warrnambool police are asking residents to keep an eye out for a stolen black 2022 CX9 Mazda SUV registration plate number BZF-400.
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Acting Sergeant Derek Verity, of the Warrnambool police crime investigation unit, said the vehicle was stolen overnight from a Nirranda east property.
He said an offender entered a home while the occupants were asleep, took keys off a hook and drove away in the vehicle.
The residents noticed the car was missing on Friday morning and immediately reported the theft and aggravated burglary.
"The offender has crept in, grabbed the keys and then driven off," he said.
"The vehicle is valued at about $40,000.
"We are requesting that people keep an eye out for the vehicle and immediately report any sightings to their nearest police station or the Warrnambool CIU on 5560 1153."
The property where the vehicle was stolen is located on Whiskey Creek Road.
Acting Sergeant Verity said a similar vehicle was stolen in Warrnambool about a month ago from a Bromfield Street address.
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