Central home price jumps more than 60 per cent in four years

A 1960s three-bedroom orange brick home in central Warrnambool has jumped in price more than 60 per cent in the past four years.

The home on a 532sqm block at 53 Henna Street, situated between Lava and Koroit streets, went under the hammer on Saturday, April 20.

In a marathon 20-minute auction, five bidders made 40 offers before a Warrnambool woman made the successful offer of $730,000.

The same property sold for $453,000 on February 23, 2020 - just over four years ago.

That's a jump of $277,000, or about 60 per cent.

The auction conducted by real estate agent Fergus Torpy, for Ray White Warrnambool, attracted significant interest with more than 60 people attending the offering.

Real estate agent Tessa Stephens said the sale at Henna Street showed the central Warrnambool property market was white hot.

"It was a very pleasing result," she said.

"There were five bidders who made about 40 bids to the sale price of $730,000."

Pre-auction the expected price range was $625,000 to $675,000 and the property was declared on the market at $660,000.

Ms Stephens said 100 people viewed the property during a four-week sale campaign, but she explained there was a mixed reaction despite it being in a great location, as the home was close to its original condition.

She said the Warrnambool woman who successfully bought the home was going to live in it.

"The lady who bought it has been looking and taking part in auctions for the past 18 months," she said.

"It was very pleasing to see that she was the successful bidder today."

The agent said that the previous owner bought at the right time - in February 2020 pre-COVID.

She said at that time the average price for a home in Warrnambool was $320,000 and the Henna Street was well above that figure.

"We forget very quickly, but that buying price at that time was a lot," Ms Stephens said.

"The market has moved 40 to 48 per cent and being a very central location, that always attracts a crowd.

"Central Warrnambool properties are hotly contested.

"The previous owner is ecstatic and that sort of sale today brings confidence to the market, especially considering she paid at the top of the price range when she bought it."

Another successful auction, a three-bedroom home at Wirilda Trail in north Warrnambool, attracted two bidders.

There was an opening bid of $600,000 before a counter offer of $650,000, and a gradual increase to the sale price of $690,000 which was made by the opening bidder.

Warrnambool district people bought the property as an investment.

A four-bedroom home at Huntingfield Drive in east Warrnambool failed to build on a vendor's bid of $800,000 for a property expected to achieve a sale price of more than $1 million.

At 10.50am:

Warrnambool Saturday auctions have kicked off on a flat note with a property at Huntingfield Drive in the east of the city failing to attract a bid.

Real estate agent Fergus Torpy, of Ray White Warrnambool, threw in a vendor bid of $800,000 for the home at 16 Huntingfield Drive, but failed to attract any interest from the crowd of about 20 people and was passed in.

The property was expected by neighbours to attract a sale price of between $1.1 million and 1.2 million.

The next auction is set for 11.30am at 53 Henna Street in central Warrnambool.

Earlier: There are three home auctions listed for Warrnambool today, Saturday, April 20.

The action kicks off for real estate agent Ray White Warrnambool at 10.30am with four bedroom 16 Huntingfield Drive in Warrnambool going under the hammer.

That will be followed at 11.30am with a three bedroom home at 53 Henna Street and then at 12.30apm a three bedroom home at 1A Wirilda Trailwill will be offered for sale.

The result at Henna Street will be particularly interesting as the property changed hands just before the COVID pandemic and if it sells that may give a true reflection of price rises since the pandemic in the city.

Huntingfield Drive is listed as a generously designed layout, in near pristine condition offering luxury, comfort and ample space for the entire family.

The ground level includes a potential fourth bedroom or home office alongside a separate living room.

The lower floor features a spacious powder room, abundant storage, a study nook and an impressive staircase.

Towards the rear of this level, there's open plan living featuring an expansive kitchen with a waterfall stone benchtop, built-in cooker, a sweeping butlers pantry, a sizable dining area and a living room that extends to a covered entertainment area, equipped with remote control blinds, electric roof heating as well as a spa.

There's also a good sized backyard workshop.

A lounge retreat and rumpus space await on the upper floor, providing incredible versatility for a growing family, along with two generously sized secondary bedrooms boasting extensive built-in robes, an elegant bathroom with a separate toilet as well as a master suite with ample storage, an ensuite featuring a walk in shower and dual vanity, in addition to a private balcony.

It's all on a 753sqm block and within walking distance of the Hopkins RIver, Homemaker Centre, Flying Horse Bar & Brewery and a short drive to Gateway Plaza.

Henna Street is a great central location involving a beautifully kept mid-century build 1960s brick home.

The three bedrooms offer a large master positioned at the front of the home, two rooms with built-in wardrobes and updated window furnishings throughout.

A light filled original kitchen adjoins the dining space and large living area.

The sunroom leads to the garage and to the recently renovated laundry with ample storage and new Miele dryer and washing machine.

The bathroom has been restored with the original blue bath and vanity set amongst pink tiles.

It's all situated on a 532sqm block, only a short walk to a supermarket, butcher, bakery, pharmacy and coffee shop.

And Wirilda Trail is a generous 1000sqm plus block in one of the original north Warrnambool estates.

The property features a spacious front yard, while the enclosed and secure backyard boasts a lush grassed area and a welcoming courtyard, making it perfect for family living and entertaining.

Inside there's an open plan kitchen and living area, a second relaxed living area creates great flexibility, with the comfortable master bedroom, equipped with a stylish walk-in robe and ensuite, in addition to two further sizeable bedrooms each with built-in robes.

The home is close to schools, hospitals, parkland, the Merri River and bike trails.