South West Coast MP Roma Britnell snaps up central Warrnambool home

The auction was won by South West Coast MP Roma Britnell.

"I am very confident of the ability of the south-west coast and that's why I'm prepared to invest," Ms Britnell said.

"I'm looking forward to living there.

"It's a major sign of confidence in the region that the Warrnambool market is so strong.

"I've been looking for a home for a long time so I'm really pleased to have been successful today."

It's the first time the three-bedroom Liebig Street home has changed hands for more than 40 years. It last sold in December 1980 for $49,000.

"It's a testament to how popular Warrnambool is and how long people stay in the central part of town," Ray White Warrnambool auctioneer Jason Thwaites said.

Bidding started at $600,000 and was down to $1000 bids between Ms Britnell and another bidder.

The final price exceeded the expected range of $695,000 to $764,000.

The Art Deco home boasts panoramic views across the city to the coast, an updated kitchen, large bedrooms, two garages at the rear and large garden.

"Not often do we see properties in the dress circle enter the market," Mr Thwaites said.

"The current owners had the property for 43 years and bought off the mother so it's been in the family since 1956, so 64 years.

"The rental estimate is around $400 to $410 for a three bedroom and single bathroom.

"The property lends itself to a variety of changes, from standing in the backyard can see 360-degree views so if you went up to a second storey it would be even better."

He said the market is strong at the moment.

"Were getting enquirers from all over the country, there was fellow who drove down to inspect this property from Melbourne at 6am this morning.

"The interest is metropolitan and state-wide.

"But it's not just Warrnambool, regional centres across the country seeing a lot of action at the moment.

"We're seeing a range of buyers moving through the market, there's no one specific market segment moving through.

"As the property values increase and house prices increase, when properties are valued you've got to look at whats happening in the current market, it's what estate agents and valuers do.

"The auction process allows the market to decide the value."

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