Warrnambool, Port Campbell, Port Fairy auction results add to real estate boom

Ray White Warrnambool agent Lachie Kelly said the sale of 25 Henry Street at $655,000 exceeded the expectations of the vendors and the real estate firm who had estimated a top price of $570,000.

"It's really coming down to supply and demand," Mr Kelly said. "There are more buyers than properties out there and people are having more competition to secure a property.

"We had nearly 60 groups through this property which was more than expected but in line with other recent listings in the area.

"This property was so unique and it ticked a lot of boxes for a wide range of buyers including first home buyers, renovators and investors."

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The buyer is from the south-west and plans to use the property as a home-based when working in Warrnambool.

Over 25 people gathered at 15 Old Great Ocean Road, Port Campbell for an auction expected to fetch around $550,000.

Ray White Timboon agent Gerard Delaney said the property was passed in at $410,000

"There's strong interest, negotiations are underway and we're confident about the sale," he said.

"You don't get properties coming up in Port Campbell very often. It's a tightly held area but the demand is very strong."

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Stockdale and Leggo Port Fairy auctioneer Hugh Worrall said the 958-metres-squared Gipps Street property sold for an undisclosed amount over the million-dollar mark.

"We had four registered bidders and there was a huge crowd that turned up," he said.

"The bidding started at $950,000 and rose to $1,070,000 before it was passed in at a vendors bid of $1.1million.

"It then sold immediately for an undisclosed price to an out-of-town buyer."

Centrally-located, Mr Worrall said 100 Gipps Street would be an ideal property to develop.

"You have the beach, river and wetlands; it's ideally positioned ," he said.

"This sale just proves how buoyant the Port Fairy market is, properties continue to exceed expectations.

"We are low in stock so it's an ideal time to get properties on the market."

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