Properties sell under auction hammer as Warrnambool's market continues strong run

A four-bedroom house in Florence Street sold to local buyers for $875,000, well above the top end of the range that the property was expected to get, Ray White Real Estate auctioneer Fergus Torpy said.

A three-bedroom home in Smith Avenue next to Warrnambool's art gallery sold for $747,000 at auction, about $50,000 over expectations.

It was snapped up by an out-of-town buyer.

A three-bedroom house in Eddington Street fetched $466,000 while a two-bedroom unit in Mitchell Street sold to a local buyer for $465,000 which Mr Torpy said was $30,000 to $40,000 over expectations.

"They were all over the owners' expectations," Mr Torpy said. He said there was no sign yet of Warrnambool's rising property market slowing down.

"It's still a bit of a whirlwind which is proving great for sellers, and buyers have obviously got confidence to go a little bit further," Mr Torpy said.

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"There's certainly some good interest and activity out there.

"People are seeing the benefit in what Warrnambool has to offer."

Mr Torpy said auctions were proving popular for sellers at the moment.

"There's great success out there with really strong results and prices, that's for sure, which we haven't seen this consistently in Warrnanmbool I don't think ever," he said.

All 19 properties that Ray White Real Estate have put up for auction since the beginning of the year had sold under the hammer, Mr Torpy said.

"That just shows the strength in the market place and the method," he said.

While there has been a move toward auctions recently, it was not yet at the level of five years ago where they 100 auctions in a year, Mr Torpy said.

All properties that sold on Saturday were purchased by owner-occupiers.

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