Two houses in prime Warrnambool locations sell at auctions

The four bedroom house on Hickford Parade sold for $1,020,000 at auction on Saturday.

Bidding opened at $750,000 and climbed in $5,000 and $10,000 increments with four people vying for the house.

Auctioneer Danny Harris, from Harris and Wood Real Estate, said the auction had exceeded expectations with the asking price about $730,000 to $800,000.

He said it was one of five houses on the street that had a view of the ocean as well as proximity to the beach.

"Arguably in terms of residential Warrnambool this house has the best view," he said.

He said the market was the best he had seen in his 21 years in the industry.

"I suppose it's surprising compared to what we have seen in Warrnambool, but it's not surprising when compared to other coastal centres," he said.

"It's very good buying."

Mr Harris said it was bitter sweet for the owner who was selling reluctantly due to a change in lifestyle and the property was purchased by a local.

Meanwhile a three bedroom house on Banyan Street sold at auction for $682,000 with about 50 people attending.

Tim Wells, from Homeseeker, said the house sold for above the reserve and was in a blue chip location in the heart of Warrnambool.

He said the auction demonstrated the strength of the Warrnambool market with locals, people from outside of Warrnambool, first home buyers and investors all interested in the property.

He said the house was built in 1931 and had been in the same family for more than 60 years.

"They're sad to see it go," he said.

He said the house was purchased by a local who was wanting own their own property.

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