Weekend auctions suggest Warrnambool market is strong

The three-bedroom, two-bathroom Craig Street brick home on a 1000-square-metre block sold for $890,000 to a young family after a strong opening bid prompted a head-to-head bidding battle with another young couple.

Agent Fergus Torpy said the property had had 70 to 75 inspections over the previous few weeks, so it was no surprise to see a crowd of 60 turn up for the auction.

"It's a really nice mid-century home and the buyers intend to do a sensitive renovation to bring it back to life," he said.

In Archibald Street in the city's inner west a three bedroom home sold for nearly $100,000 above agent expectations at $458,000. The surprise result was prompted by a five-way bidding war in front of a thirty-strong crowd in what Mr Torpy said was a sign mid-priced homes were still extremely sought after.

Meanwhile on Friday afternoon a modest crowd of 20 people watched a refurbished two-bedroom unit in Mott Street sell to a first home buyer for $376,000, within the projected range.

Mr Torpy said the first spring auctions had "all been strong" and there were still plenty of buyers around keeping confidence high.