Central Warrnambool homes sell at auction

A well-presented five-bedroom period home at 12 Jamieson Street sold for $1.4 million, while a historic four-bedroom home at 210 Liebig Street, in need of renovations, fetched $810,000.

A brick unit at 4/81 Lava Street sold for $456,000.

Harris & Wood Real Estate auctioneer Danny Harris said the Jamieson Street home, which dated back to the 1890s and was on an 1100 square-metre site, sold at the top end of its $1.3 to $1.4 million price guide.

Bidding opened at $1.2 million and rose in $25,000s, $20,000 and $30,000 bids to reach $1.3 million, with $10,000 and $5000 bids taking it to the final sale price of $1.4 million.

Mr Harris said bidding was between two Warrnambool families looking to upsize and about 75 people attended the auction.

"We would have had in excess of 40 groups through (prior to auction) which isn't surprising for a property of that ilk and it's also a reflection of the supply issues we have in that price bracket," Mr Harris said. "Stone homes on at least 1000-metre squares, they're fairly few and far between."

The Liebig Street property, just metres from the heart of town, was also situated on a large block of more than 1000 square metres.

Ray White Warrnambool auctioneer Fergus Torpy said while the home had a price guide in the mid-$800,000 to low-$900,000, the sale price exceeded both agent and owner expectations.

A crowd of about 80 people watched on as bidding began at $700,000 and rose in $25,000, $10,000 and $15,000 offers to reach $750,000. It then went in mainly $10,000 bids and two $5000 bids to reach the final sale price of $810,000.

Mr Torpy said bidding was between two local families who both intended to do a substantial renovation on the property.

"Both bidders felt it needed work but you could do a lot with it," Mr Torpy said.

The auction attracted a crowd of about 70 to 80 people.

Mr Torpy also auctioned a central two-bedroom unit at 4/81 Lava Street, which had a price guide in the mid-to-high $400,000s.

He said bidding opened at $370,000 and went in $10,000 bids to $440,000 and $5000s to $450,000 when it was announced on the market. Further smaller bids of $1000 and $500 took the unit to its final sale price of $456,000.

"It was a pretty pleasing result because the front unit sold in the initial stages of COVID and it went for mid- $400,000 so it was in-line with what the going rate was," Mr Torpy said.

Bidding for Lava Street was between three local investors in front of a crowd of about 50 people.

Meanwhile, a three-bedroom home at 27 Marfell Road, in the city's east near the Hopkins River, failed to sell at auction.

Warrnambool's Northeast Stockdale and Leggo auctioneer Matt Northeast said the home had a price guide of $650,000 to $700,000.

Mr Northeast opened the auction with a vendor's bid of $650,000, in front of a crowd of about 40 people, but no-one bid for the property.

He said the home was now on the market for $695,000 and he was in negotiations with a buyer, expecting the property to sell in the coming days.

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