It was a clean sweep for Warrnambool real estate agents at this weekend's auctions with large crowds showing there's still plenty of interest in the market.
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About 30 people turned up for the auction of the four-bedroom, quaint cottage at 22 McConnell Street in central Warrnambool on Saturday morning.
Despite the crowd, silence drew Harris and Wood real estate agent Matthew Wood to kick it off with a vendor bid of $730,000.
That was quickly followed by a bid of $740,000, which proceeded to rise by increments of $20,000, $10,000 and $5000.
In the end, three active bidders saw the final offer rise to $815,000, a result far higher than the top of the expected price range of $790,000.
Fellow real estate agent Josh Bermingham said it was a great result for the local buyer and vendor.
"It went really well," he said.
"It just shows there's really strong interest, especially for those properties sitting at the top end.
"If you're looking online, there's just nothing. The stock levels are really, really low and buyer demand is still quite high, which is equating and resulting in prices which we're not expecting - in a positive way.
"It just shows the interest is absolutely still there for property, so it's still a good time to be transacting down here in Warrnambool."
Meanwhile, a similar-sized crowd watched the three-bedroom homestead on 11.71 acres at 222 Sims Road, Mailors Flat go under the hammer.
Bids for the property - which had an expected range of $690,000 - $750,000 - began at $680,000, rising to $700,000 before breaking down into $5000 increments.
In the end it was a young local family looking to purchase land out-of-town which came out on top, nabbing the property for $730,500.
Ray White real estate agent Lachie Kelly said all parties were thrilled.
"It was a really well-run campaign, there's extremely happy purchasers and vendors on both ends," he said.
Finally, the four-bedroom property at 73 Gateway Road, Warrnambool, went under the hammer in front of a large audience of about 50 people.
After an opening bid of $600,000, three active bidders - who were all prospective first-home buyers - vied for the home before the offer stalled at $660,000.
Following a short negotiation, the crowd was informed the bid has risen to $670,000 - within the expected price range of $650,000 - $710,000 - and no further bids were received.
The property was sold to a local couple.
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Jessica Greenan
Journalist at The Warrnambool Standard covering both Moyne Shire and Corangamite Shire Council. Sometimes court. Special interest in all things environment.
Journalist at The Warrnambool Standard covering both Moyne Shire and Corangamite Shire Council. Sometimes court. Special interest in all things environment.
