Five Warrnambool homes sell at auction on Saturday

It was one of eight Ray White Warrnambool properties to go under the hammer on October 7.

The three-bedroom home, in a court off Donovans Road, sold for $620,000, well above its price guide of $500,000 to $550,000.

The auction opened with a $500,000 bid, rising in $10,000s and one $20,000 bid to reach $570,000.

There were 23 bids overall with a mix of $5000, $2000, $1000 and $500 offers taking it to the final sale price of $620,000.

Auctioneer Jason Thwaites said more than 65 people watched on as the Warrnambool woman, who was downsizing, purchased the home.

The under bidders included two first-home buyers and two single women looking to downsize, all from Warrnambool, he said.

Another low-maintenance property at 1 Walker Court, off Tozer Road, sold for $538,000 in front of a crowd of about 20 people.

The three-bedroom home, on the racecourse's eastern fringe, had a price guide of $489,000 to $537,000.

Bidding for Walker Court was between three parties, including two Warrnambool first-home buyers.

It sold to a Melbourne buyer, who bid by phone, and is relocating to Warrnambool for work.

The Walker Court auction opened at $480,000 with an initial $15,000 bid, followed by $10,000, $5000, $3000, $2000, $1000 and a couple of $500 bids to reach the final sale price.

Meanwhile, a three-bedroom brick house at 7 Karong Court, in the city's west, sold for $545,000. Its four-car garage was also a drawcard for buyers.

Auctioneer Lachie Kelly said bidding was between two Warrnambool first-home buyers.

He said the auction opened at $480,000 rising in one $20,000 bid followed by $10,000 and $5000 offers, and a couple of $2500 bids to reach the final sale price.

Mr Kelly said the home sold within its $510,000 to $560,000 price guide and the owners, who are relocating, were ecstatic.

A three-bedroom cottage at 44 Kruger Street, on a 900-square-metre block, near the Base Hospital, sold to a Warrnambool family for $633,000.

Auctioneer Fergus Torpy said bidding opened at $580,000 and went in $10,000s to $620,000, then in $5000s to $630,000 and $1000 bids to reach the sale price of $633,000.

He said the Kruger Street home sold above its $575,000 to $630,000 price guide and the under bidder was from New South Wales and relocating to Warrnambool.

Mr Torpy said a three-bedroom home at 61 McMeekin Road, near Merrivale, attracted interest from two first-home buyers and sold for $417,500.

He said the successful bidder was a first-home buyer who moved to the south-west for work from New South Wales a couple of months ago, while the under bidder was from Warrnambool.

The auction opened at $300,000, followed by a $50,000 bid and went in $20,000 bids to $390,000, then in $5000s to reach $410,000 and then in smaller amounts to the final sale price.

It sold within its $400,000 to $440,000 price guide as about 50 people watched on.

Three other properties were passed in at auction on Saturday including a four-bedroom central home at 113 Banyan Street, a three-bedroom house at 18 Loyola Avenue in the city's north and a three-bedroom property at 9 Lucas Court in Dennington.

Mr Torpy said the auctions attracted a "good mixture" of bidders from first-home buyers, downsizers, retirees and people who were relocating.

"There's still good confidence," Mr Torpy said. "The cash rate was held which provides some stability for people borrowing.

"Each of the properties that sold at auction had two to three bidders which is really solid, except for Lutana Grove, which had five."

A ninth property - a four-bedroom home at 2 Leslie Court - was also expected to be auctioned on Saturday. However, it is under offer.

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