![A renovated four-bedroom home at 22 Mountain Ash Drive in Warrnambool sold at auction on Saturday, November 4, 2023. Picture by Madeleine McNeil A renovated four-bedroom home at 22 Mountain Ash Drive in Warrnambool sold at auction on Saturday, November 4, 2023. Picture by Madeleine McNeil](/images/transform/v1/crop/frm/cxHfELQxnFmSLDWweFfSBG/fc920e4e-951c-4402-8f27-d576b29caa60.jpg/r0_0_4032_2267_w1200_h678_fmax.jpg)
A Warrnambool investor who lives in Mountain Ash Drive has purchased a home in the same street at auction on Saturday.
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The woman, who lives nearby, purchased the renovated four-bedroom home in the city's west for $740,000 on November 4, 2023 and said it was a good investment.
Bidding for the home opened at $650,000 and rose in $10,000 offers to reach $710,000. It then went in $5000 bids to $735,000 with a couple of smaller bids taking the home to the final sale price of $740,000.
The long-time Warrnambool resident, who wanted to remain anonymous, said she had a few investment properties and purchasing the home nearby would make it convenient to manage.
The Mountain Ash Drive home last sold in 2021 for $437,000.
The woman said it was a fair price "compared to the rest of the market" and she was "always looking" at local real estate.
She has lived in the street for three years and said she liked the location.
"I just increased the value of my own property," she said.
Ray White Warrnambool auctioneer Fergus Torpy said two parties "bid confidently" for the Mountain Ash Drive property, with the underbidders also from Warrnambool.
He said the home owners were upsizing to a lifestyle property in the Bushfield/Woodford area.
"They've done a full-scale renovation since they bought it two years ago."
Meanwhile, a ten-year-old Bryan and Petersen-built home at 181 Scotts North Road in Kirkstall sold to a couple living just north of Warrnambool.
The three-bedroom home, set on almost nine acres, had a price guide of $700,000 to $770,000.
Mr Torpy said the auction opened with a $650,000 bid and was passed in on a vendor bid of $700,000.
"It's since had an offer and acceptance inside the range to a second party," Mr Torpy said.
He said both the Warrnambool and Kirkstall properties attracted crowds of between 20 to 30 people.
In central Warrnambool, an impressive five-bedroom period home at 268 Lava Street was passed in at auction.
Harris & Wood Real Estate director Danny Harris said the home had a price guide of $1.6 to $1.75 million.
Mr Harris said the agent suggested an opening bid of $1.5million but no offers were received for the property, which is on a 2800-square-metre block.
Mr Harris said the home would be put on the market in the coming week.
Further away, down the Great Ocean Road at Port Campbell, a three-bedroom home at 2 Morris Street sold at auction for $845,000.
Ray White Camperdown director and auctioneer Alistair Tune said about 30 people attended the auction.
"There were two bidders," Mr Tune said. "We started at around $700,000, we passed it in and then negotiated with the highest bidder at the time.
"It passed in at $831,000 and then we negotiated the sale after it."
Mr Tune said the modern home, owned by a Warrnambool family, was a holiday home/investment which "had a pretty good return on short-term stays".
He said the property sold to a farming family from the Corangamite Shire.
"I'm not sure if it's a holiday home or an investment for them but probably a similar scenario (to the previous owners)," he said.
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