Rain has put a slight dampener on a tough weekend of auctions across Warrnambool.
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About 15 people huddled into the garage of a four bedroom townhouse in north Warrnambool to escape from the rain as the auction of 11A Wendy Place got underway.
Just one bid was made, an opening of $550,000. The property had an expected price range of $650,000 to $715,000.
Ray White auctioneer Jason Thwaites put forward a vendor bid of $630,000 but no further bids were received and the property was passed in.
"Playing hardball this morning," he said.
Mr Thwaites later said the property had received offers which were still in discussion.
Then in east Warrnambool, a two-bedroom, mid-century house at 77 Bostock Street attracted a crowd of about 30.
The property had an expected price range of $450,000 to $490,000.
Bids opened at $450,000 and it sold under Ray White auctioneer Fergus Torpy's hammer for $535,000.
At nearby 6 Sheville Grove, 10 people attended with an expectation it would sell for between $330,000 and $360,000.
But bids opened at $340,000 and it quickly became what Mr Torpy called a "two-horse race".
Two couples upped each other by increments of $500 before it reached a final offer of $387,000.
A similarly sized crowd attended the sale of 13 William Street, a two-bedroom house expected to fetch anywhere from $399,000 to $438,000.
Mr Torpy said it was "passed in with no bidders for $375,000".
Mr Thwaites had similar luck at the final auction of the weekend at 8 Jordan Place which was valued at $760,000 to $836,000.
Bids opened at $760,000, followed quickly by an offer of $780,000, but that's where the momentum stopped.
Mr Thwaites placed a vendor bid of $800,000 before receiving an offer of $805,000. Instructions were sought from the vendor and it was decided the property would be passed in.
Negotiations for that property are ongoing.
Mr Torpy said overall the weekend showed there was still "good buyer interest" in well-priced properties.
"The sweet spot is anything around the median house price, about $550,000," he said.
"Bostock Street in east Warrnambool was certainly a standout result, last week we saw a lifestyle property in Koroit achieve good dollars.
"When buyers are seeing value in property, they're coming in with confidence which is good."
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.
