Family home sells for $655k as seven auctions draw mixed results

Number 5/1 Derby Street, Warrnambool, sold under the hammer for $472,000 on Saturday, July 27.

Selling agent Josh Bermingham from Harris and Wood Real Estate said there were two bidders.

"Bidding opened at $450,000," he said.

"Two bidders fought it out in predominantly $5000 and $2000 increments. A local woman purchased the home to live in."

Mr Bermingham said the south-west market was holding well.

"The number of people at open homes are still significant," he said.

"There is probably not a great margin for error at the moment with pricing. If something is priced well, the market recognises it and conversely if it's not, that is recognised quickly as well."

6/14 Panorama Avenue, Warrnambool sold for $427,000 to a first home buyer.

Auctioneer Fergus Torpy from Ray White Real Estate said it was a great outcome.

A double storey, four-bedroom home at 4 Rockview Court, Warrnambool, sold for $655,000.

"It sold to a young couple that will live in it," Mr Torpy said.

"It had two bidders fighting for it."

Number 11 Bourke Avenue, a three-bedroom home in Koroit also went under the hammer but failed to sell.

"It's a beautiful little cottage and there was a good crowd," Mr Torpy said.

"It passed in at $455,000 with two bidders. It was fairly well contested."

A three-bedroom property on a large block at 19 Preston Street, Dennington also passed in with two bidders.

"It was passed in at $490,000 and negotiations will continue," Mr Torpy said.

"There were multiple bidders on nearly every property, which is still a sign of some confidence. There are some gaps to bridge."

A home at 22 North Street, Koroit, was also passed in, as was a Warrnambool property at 110 Hyland Street.