Warrnambool home fetches $25,000 above reserve in 30-second bidding war
A three-bedroom Warrnambool home climbed $25,000 above reserve in 30 seconds of competing bids.
About 25 people attended the auction of 16 Baileyana Drive on Saturday. The late-1990s home sits on a 620-square-metre block with three car spaces.
An opening bid of $520,000 came in below the $530,000 reserve. Two bidders pushed hard, adding $10,000 then $5,000 increments in rapid succession.
The price hit $555,000 in just 30 seconds. The agent left to check with the other party, then returned to confirm both were serious.
It sold to the opening bidder. The property was the only auction across the region that weekend.
- $555,000
- Sale price
- $530,000
- Reserve price
- 620 square metres
- Block size
- 30 seconds
- Bidding time
Why it mattersThe fierce competition signals strong underlying demand in a regional market where fewer homes are hitting the block.
AustraliaRegional Victorian property remains competitive despite broader rate pressures, suggesting solid buyer appetite outside major cities.
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