The area is very tightly held with hardly any properties sold on the riverside from numbers one to 15 in the last 50 years.Jason Thwaites
A home in a dress-circle location is already attracting interest from across the state.
The three-bedroom home in Riverview Terrace has been listed on the market for the first time.
It offers sweeping river views from every room and the large block gives the opportunity to renovate the home.
Ray White Real Estate Warrnambool agent Jason Thwaites said the original 1960s era cream brick veneer designed by Alf Altmann and built by Cecil Gardner was set back on the block to take in the magnificent river and ocean views.
"The area is very tightly held with hardly any properties sold on the riverside from numbers one to 15 in the last 50 years," Mr Thwaites said.
"The property lends itself to a renovation or extension as there is a large block that the house sits on and you could take further advantages of the river views.
"The property has generated local, regional and metropolitan interest since entering the market just before Christmas with the campaign getting into full swing this week."
The generous sized lounge room has a split system and a woodfire, the property also has a balcony, established gardens, three generous sized bedrooms and one bathroom. The home is set to be auctioned at noon on Saturday, January 30.
Mr Thwaites said Ray White had a number of new Warrnambool listings.
He said there would be at least 10 auctions held over the next two months.
"Those that have been listed have been receiving positive inquiry in the first week of the new year so there's continuing interest from 2020," Mr Thwaites said.
Property in Warrnambool has been snapped up at a rapid rate and some agents reported homes being under offer hours after they are listed online.
Data from the Real Estate Institute of Victoria revealed the median price for properties increased in 2020.
The median price for a three-bedroom home increased from $349,000 to $375,000, while there was a spike from $450,000 to $500,000 for four-bedroom homes in the city.
A number of real estate agents said they had the fewest number of listings they had in years due to high demand.
Listen to the latest episode of our weekly episode The Booletin and Beyond:
Have you signed up to The Standard's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in the south-west.