In the 12 months to March this year, there were 37 sales in the town.

Southern Grampians Livestock and Real Estate agent John Lawson said there was huge demand.

"I've been in the job for 50 years and I've never seen anything like this," Mr Lawson said.

He said a home in the town priced under $160,000 sold in six minutes.

"It went up online and a Melbourne buyer called and said they'll take it," Mr Lawson said.

He said he had sold 95 per cent of the listings in the town in the past year.

"I've had three people from Queensland, two from Tasmania and one from the west," Mr Lawson said.

He said he didn't have any listings in Coleraine, but was receiving three to four inquiries each day.

Mr Lawson said rentals were also in high demand, but there were no properties available to lease.

He said Coleraine's new hospital and close-knit community, along with affordable housing was behind the high demand for property.

"There's a bus that goes to Hamilton or Mount Gambier every day," he said.

"It's a pretty little part of the world and the people who are moving here are taking an interest in the community."

Mr Lawson said homes in Coleraine could be snapped up for as low as $120,000, while a buyer could purchase a "top property" for $250,000.

The median price for Coleraine properties is $135,000.

He said the only listing he had in Coleraine, which would be a great investment, was the town's post office.

"It's a great business," Mr Lawson said.

"People can sell up for good money and buy a reasonably priced house and update their car and caravan and have plenty of money in the bank," he said.

Mr Lawson said demand for property in the south-west was high, with many people choosing to move to regional Victoria due to the coronavirus pandemic.

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