The first auction of a Warrnambool home for 2022 is expected to be hotly contested.
A three-bedroom home with two living areas in Henna Street will go under the hammer on Saturday.
Homeseeka agent Tim Wells said there had been a high number of inquiries about the home, which is ideally located close to the CBD and South West Healthcare's Warrnambool Base Hospital.
"The interest has been a good mixture of local buyers who are aware of the opportunity to purchase in this location and out-of-town buyers from the Geelong and Melbourne areas who still see Warrnambool as a great place to invest," Mr Wells said.
The buyer range for the home, which is located on 640 square-metres, is $600,000 to $660,000.
Mr Wells said demand for property in Warrnambool had been the highest he had seen in his 20 years in the industry.
"For a long time people have said that Warrnambool's housing values were low in comparison to other seaside towns," he said. "A combination of low interest rates, people fast-forwarding their plans to move to the country due to the COVID lockdowns and the lack of availability of titled land have led to the high demand for established homes in the area."
Mr Wells said properties all over the south-west had proved popular in the past 18 months. "Rural and semi rural properties have been highly desired and also surrounding townships like Koroit, Port Fairy, Mailors Flat through to Woolsthorpe and also Terang - all of these townships have seen significant increase in demand and sale prices," he said.
Mr Wells said he believed the high demand would continue in 2022. "Many of the elements that have put Warrnambool on the map and made is so desirable for investors are still in play and will be for some time to come," he said.
The house will be auctioned at 11am on Saturday.
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