The first would be a great option for first home buyers or people looking to downsize, as it has a price listing of $440,000 to $480,000.

Located in Moore Street, the conite home is set on a 730-square metre block.

It boasts a double garage and a large north facing backyard.

Ray White Warrnambool director Fergus Torpy said there was strong interest in the property.

"It's the first time on the market and there has been good interest from first home buyers."

It will go under the hammer by Ray White Warrnambool at 10.30am.

Ray White Real Estate agent Fergus Torpy said interest in south-west properties remained strong.

He said the rise in interest rates had not yet affected inquiry levels.

"It's hard to know this early what effects it may have," Mr Torpy said.

"The rate is still lower than what it was two years ago and it is historically extremely low."

Also set to be auctioned is a block of six units in Kruger Street.

The offering is the perfect investment opportunity.

Two of the six units have been recently refurbished and are all leased with a return of $1470 a week or $76,440 per annum.

The block of units has a listing price of $950,000 to $1.045 million. It will go under the hammer at 11am by Harris and Wood Real Estate.

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