Developers hope work on Yallambee Estate will begin next year.

It comes after three other developments have created more than 300 lots off Wollaston Road in the past eight years.

A $100 million country club, golf course and housing estate has also been mooted on the south side of Wollaston Road, opposite the proposed Yallambee estate.

Ray White Warrnambool director Fergus Torpy said the locally owned estate would offer stunning river and rural views.

"The development plan is with the council at the moment," Mr Torpy said.

"We're hoping for between 400 and 450 blocks and the amount of stages is yet to be confirmed."

Mr Torpy said the development had been promoted on social media and more than 150 people had registered interested in the new estate.

"The estate will have something we haven't seen in Warrnambool before - it will incorporate a playground and cafe precinct," he said.

Walking paths to take in the picturesque surrounds and a dog park are also expected to be included.

Mr Torpy said the land was owned by a Warrnambool family who was committed to using local contractors to complete the development.

"We're hoping to have the initial stage one works commence in early 2023," Mr Torpy said.

"It's a big growth corridor out there and it will be great to have a new high quality estate.

"The blocks are expected to range in size from 650-square metres to beyond 1200-square metres.

"It will cater for a range of different buyers."

Mr Torpy said there would be smaller blocks that may suit retirees, while there would be larger lifestyle blocks for families wanting some extra space.

"It's going to be very versatile and cater to a range of buyers," he said.

"We've had in excess of 150 pre-registrations, which shows the confidence and appeal in Warrnambool."

Mr Torpy said people could pre-register on Ray White Warrnambool's website.

However a site for the estate is expected to go live within four-to-six weeks.

The city is expected to have another new estate, with another parcel of land that will turned into 600 housing blocks and a retirement village on the market.

The Standard reported the 48-hectare lot along Aberline Road had already sparked interest from a large number of parties.

Biggin & Scott Land agent Frank Nagle said the land, which came under the East of Aberline Road Structure Plan, was still waiting on Victorian Planning Authority approval. "I can't quite work out why it hasn't been progressed faster," he said. "The government's saying all this stuff about wanting to alleviate supply issues and affordability yet they've been tinkering around with this thing forever."

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