A Bendigo real estate agent has said that in times of uncertainty, people have historically looked to put their money into real estate.
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Tweed Sutherland First National director Matt Leonard believes the combination of all-time low interest rates and stock market volatility isn't necessarily bad news for the local real estate market.
"Prior to coronavirus, Bendigo was already a very buoyant market with a shortage of stock.
"Some vendors may decide they want to hold off on putting their property on the market, which will mean there is even less supply," Mr Leonard said.
It remains too early to determine the impact of coronavirus on Bendigo real estate, according to Mr Leonard.
"There are still people who are working with timelines who have sold one house and need to buy another.
"It will be interesting to see if there will be less property to come onto the market in the coming weeks, in an already robust market," he said.
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The Mitchell Street agency has taken a number of precautions to deal with the coronavirus pandemic, including in their reception area, where a distance of 1.5 metres separates receptionists from clients and a temporary desk installed for people to leave documents.
Tweed Sutherland First National principal Craig Tweed said the temporary changes help the agency undertake its essential functions.
"The business of real estate continues and it's essential that we support clients who are selling their homes as well as the needs of our tenants and landlords," Mr Tweed said.
Non-essential routine rental inspections have been deferred, with open homes continuing, with appropriate contact precautions and social distancing, with more private inspection appointments being made.
Real Estate Institute of Victoria chief executive Gil King said the industry is not immune to this global crisis and is following the recommended guidelines to ensure open house inspections and auctions can continue safely.
"Each agency is running under their own set of guidelines, with some having elected to enforce a no handshake policy, while others are limiting inspections to one family at a time," Mr King said.
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