Two of Bendigo's leading real estate agents have welcomed the return of open homes, albeit with some restrictions still in place.
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McKean McGregor principal Glenn Rea said open homes are an important tool in the real estate trade.
"We are excited to have the opportunity to have open homes with up to 10 people at a time," Mr Rea said.
On Tuesday at 11.59pm, the state government moved to stage three coronavirus restrictions.
This led to open homes and auctions being permitted with up to 10 people at a time, instead of by private appointment or not at all, respectively.
Mr Rea said there were positive aspects to the previous restrictions invoked six weeks ago.
"We found more people were doing their homework around a property and those inspecting tended to be very interested," Mr Rea said.
DCK director Matt Bowles said the agency has two open homes scheduled tomorrow.
"We will be using sanitiser and asking for names and phone numbers at the entrance," Mr Bowles said.
Extensive photo and video tours have helped people make decisions about wanting to inspect and buy homes amid the pandemic, according to Mr Bowles.
"We have been showing qualified buyers through properties," Mr Bowles said.
Mr Rea and Mr Bowles are in agreement the Bendigo market tends to hold well amid global crises.
This is in light of a predicted dip in metropolitan house prices and a surge in vacancy rates in some Australian capital cities.
"We don't experience the highs of price increases like they do in metro areas, but we don't experience the lows," Mr Rea said.
"Historically, after an economic downturn, Bendigo has plateaued with its prices."
Mr Bowles said the Bendigo market is very solid.
"Our residential rental vacancy rate is still 0.5 per cent and that hasn't changed during this pandemic," Mr Bowles said.
The attractive median house price in Bendigo compared to other regional centres, such as Ballarat and Geelong, makes it an attractive place to live, according to Mr Rea.
The median house price in Bendigo for the March quarter was $496,000, with Ballarat's median price $525,000 and Geelong's $720,000.
"Bendigo has terrific employment and prospects for investment," Mr Rea said.
"I think we will see a new wave of buyers who understand they don't need to live in Melbourne."
"With cash and interest rates and occupancy rates at record lows, it is also an attractive time to be an investor."
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