Bendigo real estate agents are predicting a busy spring, as the COVID-19 pandemic does little to dampen interest in the local property market.
Lifestyle properties are in short supply and high demand, with Longlea, Lockwood, Marong and Sedgwick among the hotspots.
Tweed Sutherland First National director Matt Leonard said he expects the interest in one to 50 acre properties to remain high.
"When people from Melbourne can start to freely inspect properties again and decide to make that tree change, we'd expect to see an increase on already high demand," Mr Leonard said.
PH Property director Brad Hinton said locations within 25 minutes of Bendigo's CBD are sought after.
"There isn't enough semi-rural property at the moment," Mr Hinton said.
"Even smaller acreage in Elmore and Goornong is proving very popular," Mr Hinton said.
Restricted movement between metropolitan Melbourne and Bendigo has created an ideal buying environment for local first home buyers, Mr Leonard said.
"With Melbourne people not being able to physically come to Bendigo and inspect properties, it's a good opportunity for first home buyers to enter the market with less competition from investors," he said.
The strength of the Bendigo market is epitomised by the sale of the same property within a 12-month period, DCK director Matt Bowles said.
"It is not often you get to sell the same property twice in one year," he said.
"Last year in Flora Hill, a property sold for $400,000 and without much improvement, has sold for $435,000," he said.
"That growth sums up the market perfectly."
Properties ranging from $300,000 to $500,000 is where the most competition lies, Mr Leonard said.
"All sectors of that market have been strong and once the price exceeds $500,000, there are less buyers in that pool," he said.
"The competition is definitely in the entry-level price bracket, where you see first and second home buyers and investors.
"It will be great to see more stock on the market and at the same time, hopefully that reflects eased restrictions to make for a very positive remainder of 2020."
Semi-modern weatherboard and cream brick veneer properties are so popular, they're selling prior to going to market, Mr Bowles said.
"Many investors are hanging on to their properties and not selling because vacancy rates are so low," he said.
A caveat to the state government's rental evictions memorandum, extended until March 28, 2021, is that if a property is currently leased and sold, it is sold tenanted.
"This is only a problem for a minority of people, for properties that aren't suited to investment, but are occupied," Mr Hinton said.