THE housing market around Australia might be flat-lining faster than the COVID-19 line, but it's regional centres like Ballarat that continue to buck those trends as more and more people seek the quieter life.
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While much of the country is facing a downturn in its housing market, cities like Ballarat and Geelong continue to see solid growth.
According to CoreLogic, Ballarat has shown a median increase of 5.5 per cent in the past year and even in the last quarter when you would have expected a downturn, prices have still climbed 1.6 per cent to an average of $443,890.
READ MORE: Open houses resume as restrictions are eased
Property analyst Eliza Owen said while Melbourne had experienced the largest decline of any capital city in the past month, that was not being felt in regional centres.
"Traditionally, market downturns across capital city markets may have eventually drawn demand back to the capital cities when prices become more affordable," Ms Owen said.
"However, in the current downturn, a significant loss in income and the rise of remote work and study may incentivise people to stay in regional areas.
"Regional areas in reasonable commuting distance to capital cities may benefit the most from this trend, should workers look to have a blend of working from home and in the office once restrictions are eased."
Buxton Real Estate's Mark Nunn said there was no doubt the Ballarat market had remained strong, even during the downturn.
"Because this has happened with the adjustment of working from home, there are more people in our city now, and there are now more looking to move to Ballarat," he said.
Mr Nunn said one of the biggest changes came in April when open for inspections were outlawed which meant properties were not being listed as often. But he said since you've been allowed up to 20 people at a time in a house, interest had been high.
READ MORE: Real estate sales surge in rural areas.
"It's an extremely good time to sell because right now there is less on the market," he said. "The people have chosen to sell are getting better prices because the demand is still there.
"One thing we have noticed is the acreage sector is buoyant. There is a high demand for rural properties in areas towards Creswick, Invermay. Smythes Creek, Haddon, Ross Creek. Pretty much anywhere on the outskirts of Ballarat is going strong."
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