Melbourne buyers can still look at homes in regional areas, but not at open houses

The state government has moved to clarify lockdown measures which will allow potential buyers from metropolitan Melbourne to continue to seek and purchase homes in regional Victoria.

For Ballarat's real estate agents, that means it is almost business as usual with open houses able to continue for regional buyers for up to 20 people at a time, and Melbourne buyers able to view homes on an appointment basis.

Ballarat Real Estate general manager Allister Morrison said the ability to still sell to Melbourne buyers would keep the regional market strong.

During the pandemic so far, regional centres such as Geelong, Bendigo and Ballarat have maintained solid figures of sales and prices as more and more city dwellers seek a more relaxed life in the regions.

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"Ballarat has a price attractiveness," Mr Morrison said. "We're seeing a good mix at the moment and investors are still out and about.

"It's hard to make a dollar in the bank, or on equity, and the returns in Ballarat are good. Vacancy rates are still pretty low compared to what you are seeing in Melbourne.

"Ballarat is still growing in terms of population. It's a pretty safe place to land an investment."

Real Estatie Institute of Victoria (REIV) president Leah Calnan said many members were left confused following the state government's decision to enforce Stage Three restrictions in Metro Melbourne and Mitchell Shire and not the rest of regional Victoria.

"Housing is an essential service, and we are relieved that people are able to travel within the state to inspect a property that may wish to rent or purchase." Ms Calnan said.

"The state government has confirmed to the REIV that the process of obtaining property will carry on, a buyer from Wodonga can travel to Melbourne to privately inspect a unit in St Kilda, while a person from Footscray can do the same in Ballarat."

Mr Morrison said the opportunity also existed for local buyers to get a foothold in the market.

"Local buyers are very active in the regions at the moment," Mr Morrison said. "Last weekend in Ballarat alone we had 265 buyers come through and that's not including private inspections."

But he said lifestyle factors were a big driver of the market right now.

"If in the past you were five days in the city, now all of a sudden you might only need to be there two to three days, which makes regional Victoria very attractive," he said.

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