While public open houses and auctions are now once again off the agenda, the private inspection market is flourishing with new properties hitting the market.

READ MORE:

Ballarat Real Estate's Allister Morrison said just this week, it had listed 12 new properties for sale, on the back of a July where 79 properties were sold.

"We haven't had a vendor not want to go to the market," he said. "In fact, we had people calling us up on Monday morning after all the announcements on the weekend. We had a number of people call up to get appraisals on their property.

"I think people are understanding that this period is a defined period and at some point this period ends.

"The real estate market has proven over the first lockdown to be resilient and in fact in a growth phase. Despite all the uncertainty it still went up, you look at Canadian up 7.9 per cent in the quarter for example, a lot of other areas up 3.5 to 4 per cent in a period where common sense said it would go down."

Buxton Real Estate's Mark Nunn said a number of people would see the period of time as having less on the market.

"We expect that will be down 10-20 per cent of volume of sales," he said. "That said if a buyer is in the market looking to purchase, it's a great opportunity to buy.as there is less competition.

"Our sentiment is we've lived through it before, the community and market in general is an adjustment phase.

"The first time when it hit, there was a lot of fear in late March, this time around the fear is not there, that's more of an observation. The market is holding up well."

Mr Morrison said he believed regional areas were advantaged in someway in that it can view what is happening in Melbourne during stage four lockdown and adjust accordingly with what worked and what didn't if required.

"Stage four is still being worked out as we speak in Melbourne," he said. "I think Ballarat would get the benefits of understandings of what the Melbourne experience was.

"They're obviously still working out what type of inspections can be achieved, there's a thing about settling in this period of time, how to get the keys, removalists. Stage four would definitely have an impact on the market."

Mr Nunn agreed saying despite the general positively, it was still critical for Melbourne to move outside of its restrictions soon

"We want Melbourne out of lockdown, us out of stage three," he said. "We all understand it's a bigger issue than just us and we'll do our bit."

Real Estate Institute of Victoria president Leah Calnan said a number of issues still needed to be ironed out regarding stage four. "We know it's extremely frustrating for everyone. It's a challenge we all want to get under control," she said.

If you are seeing this message you are a loyal digital subscriber to The Courier, as we made this story available only to subscribers. Thank you very much for your support and allowing us to continue telling Ballarat's story. We appreciate your support of journalism in our great city.