The Ararat office was recognised as the number one office for growth in Victoria and Tasmania at the annual event, while David Jennings and Michael Fratin were awarded an Elite Award for being ranked as top agents.

Elders Ararat director Michael Fratin said the awards "reinforced" the branch's efforts over the past 12 months.

"It was a really good award to win as it showed we are progressive in growing as a real estate business," he said.

"It is some good recognition for our hard work on the back of some pretty good conditions in real estate over the last 12 months."

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Jennings and Fratin joined the business in 2015 and became directors and franchise owners of the business.

Within the last 12 months the pair have expanded, acquiring and rebranding an office in Stawell.

Mr Fratin said the growth in the area contributed to the branch's success at the awards night.

"We have had a really consistent 12 months which we have never probably seen conditions like that in real estate before," he said.

"There has been around a 30% increase in median house value in Ararat, it is one of the highest growth areas in regional Victoria.

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"It has been unprecedented in real estate, certainly the pandemic has had an impact on it."

Mr Fratin believed the pandemic had helped shine a light on living in regional Victoria.

"COVID-19 has probably opened the eyes of a lot of Melbournians in terms of what regional living has to offer," he said.

"On the back of the pandemic we have seen a lot of investment and investor activity in Ararat which has stimulated the property management side of things as well.

"People are now appreciating regional living."

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