The fire has burnt 74,000 hectares, roughly the size of Singapore, and is expected to burn for weeks to come.
Community meetings will be held across the region today, as residents in Halls Gap and Pomonal begin to return to their homes as the fire threat reduces.
Cooler conditions have come as a reprieve for locals in nearby towns including Pomonal, Moyston and Willaura.
The intense heat paired with severe, damaging winds, with peak gusts reaching 100km/h, created dangerous conditions.
According to Victoria Police, authorities responded to six illegal campfire callouts on Boxing Day, many of which were discovered in regional Victoria.
Multiple Victorian towns have been urged to monitor conditions as several watch and act warnings remain in place.
Firefighters are expected to take advantage of milder weather today, with crews working to reinforce containment lines and extinguish any remaining hot spots.
While the weather has improved, authorities warn conditions are still dangerous for people near the bushfire.
It’s believed about eight structures have been lost, including a property, with the damage still being accounted for.
Several sheds in Moyson and one non-residential structure in Pomonal have also been lost.
Emergency services are expected to undergo further impact assessments when it is safe for personnel to enter the fire-impacted area.
The bushfire is travelling from Grampians National Park in an easterly direction and has impacted a communications tower at Mt William, meaning internet and mobile services could be affected.
About 163 people have attended assistance relief centres, with two remaining open in Ararat and Stawell.
Government disaster assistance is available for communities affected by the fires.
The disaster relief will apply to residents living in four local government areas: Ararat, the southern Grampians, the northern Grampians and the Macedon Ranges Shire.
“We know this is a challenging time for all communities, and all communities will be supported through this period,” Deputy Premier Ben Carroll Carroll said.