Suburb Profile Report for Ballan VIC (3342)

Ballan House: Median price $379,500, Annual capital growth 6.49%, Number of sales 46, Weekly median advertised rent $285

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

Investment property in Ballan has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.43%

A 32.23% growth in median value for property investors in Ballan,3342 puts this suburb at number 349th in terms of best performing suburbs in VIC

Ballan, 3342 is offering VIC ‘s 489th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.

Often selling an investment property can take time, and in Ballan the average time real estate has been on the market is 132.78 days.

With the median price for a house in Ballan being $379500 and the advertised rent reaching $285 the gross rental yield for property investors calculates out to be 3.91%

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A tight-knit agricultural and pastoral town, Ballan is located on the Werribee River about 80km north-west of Melbourne. Though small, recording a population of just under 3,500, a regular train service means commuters can reach Melbourne in just one-hour and Ballarat in 20-25 minutes. The Western Freeway also lies near Ballan, by-passing it, but still increasing its accessibility to nearby towns.Full summary

A tight-knit agricultural and pastoral town, Ballan is located on the Werribee River about 80km north-west of Melbourne. Though small, recording a population of just under 3,500, a regular train service means commuters can reach Melbourne in just one-hour and Ballarat in 20-25 minutes. The Western Freeway also lies near Ballan, by-passing it, but still increasing its accessibility to nearby towns.

It’s self-sufficient, with a small shopping area on the main street, IGA supermarket, local preschool, doctor’s services, police station, and a primary school.

At the 2006 Census, the population’s median age was slightly above the state average (37) at 40 years. SQM Research predicts this trend to continue, forecasting the town’s median age to rise to 44 by this year compared to an expected state average of 39. This is reflective of the town’s family-oriented nature, with families making up 77.7% of households, according to Census figures.

ABS estimates also show population growth of 6% in the four years to 2009 in Ballan’s local government area of Moorabool, in another sign that now is probably a good time to buy in the town.

Rayner Real Estate manager Mark Dudley says recent housing developments to accommodate for this growth have widened the market in Ballan for incoming investors.

“There are a lot of new homes and we’re waiting on new subdivisions to start coming through in the next few months, which will open up opportunities for people to buy land,” Dudley said.

He recommends investors look for property in the central areas of town, such as in Simpson Street.

“Also, depending on the investor and their time-frame, you could pick up something with a bit of size about it that might allow for subdivision but that’s a different type of investor of course,” Dudley adds.

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HOUSE UNIT
$379,500 N/A
1.20% N/A
8.43% N/A
6.49% N/A
$285 N/A
46 N/A
3.91% N/A
132.78 N/A

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 2774
Median household income ($/weekly) 988
Median age of persons 41
Median housing loan repayment ($/monthly) 1426
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 389 14.0
    25-34 years 273 9.8
    35-44 years 355 12.8
    45-54 years 427 15.4
    55-64 years 363 13.1
    Others 967 34.9
    Age Group
    Census Count Percent(%)
    Registered Married 1055 52.4
    Not Married 744 36.9
    Defacto Relationship 215 10.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 2294 86.3
    Greece 19 0.7
    New Zealand 25 0.9
    United Kingdom 164 6.2
    Other 31 1.2
    Others 126 4.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 14 0.6
    Christianity 1767 71.8
    Judaism 10 0.4
    Other Religious Groups 11 0.4
    No Religion 650 26.4
    Others 9 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 94 10.3
    $400-$599 120 13.2
    $800-$999 100 11.0
    $1,000-$1,249 91 10.0
    $1,500-$1,999 99 10.9
    Others 406 44.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 845 39.9
    Employed, worked full-time 742 35.0
    Employed, worked part-time 385 18.2
    Employed, away from work 85 4.0
    Unemployed, looking for work 63 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 137 11.3
    Professionals 172 14.2
    Technicians & trades workers 211 17.4
    Clerical & administrative workers 192 15.8
    Labourers 140 11.6
    Others 360 29.7
    Occupation
    Census Count Percent(%)
    Pre-school 38 6.3
    Infants/Primary 240 39.6
    Secondary 211 34.8
    Technical or Further Educational Institution 38 6.3
    University or other Tertiary Institutions 63 10.4
    Others 16 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2473 95.1
    Flat, unit or apartment 85 3.3
    Caravan, cabin, houseboat 27 1.0
    Semi-detached, row or terrace house, townhouse 10 0.4
    Improvised home, tent, sleepers out 5 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 456 45.2
    Fully owned 370 36.7
    Rented 177 17.5
    Other tenure type 6 0.6
    Tenure Type
Census 2011, ABS
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