Suburb Profile Report for Ballarat VIC (3350)

Ballarat House: Median price $360,000, Annual capital growth 5.50%, Number of sales 73, Weekly median advertised rent $280

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

Source: CoreLogic

  • House Report
  • Expert Report

Investment property in Ballarat has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 5.42%

A 16.13% growth in median value for property investors in Ballarat,3350 puts this suburb at number 643th in terms of best performing suburbs in VIC

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.71% offered to property buyers. Sellers in Ballarat itself are offering an average vendor discount of -5.63% to real estate investors.

Residents and property investors in Ballarat have been waiting around 75.3 days to sell a property.

Ballarat is 235th on a list of best yielding suburbs for rents in VIC with a 4.04% return

Andrew Lewis Information supplied by:

Andrew Lewis
Colliers International

M 0418 508 908
O (03) 5327 0707

W www.colliers.com.au
E andrew.lewis@colliers.com
Once famous for it's gold fields, Ballarat is far more diverse these days. Located in Central Victoria, due west from the Melbourne CBD, Ballarat is an educational and health hub.
Two university campuses complement four private high schools; while well funded and recently constructed public and private hospitals provide employment and ensure quality health services in the area.
The local economy is driven in a large way by a number of recognisable companies, such as McCains, Freighters, Mars and Haymes Paint, which employ a fair chunk of the local population.
Ballarat is linked to Melbourne by the Western Highway and a fast train.Full summary

Selling points: Good growth over a number of years without the volatility found in some market places

Most sought after properties: Commercial investments in main street locations for under $2,000,000; or large Victorian houses

Most common properties: Ballarat is famous for its large intact Victorian housing stock

Top amenities: Ballarat has very strong educational and health based service sectors and thus creates an easy place to live. There are four private secondary schools, two universities and a private and public hospital, both being well funded and recently constructed.

Local industry and business: McCains, hospitals, tourism (including Sovereign Hill and Lake Wendouree) Mars, Freighters, Haymes Paint
 

Recent changes: Lake Wendouree is full and activity is returning on mass

Best streets: Webster Street and Lake Wendouree are the prime upper end residential areas, but Insigna golf course is developing very nicely, as has Lake Gardens

Public transport: The fast train to Melbourne could be faster and run more frequently and this is improving with time

Main arteries: Ballarat is one hour from Melbourne and Geelong and is on the road to Adelaide, while the beaches along the Bellarine are all within 90 minutes. Tullamarine and Avalon are less than one hour from Ballarat, so linkages across western Victoria are very strong.

Information supplied by:

 Andrew Lewis

Colliers International

(03) 5327 0707

0418 508 908

andrew.lewis@colliers.com

www.colliers.com.au

 

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Metrics i HOUSE UNIT
$360,000 N/A
-2.44% N/A
5.42% N/A
5.50% N/A
$280 N/A
73 N/A
4.04% N/A
75.3 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (H), Above average (U)
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