Property value increases in Ballan have tracked just higher than the VIC average of 1.54% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Ballan has increased when compared to the 5 year average annual rate.
Vendor discounting in Ballan is giving property investors an average Vendor Discount of around -4.02%. This puts suburb at number 520th in VIC when ranking the most discounted suburbs.
A $350 per week rent on the median house gives suburb investors a gross yield of circa 3.89%, without taking into account capital value appreciation, which has been averaging out at 6.68%.
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Gold rush stop banks on low prices
Median house price: $380,000
Three-year growth: 15.5%
Rental yield: 4.1%
Once regarded as a valuable staging point for coaches during the Victorian gold rush, Ballan is now a highly affordable suburb that serves as the main administrative centre of the Shire of Moorabool.
The suburb did not see much growth over the past year leading up to July 2017, with prices increasing by only 0.8%. Nonetheless, the average vacancy rate dropped significantly in that same period from 1.3% to just 0.4%, suggesting that there is interest in this area.
Ballan is close to the Western Freeway, linking it to Melbourne, while the Geelong Ballan Road provides a path to Geelong. Melbourne can also be reached by train via the Ballan railway station, which is a short distance from the town centre.