Property investors who have had real estate in Ballan, 3342 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 10.42%
If we look at median property appreciation over just the last three months, Ballan has given property investors a paper return of 3.41%. This puts Suburb as 206 on a list of fastest fasting appreciating suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Ballan is offering property investors an average of -5.08. This rate of discount on properties puts Suburb at number 510th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 5.50 sales per month, which equates to 66 per year.
Using the current median advertised rental of $325 and the average annual increase in value of a median property of 7.04%, investors should hope to achieve an overall return of 3.99%
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.Full summary
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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.Close