With a capital gain of 2.02% for the last 12 months, Ballan, 3342 has performed for property investments than its average annual 6.82% property growth over the last 5 years.
While Ballan,3342 ranked number 297th in VIC for increase in median house value (annualised) increase, it is ranked 399th over the last 5 years.
The most recent median price for Ballan is $479500, with sellers offering an average of -7.89% off the asking price.
Ballan, 3342’s gross rental yield is 3.80%
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Ballan, 3342. Typically our figures indicate that -3.48% is being offered, which puts this VIC suburb at 932th most discounted overall in Australia.
With the median price for a house in Ballan being $329000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 5.06%
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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.