Property value increases in Ballan have tracked just higher than the VIC average of 7.88% over the last 12 months.
Taking the average capital gain, or increase in median house value, Ballan,3342 has racked up an average of 11.99% over the period. This ranks it number 1366th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Ballan 3342 should be seeing an average reduction in asking price of around -3.04% . This means that Ballan is holding prices well when compared to other suburbs in VIC.
A $320 per week rent on the median house gives suburb investors a gross yield of circa 3.81%, without taking into account capital value appreciation, which has been averaging out at 7.48%.
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