Ballan, 3342 ranked 74th in VIC when comparing growth in median property values or capital gain over the last 12 months. Ballan is one of 2099 in our list for VIC
The five-year average increase in median property values for Ballan,3342 has given property investors a potential capital gain of 53.13% across each of those five years.
Property buyers and investors in Ballan 3342 should be seeing an average reduction in asking price of around -7.04% . This means that Ballan is holding prices well when compared to other suburbs in VIC.
With the median price for a house in Ballan being $490000 and the advertised rent reaching $365 the gross rental yield for property investors calculates out to be 3.87%
Ballan3342 is located in VIC which offers an average discount of -6.31% to property investors. Ballan itself is showing figures that indicate -2.70% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 1.00 sales per month, which equates to 12 per year.
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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.