Suburb Profile Report for Ballan VIC (3342)

Ballan House: Median price $465,000, Annual capital growth 6.98%, Number of sales 53, Weekly median advertised rent $350

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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Property investors who have had real estate in Ballan, 3342 should be 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 10.01%

While Ballan,3342 ranked number 74th in VIC for increase in median house value (annualised) increase, it is ranked 495th over the last 5 years.

LACK OF BUYER INTEREST may well be the reason that Ballan is offering property investors an average of -5.61. This rate of discount on properties puts Suburb at number 540th in terms of most discounted suburbs in VIC

A $350 per week rent on the median house gives suburb investors a gross yield of circa 3.94%, without taking into account capital value appreciation, which has been averaging out at 7.42%.

Information supplied by:


October 2017

M
O

W
E

Gold rush stop banks on low prices

Postcode: 3342

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.

Metrics i HOUSE UNIT
$465,000 N/A
3.33% N/A
10.06% N/A
6.98% N/A
$350 N/A
53 N/A
3.91% N/A
57.340427 N/A

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Below average (U)
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Demographics
Total population 2774
Median household income ($/weekly) 988
Median age of persons 41
Median housing loan repayment ($/monthly) 1426
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 389 14.0
    25-34 years 273 9.8
    35-44 years 355 12.8
    45-54 years 427 15.4
    55-64 years 363 13.1
    Others 967 34.9
    Age Group
    Census Count Percent(%)
    Registered Married 1055 52.4
    Not Married 744 36.9
    Defacto Relationship 215 10.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 2294 86.3
    Greece 19 0.7
    New Zealand 25 0.9
    United Kingdom 164 6.2
    Other 31 1.2
    Others 126 4.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 14 0.6
    Christianity 1767 71.8
    Judaism 10 0.4
    Other Religious Groups 11 0.4
    No Religion 650 26.4
    Others 9 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 94 10.3
    $400-$599 120 13.2
    $800-$999 100 11.0
    $1,000-$1,249 91 10.0
    $1,500-$1,999 99 10.9
    Others 406 44.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 845 39.9
    Employed, worked full-time 742 35.0
    Employed, worked part-time 385 18.2
    Employed, away from work 85 4.0
    Unemployed, looking for work 63 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 137 11.3
    Professionals 172 14.2
    Technicians & trades workers 211 17.4
    Clerical & administrative workers 192 15.8
    Labourers 140 11.6
    Others 360 29.7
    Occupation
    Census Count Percent(%)
    Pre-school 38 6.3
    Infants/Primary 240 39.6
    Secondary 211 34.8
    Technical or Further Educational Institution 38 6.3
    University or other Tertiary Institutions 63 10.4
    Others 16 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2473 95.1
    Flat, unit or apartment 85 3.3
    Caravan, cabin, houseboat 27 1.0
    Semi-detached, row or terrace house, townhouse 10 0.4
    Improvised home, tent, sleepers out 5 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 456 45.2
    Fully owned 370 36.7
    Rented 177 17.5
    Other tenure type 6 0.6
    Tenure Type
Census 2011, ABS
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