Ballarat, Regional Victoria
Ballarat was recently identified as the fastest-growing inland city in Australia by the Australian Bureau of Statistics and, according to some forecasters, can expect more strong price growth through to 2022.
Proximity to the state capital and housing affordability are the key factors behind Ballarat’s popularity with investors and home-buyers seeking alternatives to Melbourne. First home-buyers in particular are making their presence felt.
Ballarat is one of Australia’s strongest regional cities. It thrives through a diverse economy, low unemployment, a growing population and proximity to Melbourne, making it a popular commuter city.
With the State and Federal Governments planning to spend billions on upgrading road and rail links to Ballarat, including improved connections to Melbourne airport, commuting will become easier.
Several construction projects like GovHub, the hospital expansion, the train precinct and new land estates are drawing in tradesmen who need accommodation, so vacancies are low.
Ballarat suburbs have median house prices ranging from $290,000 to $495,000, emphasising the city’s appeal as an affordable lifestyle alternative to Melbourne - and one where the property market has become increasingly busy.
This report covers Ballarat, Alfredton, Ballarat Central, Ballarat East, Ballarat North, Black Hill, Buninyong, Delacombe, Redan, Sebastopol, Soldiers Hill and Wendouree.