Ballarat, Regional Victoria
Investors and home buyers seeking alternatives to Melbourne can find affordable character homes with good yields in Ballarat. This is one of the reasons Ballarat has experienced strong price growth over the last 12 months and, according to Moody’s Analytics, that growth will continue in 2019.
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 $280,000 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.