Ballarat House Price Growth Outstrips Melbourne

By Phillip Lee

Ballarat’s house price growth has outstripped Melbourne with the quarterly median house price up 2.1% over the June quarter and up 8.1% over 12 months compared to Melbourne declining 0.6% over the June quarter and up just 7.5% over 12 months.

Ballarat’s new median house price is now $360,000, up 2.1% from $352,500 in the March Quarter. Ballarat has experienced strong buyer activity over the last 12 months with first home buyers taking advantage of the $20,000 first home owner grant for new homes and the stamp duty exemption for established homes up to $600,000. The Ballarat real estate market has further benefitted from an influx of Melbourne and out of town buyers relocating to Ballarat to live and invest.

TheTop 10 Ballarat median price growth suburbs last 12 months are Lake Gardens up 29.9% to $565,000, Buninyong up 23.8% to $535,000, Newington up 18.4% to $450,000, Wendouree up 14.3% to $280,000, Ballarat Central up 14.2% to $447,500, Miners Rest up 13.7% to $381,000, Redan up 13% to $305,000, Ballarat East up 11.9% to $324,500, Mount Helen up 10.1% to $399,000 and Lucas up 9.9% to $394,000.

Source: REIV

Up to Date

Latest News

  • Ray White Now – Real Time Market Update 21st September 2020

    Welcome to this week’s real time residential market insights, we’ve created this document to provide clarity to all our customers on what is happening in the market now. As Australasia’s largest real estate group, selling one in every nine homes across Australia, we are uniquely placed to provide our clients with the … Read more

    Read Full Post

  • Ballarat Vacancy Rate Continues To Fall

    The August residential rental vacancy rate for Ballarat has fallen to 2.2%, down from 2.4% in July and 2.6% in March according to the latest figures released by the Real Estate Institute of Victoria. This is good news for Ballarat investors and proves how resilient the Ballarat rental market has … Read more

    Read Full Post