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Ballarat House Prices Jump 21.1% Over 12 Months

By Steph Horsburgh

Ballarat’s median house sale price jumped 3.6% during the June 2022 quarter resulting in a 21.1% increase over the last 12 months according to figures released by the Real Estate Institute of Victoria.

Our median house price has again reached new record high of $570,000, up from $550,000 in the March 2022 quarter.

“The Ballarat market remains very buoyant with demand from buyers continuing to outstrip the supply of properties for sale in Ballarat” said Ray White Ballarat Director Phillip Lee. “We are continuing to see strong demand for both city and lifestyle properties as the strong flow of people escaping the city life to regional Victoria continues” Mr Lee said.

The top Ballarat suburbs for growth during the June quarter were:

Nerrina $758,750 up 14.1%
Soldiers Hill $672,500 up 9.8%
Bonshaw $570,000 up 8.3%
Lake Gardens $780,000 up 8.0%
Lake Wendouree $1,199,383 up 7.8%

Over the last 12 months the top ten performing growth suburbs have been:

Soldiers Hill up 38.7% to $672,500
Lake Wendouree up 37.9% to $1,199,383
Lucas up 37.0% to $630,000
Miners Rest up 34.9% to $627,500
Invermay Park up 30.9% to $677,500
Delacombe up 27.8% to $575,000
Ballarat Central up 27.6% to $753,000
Canadian up 25.5% to $572,500
Alfredton up 23.8% to $660,000
Winter Valley up 23.7% to $600,000

Looking back five years ago Ballarat’s median house price in June 2017 was $335,000 and 10 years ago in September 2012 $285,000.

Metropolitan Melbourne has had a decrease of -2.9% for the June quarter with a median price of $1,081,000 for houses, down from $1,113,500 for the March quarter. Units and apartments also decreased -1.3% with a median price of $670,500, down from $679,000.

Over the past 12 months, Regional Victoria has seen an increase of 21.6%, the current median house price is $625,000.

If you are thinking of selling or would like an update on the value of your property call the Ray White Ballarat team for a FREE no obligation market appraisal on 03 5333 4444 or email ballarat.vic@raywhite.com.

Data source: REIV

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