BALLARAT is one of the top 10 investment areas in Australia according to results from leading property investment magazine, Australian Property Investor.
Ranked number seven in the top 100 towns and suburbs nationally, Ballarat’s high score is based on it being one of the best growth prospects for investors.
The magazine ranked the inner-city suburbs of Abbotsford and Collingwood at number one.
Affordability, population growth, strong employment, healthy rent returns and accessibility to Melbourne helped Ballarat score it’s top mark.
Ray White Ballarat Director Phillip Lee said the high ranking for Ballarat was well deserved and his office had seen a noticeable increase in out of town investors seeking investment property in Ballarat over the last six months.
He said Ballarat was appealing to investors with it’s low vacancy rate, excellent rental yields and Ballarat’s close proximity to Melbourne with dual lane freeway access and regular train services.
The magazine recommends buying period homes near the centre of town, while it suggests avoiding outer housing estates with no scarcity of land or housing.