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Ballarat House Prices Remain Stable Sept Qtr

By Phillip Lee

The median house price in Ballarat remained stable at $320,000 for the September quarter 2016 according to figures released by the Real Estate Institute of Victoria.

Suburbs that performed well during the September quarter were Ballarat Central up 5.8% to $344,000, Ballarat North up 3.7% to $351,000 and Golden Point up 10.30% to $295,000.

Standout Suburbs Over The Last 12 Months

The best performing suburbs over the last 12 months were Brown Hill up 22.1%, Golden Point up 14.1% and Lake Gardens up 10.1%.

Top Five Highest Median Price Suburbs

The top five suburbs in Ballarat ranked by median house prices for the September quarter 2016 were Lake Wendouree ($657,500), Cardigan ($607,500), Lake Gardens ($490,000), Nerrina ($475,000) and Cardigan Village ($461,000).

Melbourne & Regional Victoria

Melbourne’s median house price has seen solid growth in the September quarter, up 3.2 per cent to $740,000.

Regional Victoria remained stable with the median house price increasing 0.4 per cent to $348,500.

The REIV’s latest quarterly results show a positive market for vendors in Melbourne – with solid price growth, high clearance rates and strong buyer demand.

Melbourne’s inner and middle suburbs were the main growth drivers in the September quarter with house prices in these regions up 4.2 and 3.5 per cent respectively.

REIV CEO Geoff White said that the top growth suburbs were widespread across the city – from Seaford in the outer south east to Williamstown and Werribee in the west.

He added that unit and apartment prices also increased across the city, up 2.1 per cent to $545,500.

Regional Victoria remained stable with the median house price increasing 0.4 per cent to $348,500.

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