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Ballarat Prices Surge 20% In 2021

By Steph Horsburgh

Ballarat’s median house sale price jumped 5.0% during the December 2021 quarter resulting in a 20.0% 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 $525,000, up from $500,000 in the September 2021 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 December quarter were:

Soldiers Hill $591,000 up 20.6%
Invermay Park $652,500 up 18.6%
Ballarat North $554,900 up 11.5%
Mount Pleasant $480,000 up 11.5%
Delacombe $528,000 up 11.2%

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

Invermay Park up 41.8% to $652,500
Delacombe up 30.4% to $528,000
Mount Pleasant up 28.6% to $480,000
Ballarat North up 27.6% to $554,900
Wendouree up 27.1% to $445,000
Ballarat Central up 26.9% to $695,062
Sebastopol up 26.3% to $420,000
Golden Point up 24.4% to $510,000
Lucas up 23.9% to $570,000
Miners Rest up 23.9% to $552,500

Looking back five years ago Ballarat’s median house price in December 2016 was $320,000 and 10 years ago in December 2011 $290,000.

Metropolitan Melbourne has had an increase of 4.2% for the December quarter with a median price of $1,125,000 for houses, up from $1,080,000 for the September quarter. Units and apartments also increased 2.4% with a median price of $692,000, up from $676,000.

Over the past 12 months, Regional Victoria has seen an increase of 27%, the current median house price is $600,500.

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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