Sell with Confidence
Read More

Ballarat’s House Prices On The Move

By Phillip Lee

Ballarat’s new median house price for the March Quarter 2018 is $352,550, up 2% over the quarter and up 8.5% over the last 12 months.

The top 10 Ballarat  suburbs for median price growth suburbs last 12 months are Buninyong up 27.4% to $535,000, Black Hill up 24.8% to $375,000, Soldiers Hill up 20.3% to $439,000, Mt Helen up 18.7% to $418,500, Newington up 16% to $435,000, Lake Gardens up 14.9% to $500,000, Ballarat East up 13.3% to $320,000, Redan up 12% to $280,000, Miners Rest up 11.6% to $375,000 and Ballarat Central up 11.2% to $422,500.

The median price for houses in regional Victoria showed a 1.4% increase, tipping it beyond $400,000, while the median for apartments and units slipped back to just under $300,000.

The March residential rental vacancy rate for Ballarat is 1.4%, the lowest since 2011. Ray White Ballarat current vacancy rate is 0.19%.

Middle Melbourne’s million-plus March median

New REIV data for the three months ending 31 March 2018 reveals that the median house price in Middle Melbourne* exceeded seven figures for the first time – $1,034,000 – an increase of 4.2 per cent from the previous quarter.
Overall, the median house price across metropolitan Melbourne rose for the eighth consecutive quarter, up 4.4 per cent to $855,000. This represents an increase in the median Melbourne house price of 10.9 per cent over the past twelve months.

Melbourne’s metropolitan apartment median price broke the $600,000 barrier, rising 2.4 per cent to $607,000. Continued population growth and interest rates maintained at historically low levels mean that first time home-buyers, more seasoned purchasers and investors are taking opportunities in a market that is longer on demand than supply.

There were some fluctuating results at the more affordable end of the market. Despite strong annual growth, there were some small decreases in median prices for the quarter, enabling opportunities for market entrants. More generally, the median house price in Melbourne’s outer suburbs rose two per cent over the quarter to $678,500.

Source: REIV

Up to Date

Latest News

  • Ray White Now June 2022

    We now have a new federal government and with that comes change in leadership, policies and the way the country is run. The changing of the guard also comes at an interesting time for our economy and our property markets, with significant change in both since the start of the … Read more

    Read Full Post

  • Ballarat Vacancy Rates for May

    The residential rental vacancy rate in Ballarat has increased to 1.4% in May according to the latest figures released by the Real Estate Institute of Victoria. Ballarat’s median rent for houses in May has dropped slightly to $380 per week and the median rent for units/townhouses has increased to $325 … Read more

    Read Full Post