Ballarat’s Median House Price Continues Record High

Ballarat’s median house price has reached another new high of $415,000, according to June 2020 quarter figures released by the Real Estate Institute of Victoria.

“This is great news for Ballarat and reflects what we have been experiencing on the ground” said Ray White Ballarat Director Phillip Lee.

Mr Lee said given the restrictions agents operated under including not being able to conduct open for inspections from late March until mid May, the result showed the continued resilience of the Ballarat real estate market and cemented Ballarat as a great city to invest in.

The top Ballarat suburbs for growth over the June quarter were:-

Canadian up 7.8% to $412,500
Newington up 5.9% to $516,250
Mount Clear up 4.6% to $417,500
Buninyong up 4.4% to $590,000
Golden Point up 3.9% to $402,500

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

Buninyong up 19.2% to $590,000
Ballarat Central up 13.6% to $535,000
Lake Wendouree up 12.4% to $860,000
Mount Helen up 11.4% to $462,500
Mount Clear up 9.9% to $417,500
Brown Hill up 9.3% to $470,000
Black Hill up 9.0% to $501,500
Alfredton up 8.9% to $490,000
Sebastopol up 8.7% to $326,000
Newington up 8.0% to $516,250

Looking back Ballarat’s median house price in June 2015 was $317,250 and in June 2010 $255,000.

Metropolitan Melbourne has had a decrease of -3.5% for the June quarter with a median price of $864,000 for houses from $895,500 for the March quarter. Units and apartments also saw a decrease, -2.5% with a median price of $621,000 from $637,000.

Over the past 12 months, Regional Victoria has seen an increase of 3.7% with a median house price of $420,000.

Data source: REIV