Sell with Confidence
Read More

Ballarat’s Median House Price Up 10.8% Over 12 Months

By Sarah Wilson

Ballarat’s house price growth has outperformed Melbourne with the median house price in Ballarat increasing 10.8% over the last 12 months compared to Melbourne’s increase of just 5% according to figures released by the Real Estate Institute of Victoria. Ballarat’s quarterly median house price rose 4.5% over the September quarter whilst Melbourne’s median price declined 6.2% over the same quarter.

Ballarat’s new median house price is now $376,100, up from $360,000 in the June Quarter. Ballarat has experienced strong buyer activity over the last 12 months with first home buyers taking advantage of the $20,000 first home owner grant for new homes and the stamp duty exemption for established homes up to $600,000. The Ballarat real estate market continues to benefit from an influx of Melbourne and out of town buyers relocating to Ballarat to live and invest.

The Top 10 Ballarat median price growth suburbs over the last 12 months are Lake Gardens up 35.6% to $610,000, Wendouree up 23.5% to $305,000, Buninyong up 16.7% to $502,000, Canadian up 15.9% to $380,000, Redan up 15.8% to $320,000, Ballarat East up 15.3% to $337,200, Miners Rest up 14.5% to $395,000, Mount Helen up 14.5% to $427,000, Ballarat North up 13.5% to $391,000 and Lucas up 12.6% to $395,000.

Over the past 12 months, Regional Victoria has outperformed Melbourne with a 9.1 per cent increase in the median house price. In Outer Melbourne, the median house price rose 7.1 per cent and the unit median rose 9.8 per cent.”

The REIV’s September quarterly data report revealed that the median house price in Melbourne remained unchanged at $834,000 and the unit median increased 0.2 per cent (2.6 per cent over the 12 months) to $640,000.

Data source: REIV

Up to Date

Latest News

  • 2020 – The Year to Remember

    Our results for December 2020 were fittingly as remarkable and unique as the 11 months prior, putting an exclamation mark on a record-breaking year. In our final chapter of 2020, we wrote a total of $6.1 billion in unconditional sales in December, up a staggering 60.7 per cent on the … Read more

    Read Full Post

  • Ray White Now – Real Time Market Update 12th January 2021

    Welcome to this week’s real time residential market insights, we’ve created this document to provide clarity to all our customers on what is happening in the market now. As Australasia’s largest real estate group, selling one in every nine homes across Australia, we are uniquely placed to provide our clients with the … Read more

    Read Full Post