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

By Sarah Wilson

Ballarat’s house price growth has outperformed Melbourne with the median house price in Ballarat increasing 12% over the last 12 months compared to Melbourne’s increase of just 1.4% according to figures released by the Real Estate Institute of Victoria. Ballarat’s quarterly median house price rose 1.7% over the December quarter whilst Melbourne’s median price declined 3.7% over the same quarter.

Ballarat’s new median house price is now $386,500, up from $380,000 in the September 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 Mount Pleasant up 26.2% to $370,000, Wendouree up 25.7% to $320,000, Golden Point up 21.3% to $370,000, Invermay Park up 19.1% to $465,000, Mitchell Park up 18.8% to $313,650, Black Hill up 14.9% to $420,000, Redan up 14.0% to $325,000, Canadian up 13.7% to $380,000, Ballarat North up 12.9% to $395,000 and Sebastopol up 11.9% to $285,250.

Over the past 12 months, Regional Victoria has outperformed Melbourne with a 5.5% increase in the median house price.

The December quarterly report shows Melbourne’s median house price is $796,500 and a unit median price of $589,000.

Data source: REIV

Up to Date

Latest News

  • Ray White Now – Real Time Market Update 21st September 2020

    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

  • Ballarat Vacancy Rate Continues To Fall

    The August residential rental vacancy rate for Ballarat has fallen to 2.2%, down from 2.4% in July and 2.6% in March according to the latest figures released by the Real Estate Institute of Victoria. This is good news for Ballarat investors and proves how resilient the Ballarat rental market has … Read more

    Read Full Post