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Ballarat Median House Prices June Qtr 2016

By Phillip Lee

The median house price in Ballarat for the June quarter 2016 is $320,000 according to figures released by the Real Estate Institute of Victoria.

The Ballarat median price has remained relatively stable finishing 2015 at $320,000 then increasing to $322,000 for the March quarter.

Suburbs that performed will for the June quarter were Alfredton up 0.9% to $380,000, Ballarat East up 1.8% to $280,000, Brown Hill up 0.7% to $342,500, Canadian up 1.3% to $361,000, Cardigan Village up 1.3% to $471,250, Golden Point up 0.9% to $267,500, Lake Gardens up 1.3% to $485,000, Lake Wendouree up 14.7% to $780,000, Newington up 5.5% to $355,500 and Wendouree up 2.0% to $255,000.

There has been solid price growth in Melbourne in the June quarter, defying a slowing economy and moderating national market. In the three months to June 30, Melbourne’s median house price increased 3.6 per cent to a record high $725,000 – the largest price growth since September 2015.

Growth was widespread across Melbourne and at both ends of the market – from Toorak to Wyndham Vale and Roxburgh Park. Double digit growth was experienced in Camberwell, Prahran and Richmond. Significant growth was also recorded in affordable suburbs – Hillside in the city’s outer North West, St Albans, Sunshine West and Sunbury. There have been fewer property listings for the quarter, down by around 300 weekly across Melbourne in comparison to last year. While fewer sellers are putting their homes on the market, prices are still extremely solid.

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