News

Suburb Snapshot: Lake Gardens

By Sarah Wilson

The size of Lake Gardens is approximately 1.2 square kilometres and has one park covering nearly 16.5% of total area.

The population of Lake Gardens in 2011 was 1,665 people and by the 2016 Census the population was 1,708 showing a population growth of 2.6% in the area during that time. Lake Gardens is a relatively new suburb on the western rural-urban fringe of Ballarat which was the site of the former Lakeside Mental Hospital. Located near Lake Wendouree and directly behind the Ballarat Botanical Gardens from which the suburb draws its name.

Lake Gardens is almost entirely residential, laid out in street hierarchy with a centrepiece ornamental lake. Work began in early 2000 on the 650-metre circumference artificial lake to be the centrepiece surrounded by prestige homes, filled by bore and storm water.

CoreLogic data indicates that the predominant age group in Lake Gardens is 10-19 years with households in Lake Gardens being primarily couples with children and are likely to be repaying $1,800 – $2,399 per month on mortgage repayments and in general, people in Lake Gardens work in a professional occupation. In 2011, 69.6% of the homes in Lake Gardens were owner-occupied compared with 68% in 2016.

Source: Ballarat Times News Group

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