Sell with Confidence
Read More
News

Year Starts With Slight Median Price Increase

By Phillip Lee

The Ballarat real estate market has started 2015 with a slight increase in the median price for the March quarter according to figures released by the Real Estate Institute of Victoria.

Ballarat’s new median house price is $310,000, up 0.7%from $307,750 in the December quarter and showing a 3.3% increase over the last 12 months.

Suburbs in the City of Ballarat that recorded strong growth for the March quarter were Ballarat Central up 4%, Ballarat East up 4.7%, Buninyong up 4.9%, Canadian up 12.1% and Newington up 3.4%.

Over the last 12 months, the suburbs that have recorded the strongest annual growth are Ballarat East 8.4%, Buninyong 14.3%, Canadian 14.2%, Mitchell Park 26.8%, Newington 8.6% and Redan 6.3%.

In regional Victoria the median house price fell slightly to $341,000, down 1.2 per cent on December 2014 quarter figure of $345,000.

The median house price for metropolitan Melbourne for this year’s March quarter was $688,000, up 3.5% on the December quarter’s $664,500 median. That’s a year-on-year change of 10%.

The median price for a home in Melbourne’s inner suburbs has topped $1.1 million for the first time.  The $1,164,500 median price for the first three months of this year was up from $1,099,000 in the December quarter – a six per cent increase.

The March quarter median price of a home in the middle ring suburbs was $791,000, up 4.4 % on the December quarter, while in the outer suburbs the $503,500 median was up 0.2 %.

Data Source: REIV

Up to Date

Latest News

  • Ray White Now June 2022

    We now have a new federal government and with that comes change in leadership, policies and the way the country is run. The changing of the guard also comes at an interesting time for our economy and our property markets, with significant change in both since the start of the … Read more

    Read Full Post

  • Ballarat Vacancy Rates for May

    The residential rental vacancy rate in Ballarat has increased to 1.4% in May according to the latest figures released by the Real Estate Institute of Victoria. Ballarat’s median rent for houses in May has dropped slightly to $380 per week and the median rent for units/townhouses has increased to $325 … Read more

    Read Full Post