Ballarat Property Market Update 1st Half 2026
Ballarat, Victoria, offers a perfect balance of heritage charm and modern amenities, with excellent schools, parks, and a thriving arts scene. Its affordable housing and easy access to Melbourne make it an ideal place for professionals and families to live.
Property Trends
In Q4 2025, Ballarat recorded a median house price of $593,250 and a median unit price of $434,000. This represents an annual (Q4 2024 – Q4 2025) median price growth of 15.2% for houses and of 19.8% for units. Comparing Q4 2024 and Q4 2025, total sales surged by 30.7% (to 788 sales in Q4 2025) for houses and increased by 16.9% (to 166 sales in Q4 2025) for units, indicating a high demand for both property types. This is especially true for houses. This suggests that now is an ideal time for house‑owners to capitalize on their investments. For buyers, there is a limited number of ready‑to‑sell stock expected in the 2026 construction pipeline. Thus, buyers need to act fast.
Project Development
Ballarat will see approximately $539.1M of new projects commencing in 2026. Although there are several residential projects planned for 2026, the number of townhouses (68), units (158), and stand-alone houses (44) is not enough; especially as there were 788 houses and 166 units sold in Q4 2025. This increases the potential of an undersupply in the available stock market, which will push up prices for all property types.
Rental Market & Growth
House rental yield in Ballarat was 3.4% as of December 2025, higher than Melbourne Metro (3.0%). This is paired with a 7.0% growth in the median house rental price in the past 12 months to Q4 2025, to $460 per week; along with a -11.9% decline in the number of houses rented (to 402 houses in Q4 2025). This indicates an undersupplied house rental market in Ballarat. With a more affordable entry price compared with Melbourne Metro, Ballarat is an attractive investment alternative.
Vacancy Rates & Property Investment
Ballarat recorded a vacancy rate of 0.8% in December 2025, slightly above Ballarat LGA’s average of 0.6% but much lower than Melbourne Metro’s 2.0%. Vacancy rates have decreased in the past 12 months, which suggests a tighter rental market. Furthermore, a 0.7% vacancy rate is significantly below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, suggesting quicker occupancy of rental homes in Ballarat. This is a conducive environment for investors, even with higher median house and unit sales prices (thus, entry price) in the past 12 months to Q4 2025.
