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PRD Ballarat  →  Research Hub  →  Ballarat Research Factsheet 2nd Half 2017

Ballarat Research Factsheet 2nd Half 2017

The Ballarat property market recorded a median house price of $357,500 for houses and $269,000 for units in Q3 2017, representing an annual price change of 8.0% and 19.6% respectively. This makes Ballarat a premium market when comparing median house prices to the surrounding suburbs in the Ballarat City LGA where house prices increased by 3.2% to $325,000 and unit prices by 11.8% to $252,000. In the Ballarat* property market existing and prospective investors, as well as owner-occupiers alike can be assured of a promising future where they benefit from stronger capital growth figures.

The Ballarat property market recorded a median house price of $357,500 for houses and $269,000 for units in Q3 2017, representing an annual price change of 8.0% and 19.6% respectively. This makes Ballarat a premium market when comparing median house prices to the surrounding suburbs in the Ballarat City LGA where house prices increased by 3.2% to $325,000 and unit prices by 11.8% to $252,000. In the Ballarat* property market existing and prospective investors, as well as owner-occupiers alike can be assured of a promising future where they benefit from stronger capital growth figures.

Average days to sell in Ballarat* has improved over the past twelve months, currently at 65 days for houses (-5.6% decrease) and 90 for units (-2.6% decrease) in Q3 2017. This suggests a more competitive market where good quality stock is in high demand. Average vendor discount for houses in Q3 2017 sits at -4.0% and at -4.9% for units, which represents an environment in which sellers are willing to lower than the first list asking price. This provides good news for buyers looking to enter into a market, as they benefit from both affordability as well as solid positive capital growth.

The Ballarat market will tempt investors not only with its affordability but also rental yields, currently at 4.1% (house) and 5.4% (unit). Median rents in the Ballarat property market increased for both houses and units over the past twelve months to Q3 2017, currently at $300 (5.3% increase) and $265 (6.0% increase) per week respectively. Rental average days on market has increased for houses increasing slightly from 29 to 31, and has decreased for units from 28 to 27. These indicators suggest a conducive environment for strong future investment returns and for long term investment.

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