Ballarat
Why Ballarat?
Ballarat is Victoria’s largest inland city and the third-largest regional centre in the state, located about 115 km northwest of Melbourne. Known for its rich gold-rush heritage, Ballarat has a diverse economy spanning healthcare, education, manufacturing, retail, tourism, and logistics. It supports around 45,800 local jobs, with a Gross Regional Product of over A$8.5 billion. Major investments like the Ballarat Health and Knowledge Precinct, Ballarat West Employment Zone, and station upgrades continue to enhance its growth as a key regional hub.
Investment Highlight:
Median house price: A$510,000
Median unit price: A$362,000
Rental yields: 3.6% for houses and approximately 4.3% for units
Vacancy rate: 1.6%, indicating steady tenant demand
Market activity: Rising transaction volumes highlight strong buyer interest
Major infrastructure projects: Health precinct expansions, Regional Rail Revival, new industrial estates and housing developments, and fast rail links to Melbourne
Population growth: Currently about 114,000 residents, projected to reach 144,000 by 2036
Approximate Cost:
Median house price: A$510,000
Median unit price: A$362,000
Median weekly rent: A$420 for houses
Rental yields: 3.6% (houses), 4.3% (units)
Vacancy rate: 1.6%
Days on market: Around 32 days for houses and 26 days for units
Ideal For: Ballarat is ideal for property investors looking for affordable options with strong yields and growth potential. It also suits first-home buyers and families who appreciate its livable suburbs, well-regarded schools, rich history, and easy commute to Melbourne. Developers and businesses will benefit from local infrastructure projects, employment precincts, and long-term regional demand across healthcare, education, logistics, tourism, and retail sectors.
