Morning brains trust. Currently researching areas for my 1st IP in Ballarat, fundamentals look good to me, like the investment the Vic Gov is making with their GovHub etc. Looking around the 400k mark +-10%. Currently researching Ballarat Central, what other areas should I widen my search to? What are must haves for investment grade property in Ballarat ? What yields are you receiving ? Many thanks for your advice. Rob
Ballarat Central or Ballarat East. Try to go one of the classics- federation style or anything built before the 1950's. Don't buy units.
Yes. I agree. I live in Ballarat East and that would be my pick. I would also consider Black Hill, Brown Hill, Golden Point, Canadian, Mount Pleasant and parts of Redan (the parts bordering Ballarat Central).
Anywhere in Ballarat Central with a good land content will beat anything, but it won’t be cheap, especially when it is renovated. Scarcity of land in central areas will always put you in front of others, compared to those in the west. These are must-haves: Detached house At least 3 bedrooms Large garage/shed Central Heating or split A/C heating Close to amenities, shops and central areas Attributes on individual property may differ from one to another though such as condition of the house, street appeal, land slope, busyness of street, etc.
Never understood the attraction of wendouree Unless by the lake which the price rise is dramatic.. When I was driving up and back to Central. A few times a day from wendouree, I noticed the distance and time. Felt like ages away
I believe the same happened to the east in northern part of Ballarat Central, to the south in Newington and to the west in Lake Gardens. They are all red, surrounding Lake Wendouree suburb, as in the image attached. The only part left in yellow is at the north, which is the best part of Wendouree between Howitt St and Norman St.
I mean the attraction to Wendouree is just because of its affordability, compared to other directions around the Lake. Especially for home owners, it’s becoming more of lifestyle choice to be able to live close to the Lake. It’s a different story for investment purpose, as yield-wise, it’s not looking good at all.
Wendouree has a train station, huge shopping centre, homemaker centre, large commercial precinct on Howitt St, and three freeway exits. Not to mention huge blocks. Ballarat locals like it there as long as it’s not ‘The West’ (aka west of Gillies St). It tends to be passed over by Melbournites because with the exception of a few houses in Essex/Shelley/etc streets, it doesn’t have the heritage homes that Ballarat is known for. It just doesn’t feel as ‘Ballarat’ as Ballarat Central and East do.
Hi @MikeyBallarat, What are your thoughts for Bonshaw. Not much option for established houses though there are few OTP Florian, Ploughmans, Grandeur.
Bonshaw is too far for a regional city like Ballarat. Locals (both tenants and owner occupiers) prefer living somewhere central.