VIC Ballarat Tip: The Capital of Western Victoria

land in sebas has already gone up,the rise started about 3 years ago

as for the footscray of Ballarat, nice comparison!

 

Hello again!
House now listed.
10 Lambert Street, Wendouree, Vic 3355
Happy to answer any ?s. It will be open for inspection on Sat.
Sharon

 

I currently live in Delacombe very close to DTC. This area has lots of potential IMO.

 

I'm sure this is true.
I have always liked Wendouree - I am biased of course because I currently live here (house on market) and have investment property in this suburb.
The reason I like the area is simple - the lake (huge plus), Ballarat Grammar, Howitt St shopping precinct (increasingly becoming more and more popular with medical based clinics), sporting facilities (huge basketball centre, badminton, tennis, swimming etc), train station, Stocklands and its proximity to the city and freeeay access to Melb. Everything is here.
We're not moving far from our current location because of all of the above!! My two cents worth

 

Where is ballarat on the property clock atm would you guys say it has peaked ?

 

Hey Rosh, sorry I missed your post. May be a little late but we bought in Ballarat central. Had a couple of maps printed off cruising around looking at areas recommended by the posters on here which the info supplied was spot on. Its already rented so am not complaining.
Chose Ballarat central due to location near station , cafes etc but everyone will have different ideas. Best of luck.

 

What’re rental yields on a typical house like? Sorry if I’ve missed those posts

 

Thanks for the update!

 

I'd say 10:30 - 11:00. I don't think it's peak yet. I thought it could be at peak mid last year. Given the loosening lending environment and the low rate environment, I think the growth will continue. But who knows how further it will go.

 

The rental market is tight, all the rents on my properties in Ballarat have gone up approx 10% over the last 12 months. Houses on the market 2-3 weeks at the most.

 

Fair few vacant rental properties on the market currently but would guess that's down to the Christmas break.

 

There is still a lot of capital moving to Ballarat from Melbourne - both in the form of real estate as well as businesses. I was recently told of two Melbourne based businesses (law firms) that have either purchased a Ballarat business or have opened a new office there.

The effect of GovHub has not been felt yet either. That will be a few thousand new employees either looking to buy or rent in the area and also live (spend) and support local business in the area too.

I would say in terms of capital flows, Ballarat is near 6.30-7pm on the clock. Real estate may have it's own clock but capital is only just beginning to move into the regionals at a more serious pace. My view is that capital flows into Ballarat and Bendigo will only accelerate from here and build into any firm announcement of modern regional infrastructure plans.

 

capital flow can change very quickly though
the real estate market doesnt change anywhere near as quick,

a few negative market indicies and the sentiment changes very quickly, local economy wise

 

Totally agree with that. I believe the effect of all the completed projects will be a huge factor for the growth for sure.

 

Hi All,

Thank you for those whom have actively contributd to this invaluable thread on Ballarat. Special mention to Ko Ko Naing for the original post. Such great coverage. This was part of the reason why I have decided to take the plunge and purchase my 1st IP. I like Wendouree based on some of your feedback. However find it hard to decide given the huge difference in price range. Take Sharon's property for example. Sold for $410k. Another nearby on 6 Elizabeth St for $415
k. However then there are those rangeing from as little as $280k and median price of up to $390k. I like something similar to Elizabeth St where it's already renovated and ready to be leased. Any thoughts on where Wendouree to buy? I know west of Gillies is not recommended due to the housing commission estate. So is it ideal to purchase in the perimeters as highlighted by the map Ko Ko made in his original post? Thanks for your help.

 

Not sure if your locally based and have the time to cruise around Ballarat but all the perimeters mentioned in these threads are pretty much spot on.

 

Not local. Melbourne based. But first time investor. Appreciate your thoughts.....I read through the threads you also recently made a purchase. How is this going and where did you buy if you don’t mind sharing.

 

Hey, also first time investor not comfortable splashing out a huge amount of cash to buy in Melb. Was as already thinking of Ballarat before stumbling across these threads.
Ended up buying in Ballarat Central mid 300,00. Very surprised how fast things were moving before Christmas, we missed out on a few we were keen on due to not pulling our finger out. Price range quoted by agents was fairly true compared to Melb. Easy drive from Melbourne, have to say that Ballarat has definitely grown on us.

 

How do people feel about Golden Point?

 

Avoid streets with flower names in Wendouree I was told! I love the look on taxi driver's faces when you discuss Wendouree west.
I spoke to one real estate agent in Ballarat just last week. 3 years ago there were 2000 properties on the market at this time of year. At the moment only 500. A lot of deals being done off market, ( is that the term ? ) that is to say, something comes up, the agent already has a list of people to call, doesn't even go on the internet.
The thing I like about Ballarat is the agents are happy to have a yarn and discuss conditions even to rank novices like me. I had some interviews with agents and they were super helpful about matters not really related to the topic.