VIC Ballarat Tip: The Capital of Western Victoria

Hi All

Interested in Ballarat. Looking at suburbs such as Black/Brown Hill, Ballarat North, Ballarat Central, East Ballarat etc.

Have been looking intermittently since around December, having made offers on 2 properties to no avail.

Looking at the $550-700k range for a 4bed PPOR

Interested to know if anyone has an opinion on how the current pandemic/economic situation may impact the Ballarat market (as opposed to Melbourne which is the only commentary I can find at present!)?

Recent weeks have seen a big drop in supply (maybe a slight rally over the last week), so it’s a bit hard to really gauge what is happening, let alone forecasting.

Appreciate we’re in uncharted waters, however thoughts/opinions would be welcome.

Cheers
KR

 

Ballarat leads the regional Victorian house price boom: Hotspotting's Terry Ryder

"Regional areas of the state have been boosted by buyers out of Melbourne, including home buyers seeking a more relaxed and affordable lifestyle, while in some cases working remotely for a city business. The coronavirus shutdown period which forced people to work from home is likely to further enhance this trend.

Our Winter survey of sales activity reveals that Regional Victoria has remained quite resilient in terms of sales activity, in the faces of the Covid-19 impacts. There has been only a minor reduction in the number of locations with growing sales activity, compared to the results of our Autumn survey...

This is shown by the many individual suburbs and towns throughout Regional Victoria which have recorded median price growth above 10% in the past 12 months.

Ballarat has been particularly outstanding, with price growth headed by the suburbs of Ballarat Central (up 24%) and Lake Wendouree (23%). Brown Hill, Redan, Alfredton and Sebastopol have all increased between 10% and 12%. Other Ballarat suburbs have increased 7-8%...

Bendigo is behind Ballarat in the market cycle so we think has more upside, looking to the future. Ballarat has been a great performer in the past 2-3 years, as the price growth figures show, but is past its peak, with only one suburb remaining with growing sales activity."​

 

I would pick Brown Hill. Check out Alfredon insignia estate.

 

For a PPOR in that price range, I would look in the original Urquhart subdivision in Ballarat Central. Probably the best PPOR area if you like period homes close to town.
Roughly bounded by Sturt St to the north, Pleasant St to the west, Doveton St to the east, Sebastopol St to the south.

Out of curiosity, where are you guys moving from?

 

Yes, really do like that area, and for me this is ‘quintessential’ Ballarat, followed closely by Soldiers Hill.

In saying that, the knock on most properties in this area is lack of land. We’re moving from Melbourne and looking for a bit more space, so a few of the bigger blocks in Black/Brown Hill and Ballarat North appeal for that reason.

 

You can get 600s in that area pretty easily - particularly east of Drummond St. but if you’re looking for more land Brown Hill would be the go. Beautiful area, close to Melbourne and not too far from town. Immense owner occupier appeal.

 

Yeah absolutely on our radar. A few more 4br options than other areas too.

I think we’re lucky in that there are a whole host of options available in the price we’re looking for.
What are your thoughts on the current climate and possible impacts on the Ballarat marker, compared to The greater Melbourne area?

 

McCain Foods Australia goes big on solar, in bid to quit coal by 2025 | RenewEconomy

 

My personal opinion is that regional markets like Geelong, Ballarat and Bendigo will impact less than the Melbourne market. Less virus cases, less lockdown restrictions, less impact on auctions and open homes.

No new increase in Ballarat COVID-19 numbers, aged care resident confirmed as existing case

 

Any suburbs in Ballarat that should be avoided for an IP?

 

Not necessarily to avoid but the worst suburb is the commission house triangle in wendouree

Delacomb is pretty bad too

 

Leawarra Crescent to be specific, and courts that run off it.
Same goes with Frances Crescent in Ballarat East

 

Hi Guys,

I’m planning to buy my first Property investment and someone suggested to buy in Ballarat because of future growth. What do you reckon in Pinnacle Estate or Goldenvue Estate?

 

Too far from the city centre.

 

estates a no no no for growth

 

I think that would be fair to say.

Geelong greater area has run pretty hard the last year or so but still lots of growth drivers.

 

Go back over the early posts on this thread. The locals in the know have given very helpful info on where to buy and where to avoid.

 

Hi all, interested in purchasing my first investment property in Ballarat in the Black Hill, Soldiers Hill, Golden Point and Ballarat East areas. I will live in the property for 12 months (and do some renovations) before renting it out. Budget is $350-400k for the initial purchase.

As I am not local, are there any streets to avoid in these areas? Thanks

 

If you have a poke around at the start of the thread there's plenty of information shared from the boys in the know where to buy and avoid. After buying last year I can say I can say the information was a massive help.