VIC Ballarat Tip: The Capital of Western Victoria

My thoughts exactly. And I came across that by accident after looking into a land release in Learmonth, expecting the blocks to be reasonable, being 20min out of Ballarat, and they range between 937m2 - 4207m2 for ~$275K - $380K.

 

Being from Melbourne I'd happily pay that for a block that size.

 

How much would it cost to fix up this nightmare?
Could a lot of those damaged walls be asbestos sheeting?
https://www.realestate.com.au/property-house-vic-redan-136338102

 

Love it how the toilet is missing a wall and a secured PowerPoint but at least they have a toilet brush

 

Looks like plaster to me. Though hard to tell from photos.

 

Would someone please share some insights on this one? Big lot, vendor selling for the same price he paid 10 years ago... must be something terribly wrong. Also what about the "shopping centre" it mentions in the ad? Is it just fake news or rather solid? Many thanks!

23 Rodier Street, Eureka, Vic 3350 - Residential Land for Sale - realestate.com.au

 

This is the most recent article mentioning the future supermarket on the corner of Victoria St and Stawell St Sth:

'Mitigation will be necessary': Back to the drawing board on Victoria Street traffic lights

So, the development does look like it will go ahead. Sorry I can't give any insights into the land in Rodier St though.

 

"Ideal for dream home and shed"

Indicates to me there's a single dwelling covenant on it

 

Thanks folks, you guys are awesome. What's wrong with this one then? 12 Glazebrook street, Ballarat East, Vic 3350 - Residential Land for Sale - realestate.com.au Vacant block close to the CBD, not a big price tag but has stayed online for 2 months.

 

Thanks to Ko Ko for this thread and to all posters. It’s helped me enormously.

I’ve posted a question on the ‘investment strategy’ section of PropertyChat with the title ‘I went against the grain’.

I thought I’d mention it here because it involves Mount Pleasant near Ballarat and also a property in Bendigo, which I know many here have thoughts on this area.

if you feel so inclined, check it out and let me know what you think.

 

Article about the current and future growth pressures on Ballarat:

Is Ballarat's future housing planning adequate?

 

Looks like I was right about it being overpriced


^ vs this
https://m.realestate.com.au/property-house-vic-ballarat+east-136677766

I know which I'd take for living

 

A follow up article focusing on developers' perspectives of planning for both greenfield and infill developments going forward:

"...A 'tidal wave' of development is coming, and we need to prepare for it urgently..."

Ballarat's developers talk about growth and planning

 

They certainly don't want to just sprawl. The numbers around infill vs sprawl are interesting.

$320k to build an apartment is comarable to a house build price. That doesn't include car park which is another $40k. So $360k to build an apartment. From a price point, it's starting to make sense to start planning for infill, however prices need to keep rising before it's hugely profitable

 

Ballarat house prices hit record high, climbing by 14.5 per cent

 

Great news - it may be time to offload one!

 

I'm keen to buy it

We're still looking, ideally we'd like to buy near Ballarat Grammar, but some of these sellers want $450k

 

We've been quoted 580-600. Ballarat Central on the same side as St Pats and Clarendon.

 

Would you please be able to post the contents of the article on here? Not able to read it through the link.

 

This is the first part but I can't post the whole article or I will get moderated due to copyright issues.

"Ballarat real estate agents believe a lack of housing stock is driving growth in the city's real estate market with the latest Real Estate Institute of Victoria figures showing an almost five per cent increase on the last quarter.

The median house price in the City of Ballarat is now $475,000, up 4.6 per cent from $454,000 in the March 2021 quarter, a staggering 14.5 per cent from the June 2020 quarter, but behind the regional Victorian average of $560,000.

Regional Victoria's median house price alone grew by 10.5 per cent over the last quarter and almost 20 per cent over June 2020.

Some of Ballarat's most popular suburbs have seen even greater rises, with Ballarat Central increasing from $550,000 to $593,000 and Ballarat North increasing from $445,000 to $480,000."
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