VIC Ballarat Tip: The Capital of Western Victoria

Discussion in 'Where to Buy' started by Ko Ko Naing, 22nd Sep, 2018.

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  1. Ken Navington

    Ken Navington Member

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    Ive heard Joseph st has some commission housing (although its a big road). For an IP potentially okay.
     
  2. The Y-man

    The Y-man Moderator Staff Member

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    I keep reading the title to this thread and thinking the rubbish tip at Ballarat is the Capital of Western Victoria.... :eek::D

    The Y-man
     
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  3. Tony3008

    Tony3008 Well-Known Member

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    Thus my earlier request to the mods to change the thread title: Ballarat Tip: The Capital of Western Victoria [VIC]
     
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  4. Toon

    Toon Well-Known Member

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    Child care boom a sign of Ballarat's rapid growth

    'Ballarat is in the grips of a child care boom with millions of dollars being invested in new centres to cater for the massive influx of young families moving to the city...

    Committee for Ballarat chief executive Michael Poulton said the boom in child care centres was another signpost of the city's rapid growth.

    "Demand for regional living, demand for land in Ballarat continues to just go ballistic and with that has to come infrastructure, things like child care and schools are critical," he said.

    While government figures put Ballarat's estimated growth rate at roughly two per cent, Mr Poulton argued the true increase was probably double that, at closer to four per cent, if not higher.

    "Talking to some of the guys in the real estate and development space they are talking three to four per cent growth and saying even that is still conservative."

    "We are not seeing any slowing of that growth."...

    ...Mr Poulton said figures showed the growth was largely made up of professional couples with young families looking to move for greater space, greater access to open spaces, and less congestion.

    "That continues to be a really strong element of the market, that demographic of young families moving to regional Australia. There's that desire to still be close to Melbourne ... but to have a lifestyle with space and lack of congestion in a city large enough to have a good health care system and good jobs."'​
     
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  5. Ken Navington

    Ken Navington Member

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    You can count my family as one of these statistics. Just had 2 girls start their first day at daycare today :)
     
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  6. PropNewbie73

    PropNewbie73 Active Member

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    I see a lot of families moving to Ballarat to receive an elite education at a fraction….at Ballarat Grammar etc.

    I reckon Ballarat is very promising in that aspect…..
     
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  7. Toon

    Toon Well-Known Member

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    Housing records smashed in Ballarat. What is your suburb worth?

    "BALLARAT'S median housing price has skyrocketed nearly 20 per cent in just one year as property costs surge to record levels.

    That is the takeaway from the December 2021 Real Estate institute of Victoria statistics which shows every Ballarat suburb has now reached a median milestone of over $400,000.

    Ballarat's median house price is now $522,000, up 19.4 per cent from the same time last year.

    And according to one of Australia's leading population experts, it's the millennial market which is driving the increase.

    Despite the surging prices, Ballarat still remains remarkably affordable compared to the rest of the state with regional Victoria now with a median of $601,000..."
     
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  8. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Before COVID hits, you can't get anything decent in Sebas for under $300k. 2 years fast forward, decent ones are at mid-400k now.

    I don't own any in Sebas, but I personally think it's got amenities, good infrastructure and it's gentrifying.
     
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  9. VICPER

    VICPER Well-Known Member

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    @Ko Ko Naing out of interest, what sort of tenants living in your investment properties? i.e working professional? students? ......
     
  10. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Retailer, receptionist, council staff, plumber... Used to have a teacher, a geologist before... :)
     
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  11. sqe

    sqe Well-Known Member

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  12. Matyd

    Matyd Well-Known Member

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    All happening in Ballarat :)
     
  13. Truly Exotic

    Truly Exotic Well-Known Member

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  14. MrBubbleHead

    MrBubbleHead Member

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    I'd like to hear people’s thoughts on this too
     
  15. Luca

    Luca Well-Known Member

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    Isn`t it just a matter of numbers? Development net revenue - Development cost = 20% of dev cost minimum?
     
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  16. Toon

    Toon Well-Known Member

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    Ballarat defies lockdown pain to continue strong population growth

    "The latest regional population numbers show Ballarat has avoided the drastic changes and accompanying pressures experienced by metropolitan areas over the pandemic year.

    The data released by the Australian Bureau of Statistics on Tuesday showed Ballarat remained among the strongest regional Victorian cities in terms of growth with a steady population increase of 1.7 per cent for the 2020-2021 period.

    Of comparable LGAs, Bendigo saw an increase of 1.2 per cent, Geelong 1.8 per cent and Warrnambool had a slight increase of 0.2 percent, whereas Shepparton and Mildura decreased 0.4 per cent and 1.2 per cent respectively.

    While the LGA of Melbourne dropped 7.5 per cent, outer-metropolitan Melton jumped 3.9 per cent...

    The data shows an estimated 113,183 people now live in the Ballarat LGA...The council predicts Ballarat's population will reach 185,000 by 2040."
     
  17. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Ongoing population growth, promising economy and record-low unemployment rate are the things that stop me think about selling my Ballarat IPs during this boom time.
     
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  18. Cousinit

    Cousinit Well-Known Member

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    Yes, why sell anyway? Let time be your friend.
     
  19. Reddy

    Reddy Well-Known Member

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    Anyone doing 2 lot sub divisions in Ballarat ? Has the council taking lot of time are they quick to respond to the sub division applications ?
     
  20. Mateus

    Mateus New Member

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    First time investor here too. Did you end up buying IP in these areas? Happy? Any insights you can share? Cheers!
     
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