Ararat house prices up 8% as out-of-town investors seek affordable homes

The price of a home in Ararat is on the up, with PropTrack data showing an increase in median house price by 8 percent over the last 12 months in the rural city. 

🖼️ The bigger picture: Brad Jensen, Director at Nutrien Harcourts real estate agency, told the Brolga the increase in Ararat comes down to investment.

🗣️: “The main part of the growth is about the $350,000 to $500,000 mark. It’s really sought after by out-of-town investors. We probably have the ripple effect from Ballarat due to our affordability,” said Jensen.

Last week, a home in Jensen’s portfolio - 2 Rotary Avenue - saw a staggering 16 buyers making offers on the property.

• “Only three were local,” said Jensen, “the rest were out-of-town buying the site unseen.” 

💲 So, what is your money buying? In Ararat, the median house price is $421,000. In the past 12 months, 224 properties sold after an average 57 days spent on the market. 

The Brolga collected a few examples of what’s on offer, using the median house price as a guide.

65 Elizabeth Street, Ararat

This three-bedroom cottage has an open-plan kitchen and ample storage space with two built-in wardrobes. Outdoors, the property features a bullnose verandah and thriving gardens with fruit-trees and a generous hedge. 

The price tag? $309,000 

51 Lambert Street, Ararat 

This California-style bungalow is spacious and boasts four bedrooms, two bathrooms, and a self-contained guest space with a kitchenette. The interior is simplistic, and the generous block size is mentioned as ideal for investors seeking a subdivision opportunity. 

The price tag? $420,000 - $460,000 

6 Montgomery Street, Ararat 

This property features an impressive array of print-pattern floors. While stylistically outdated, the spacious home and large offering of natural light allows for a lot of potential changes. There are three bedrooms and one bathroom, and a bus stop just outside the home that will take you to the centre of Ararat. 

The price tag? $320,000 - $330,000

25 Laidlaw Street, Ararat

This three-bedroom is open plan, with split-system heating and cooling in each bedroom. Several features in the kitchen and general home are recently updated, with room for further work if required. 

Unfortunately, the race-car bed pictured does not come with the house. 

The price tag? $380,000 - $395,000 

3 Hawthorn Street, Ararat

This home is closer to move-in ready, at only 10 years old with the required amenities laid out with two bedrooms, storage space, and centrally placed bathroom. The outdoor area is established with greenery and a space for entertaining guests. 

The price tag? $395,000 - $405,000 

2 Rotary Avenue, Ararat  

This home is walking distance to the centre of Ararat, with three bedrooms and a garden that comes with a vegetable patch, fruit trees and two storage sheds. It’s spacious, well-lit and modest. 

The price tag? $390,000 - $420,000

Header Image: Ararat Rural City Council