Ballarat house prices are up by 16% - what are you getting for your money?

When people are talking about the economy, they’re also talking about property. And just like the rest of the country, the price of a house in Ballarat is steadily increasing. Mostly. 

🖼️ The bigger picture: A lot of factors feed into Ballarat’s housing spike, like investors turning to regional Australia for their portfolio purchases or the widespread belief you get more for your cash once you leave Melbourne.

• “There’s a huge influx of investors, especially interstate, that are looking in that $400,000 to $650,000 area and driving competition.” Damian Shackell, Residential Sales Consultant at PRD Ballarat, told the Brolga.

🏡 What does this mean for houses in Ballarat: Suburbs like Ballarat Central, Ballarat East, and Wendouree are seeing an upturn in the cost of properties, while suburbs like Soldiers Hill are seeing the opposite. 

Shackell said this is generally due to the heritage, older homes in the suburb. 

• “It’s the weatherboard, the shared driveways. Investors want things as close to move-in ready as possible, and a small time between taking ownership and bringing in income,” said Shackell. “And if you’re buying through a self-managed super fund, there’s a limited amount you can spend on improvements to bring the home up to compliance standards.” 

The breakdown: The increase in cost is measured across a period of 12 months, landing at a median figure for what is considered average. 

• The median house price in Ballarat Central, according to PropTrack, is $660,750. That’s an increase of 15.9 percent in the last 12 months 

• The median house price in Wendouree sits at $495,000. That’s an increase of 13.8 percent in the last 12 months  

• The median house price in Ballarat East sits at $515,000, up 10.3 percent in the last 12 months

• The median house price in Soldiers Hill is sitting at $573,000, a decrease of 4.1 percent in the last 12 months

Bang for your buck: The Brolga had a browse of what these statistics mean for your cash, and what kind of home the median asking price will get you.

Ballarat Central: 

802A Sebastopol Street, Ballarat Central VIC 3350 

This property has three bedrooms and one bathroom wrapped in the package of an updated 1890s miner’s cottage with 9-foot ceilings, original fireplaces, and a large garden. 

It’s roughly one kilometre to the CBD and is expected to fetch around $649,000 to $713,000. 

225 Lyons Street North, Ballarat Central VIC 3350 

This property has three bedrooms, heritage flair, and a lush garden teeming with greenery. It’s minutes from the beloved Lake Wendouree, the local hospital and the general Ballarat CBD. The indicative price is listed as landing somewhere within $639,000 to $659,000

430 Raglan Street South, Ballarat Central VIC 3350 

This home will set you back somewhere between $695,000 to $745,000 with three bedrooms, two bathrooms, and a small outdoor entertaining area with a sprinkle of grass behind. It’s well-lit, and of course, right next to the CBD. Plus, if you like millennial grey it’s a winner. 

Wendouree: 

60 Lake Street, Wendouree VIC 3355 

You move from the gold rush to the 1970s when it comes to Wendouree architecture, and this property is no exception with exceptionally bright wall colours, and three bedrooms with one bathroom. It’ll set you back $500,000 to $550,000. 

1226 Grevillea Road, Wendouree, VIC 3355

This property is advertised specifically to investors and the development-minded. It’s modest, clean, and fairly decent sized with three bedrooms and one bathroom. You’re looking at $475k for this house. 

12 Hyacinth Grove, Wendouree, VIC 3355

The colour wheel continues with this property, with red, blue, and green details. It’s a lot cheaper than the rest, at $435,000, with a decent backyard and three bedrooms.

Ballarat East: 

3 Gordon Street, Ballarat East, VIC 3350 

A three-bedroom, two-bathroom house with respectable garden space and two parking spots. There’s a bath, too.. This will set you back between $500,000 to $550,000.

619 Wilson Street, Ballarat East, VIC 3350 

This classic home is a four-bedroom, two-bathroom house with renovated charm and two stories. The backyard is large, and bonuses include ample storage and a wine cellar. This will also set you back somewhere between $500,000 to $550,000.

14 East Street North, Ballarat East VIC 3350 

This property is closer to the advertised median house price for the suburb at $525,000. 

There’s no garden, instead offering a paved courtyard. This home has one bathroom and two bedrooms. 

Soldiers Hill: 

107 Brougham Street, Soldiers Hill, VIC 3350 

The great thing about Soldiers Hill is the extra personality in what are typically heritage homes. This property, at $550,000 - $580,000, offers a snippet of that with colourful tiles and lots of wood panelling. You’re looking at 1 bathroom, three bedrooms, and an actual picket fence. 

6 Brougham Street, Soldiers Hill, VIC 3350 

Two bedrooms, one bath, and a few stained glass windows. This is a property you’d envision when visiting the grandparents, with some extra updates that modernise the space. It’ll set you back somewhere between $575,000 and $615,000.

212 Ligar Street, Soldiers Hill, VIC 3350 

This property is leafy and eclectic, advertised as perfect for first-time buyers and investors. Three bedrooms, one bathroom, and lots of windows framed by greenery, it isn’t a bad start. You’re right in the average here with a $570,000 price tag.