An Insight Into Ballarat’s Fastest Growing Suburbs
It’s obvious that Ballarat has a booming property market so at Jens Veal we’re here to give you profile of the fastest growing suburbs in the area. Ballarat Central’s suburb profile1 includes some interesting insights such as the fact that, at $310 per week, it has the most affordable median rent price of the suburbs we compare in this article. In wider Ballarat 29% of people own their house outright, surprisingly higher than the purchasing rate of 28%2. We have provided a targeted Ballarat suburb review aimed to highlight the exciting opportunities the city holds.
Soldiers Hill
Soldiers Hill has a median buy house purchasing price of $444,000 and a rental price of $320 per week, making it one of the most desirable suburbs in Greater Ballarat. For an upmarket place to live or a more sizable investment, this suburb is projected to only get stronger.
Alfredton
Alfredton has $420,000 as the average selling price and with one of the highest rental medians of $360 per week, it is very attractive to prospective investors. It’s largest age group is 5-14 years, at 15.9% and married couples make up 55.7%3 of the residency, meaning that it’s a lively suburb with lots of young families, access to facilities and with growth in its future.
Delacombe
In Delacombe the median rental price is $345 per week and has an average buying price of $342,000, making it very easy to get into the market for your first investment property. When looking for houses for sale in Ballarat, this up and coming suburb is ideal for young people.
Dual occupancy
Central Ballarat and Alfredton are currently the best suburbs to look for units, townhouses and other dual occupancy dwellings to buy in Greater Ballarat. They have the highest number available, whereas Delacombe and Soldiers Hill don’t even have any units statistics registered on local real estate websites.
Investor opportunity
With the reasonable median prices, now is the right time to invest in the Ballarat market. The numbers don’t lie, and any investor can get into the market and earn a great profit in years to come. For beginner investors we recommend Delacombe and Alfredton as the more affordable options, although Delacombe don’t have many units for sale. Contact us today to get into the Ballarat market and see a return for the future.
1 All suburb profiles sourced from realestate.com.au on Friday 21 December 2018.
2 https://www.domain.com.au/suburb-profile/ballarat-vic-3350, accessed Friday 21 December 2018.
3 https://www.yourinvestmentpropertymag.com.au/top-suburbs/vic-3350-alfredton.aspx, accessed Friday 21 December 2018.
