The latest statistics from the Real Estate Institute of Victoria prove the current strength of the local market. The Ballarat real estate market grew by 12% in the 2018 calendar year, easily one of the most impressive councils in Victoria, continuing in the December quarter at 1.7% for the City of Ballarat.
Property Management Ballarat also shows a strong position for the future of the real estate market. Low vacancy rates historically show an excess in demand over supply for housing stock and lead to rent increases as well as a rising real estate market into the future, making now the ideal time for savvy investors to buy into the area.
Ballarat rentals currently show the lowest vacancy rate in the whole of Victoria, at 0.7%, and is tightening against an overall trend in some areas where vacancy rates are increasing. With prices continuing to rise and vacancy rates falling, Ballarat real estate agents look set for a very busy year ahead in 2019. Contact one of our agents today for advice and help with renting, buying and investing.