Suburb Property Profile: Ballarat VIC 3350

Once a thriving gold rush town, today Ballarat is the third largest inland city in Australia and the fourth fastest growing in the country. It’s the commercial capital of the Central Highlands and has been dubbed the capital of Western Victoria, populated by 106,000 residents growing at 1.9% per annum.Unlike other mining towns, the Ballarat fields experienced sustained high gold yields for decades, seen today in the city's architecture. Increased interest in the history of Ballarat has enabled its surrounding gold mining villages to be re-energised with tourists. In addition to the heritage trails and outdoor walks, Ballarat’s surroundings are known for gourmet food and fine wine estates.Ballarat’s real estate hubs have become talking points for property buyers looking outside Melbourne for value, lifestyle, and growth. Recent figures from Core Logic show the city’s median house price at $433,000 with annual capital growth of 6.34% and the median apartment price $235,500, growing 9.19% on the previous year. Period homes remain popular with investors as first-home buyers look to new housing estates in Alfredton, Delacombe and Lucas town centres. Also, Ballarat city council is one of the municipalities where first-home buyers are eligible to receive $20,000 when building or buying a home valued at up to $750,000.The NeighboursBallarat’s demographics are established couples and families (18%), independent youth (16%) and older couples and families (16%), while older Independents (11%), maturing couples and families (10%), maturing and established independents (10%), elderly singles (9%), elderly couples (3.9%) 2.3% elderly families (2%) and young families (2%) round it out. Predominant occupations include healthcare/social (19%) education and training (11%) and retail trade (11%).

The CommuteBallarat lies 110 kilometres northwest of Melbourne, about 75 minutes via car on the Western Freeway and 90 minutes via train from Southern Cross station. The city is accessed via four major highways namely the Western Highway leading to Melbourne, the Midland highway which links to Geelong, the Glenelg Highway which leads onto Adelaide and the Sunraysia Highway, which links to the Calder Highway. A V/Line train from Southern Cross arrives at the 19th century-built Railway station in the centre of town. A plus for locals, most cultural events in Ballarat can be accessed on foot without the hassle of public transport or road traffic.Shopping for the familyOther employment hubs are found in and around the CBD’s busiest thoroughfare Sturt Street, which includes a shopping mall, restaurants, and the Visitor’s Information Centre. Major supermarkets are Coles, Woolworths and IGA all nestled within a stone’s throw of Sturt St, as are Target and Big W. There are also plenty of galleries and museums within striking range surrounding the CBD.The school runIt’s been said by local estate agents that young families are attracted to the area’s education options, with a good mix of private, Catholic and government schools for them to choose including Ballarat Clarendon College (private co-ed), Ballarat High School (government co-ed), Loreto College (Catholic girls) and St Patrick’s College (Catholic Boys). There are also two special development schools and nine primary schools. There’s also Federation University Australia SMB campus in the CBD.

What’s going on?There’s a lot to check out in Ballarat for families, whether it be a day out in Sovereign Hill, or extended stays at BIG4 Ballarat Goldfields Holiday Park or a getaway to the Winter Festival. Popular with locals and visitors is the Mitchell Harris Wine Bar, Red Duck Brewery, The Forge Pizzeria, and Yellow Espresso Café. Festivals held in Ballarat also include the ‘BOAA - a Visual Arts Festival’, showcasing over 150 of Australia's most innovative contemporary artists, there is also ‘The Ballarat Cup’ at the end of the Spring Racing Carnival. Next month the city holds ‘The 72nd Australian Jazz Convention’ across venues in the historic quarter of one of the gold mining icons from Boxing Day until New Year's Eve.

For more information on land estates and house and land packages in Ballarat with the friendly team of experts at iBuildNew.