Ballarat buys attractive for Melbourne commuters: HTW
Ballarat is attracting large volumes of buyers across all brackets due to its relative affordability and easy commute into Melbourne CBD, according to HTW’s Month in Review: March 2017.
The valuation firm says inner suburbs such as Golden Point, Redan and Ballarat East provide low price points with period housing and are ripe for gentrification.
“These areas provide a good investment opportunity with good capital growth expected due to the high demand for good quality period style housing and proximity to the city centre,” the report says.
“Young families are being drawn to the appeal of new houses in affordable locations such as Lucas, Delacombe and Winter Valley.”
HTW says that vacant land in these areas is in plentiful supply and building a new house provides an affordable option with lifestyle for young families.
But it warns that the capital growth in these areas is likely to be slow with a continuing supply of vacant land coming to the market.
“In terms of affordability for investors, Wendouree and Sebastopol provide high rental returns and a stable source of income.
“These areas are unlikely to experience large capital growth, however pockets of Wendouree are currently showing strong growth around Ballarat Grammar and Stockland Wendouree.”
A three bedroom house at 5 Rumler Court, Ballarat North (above) has been listed for between $370,000 to $390,000.
Similarly a two bedroom unit at 22/326 Walker Street, Ballarat North (below) has been listed for between $199,000 to $209,000.
