Ballarat has shown greater resilience to the house price dip than other areas – according to the Real Estate Institute of Victoria’s latest housing report.
Melbourne prices fell 7.4% in the September quarterly stats, that figure 2.8% for regional Victoria – while in Ballarat Central there was a slight dip of just 1.7%.
It comes after a year of steady growth – Ballarat house prices climbing from an average of $550,000 in 2021 to $750,000 at the beginning of this year.
REIV profile for Ballarat Central
The median sale price for houses in Ballarat Central is currently $738,000.
Meanwhile, in other areas of Ballarat house prices moved in the other direction to show growth this quarter.
REIV profile for Ballarat East
Ballarat East median house prices shot up 4.8% to $516,000, Ballarat North by 5.4% to $597,000, and Brown Hill is up by 2.5% to $615,000.
The average house price across regional Victoria is $603,000.
Data courtesy of REIV markey insights.