Local News

The eye-watering rise in Ballarat house prices in recent years

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Image: Pixabay

New data's produced some incredible house price results for Ballarat.

The value of property on average across the region's increased by a whopping 76.2%  over a five year period.

This was highest in Ballarat Central at 81%.

HousesMedianYoY5-YR
Ballarat Central $728,500
+19.3%
+81.0%
Ballarat East $520,000
+20.9%
+77.8%
Ballarat North $570,000
+18.8%
+75.4%
Source: Domain

This compared to areas of Melbourne, where house prices saw a significantly smaller rise in the same period.

HousesMedianYoY5-YR
North Melbourne $1,177,250
-3.5%
+3.8%
Port Melbourne $1,811,000
+4.4%
+24.9%
South Melbourne $1,750,000
+4.8%
+20.7%
Source: Domain
 
Additionally, the Melbourne market saw its first back-to-back quarterly decline since 2018-19, dropping by 0.9% for the June quarter.