The past year has brought a period of adjustment for Ballarat’s property market, but recent trends point to renewed momentum. Sales activity has lifted, signalling growing buyer confidence, while prices are showing signs of stabilising and properties are spending less time on the market.
The impact of supply and demand has varied by segment. Properties at the top end of the market have been slow to move, with high supply and limited demand. Conversely, homes in the low to mid-range are in tighter supply, and demand has noticeably lifted.
In property management, conditions remain nuanced. Investor activity slowed earlier in the year but has since rebounded. Rents are still rising, particularly at the more affordable end of the market, and while demand for executive rentals has dipped, overall vacancy levels have remained stable. Changing legislation and minimum rental standards have added complexity for rental providers, with many still adjusting to the shifting regulatory environment.
On the construction front, high building costs have significantly dampened land sales, with total build costs outweighing end value. However, reflecting growing demand for quality and low-maintenance homes, new development Lyons Place has launched with strong interest, setting a new benchmark for inner-city living in one of Ballarat’s most desirable enclaves.
Adding to this momentum is the scale of infrastructure investment reshaping Ballarat, with billions being invested across transport, healthcare, education and sport to meet the demands of our growing city. Early works are progressing on the Ballarat Station upgrade, opening in 2026. The $655 million Ballarat Base Hospital redevelopment will deliver 100 new beds and expanded surgical facilities by 2027.
The Ballarat West Employment Zone continues to evolve, with airport runway extension plans setting the stage for long-term economic growth. Sports and recreation are also in focus, with Mars Stadium upgrades, a $17.5 million transformation of Eastwood Leisure Complex and new athletics facilities underway.
