We sat down with our Ballarat directors to explore how the past year has unfolded and what lies ahead for the local property market.
How has the Ballarat property market performed in the last 12 months?
The market has moved at two speeds. The sub-$1m segment has performed well, with days on market declining rapidly, driven by a strong influx of interstate investors and first-home buyers. Above $1m, the market has been slower to recover, with days on market remaining elevated. In property management, vacancy rates remain low, rental demand is strong across most property types, with affordable rentals circling $400 per week. The quality of rental stock is also improving off the back of minimum standards requirements.
The outlook remains positive. Population growth, a strong pipeline of new developments and the $655 million Ballarat Base Hospital redevelopment opening in 2027, will continue to support demand.
How do you expect the Ballarat region will respond to further potential cash rate adjustments?
Ballarat has proven resilient, but if rates rise to levels seen in 2023-24, we would expect upward pressure on days on market and a softening of consumer confidence. Price growth would moderate, with minimal rather than meaningful gains the more likely outcome.
Lake Wendouree is seeing strong quarterly house price growth at 19.1%¹. What factors are contributing to this?
The rate cuts last year gave confidence a meaningful boost, and Lake Wendouree - with its lifestyle appeal and limited stock - was well-placed to benefit. That said, further rate rises in the months ahead may temper momentum.
Median property prices
Cotality, 01/04/2025 - 31/03/2026 Where a suburb is split across a LGA, the whole suburb has been used to determine a median. Where there are insufficient sales within a suburb over a 12-month period, a median price has not been calculated.Ballarat
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Alfredton
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Ballarat Central
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Ballarat East
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Ballarat North
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Canadian
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Delacombe
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Lake Gardens
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Lake Wendouree
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Mount Clear
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Mount Helen
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Wendouree
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Winter Valley
Median days on market
Cotality, 01/04/2025 - 31/03/2026City of Ballarat
Rental yield
Cotality, 01/04/2025 - 31/03/2026City of Ballarat
Current population
ABS Census 2021 DataCity of Ballarat
- Houses
- Units
We continue to see strong rental yields in Ballarat Central. What makes Ballarat Central such an attractive suburb for investors?
The area offers easy access to amenities, quality renters, and year-round demand driven by proximity to schools and hospitals – a combination that underpins consistent occupancy and reliable returns.
Ownership
ABS Census 2021 DataCity of Ballarat
- Own
- 33%
- Purchasing
- 33%
- Rent
- 32%
- Other
- 2%
- Own
- Purchasing
- Rent
- Other
Dwelling type
ABS Census 2021 DataCity of Ballarat
- House
- 85%
- Semi detached
- 12%
- Unit / apartment
- 3%
- House
- Semi detached
- Unit / apartment
What does FY27 and beyond look like for the Ballarat property market?
The outlook remains positive. Population growth, a strong pipeline of new developments and the $655 million Ballarat Base Hospital redevelopment opening in 2027, will continue to support demand, underpin the local economy, drive sales volumes and long-term price growth. The 2026 Happy City Index saw Ballarat ranked 16th globally across 250 cities and the highest scoring city in the country, assessed on liveability, sustainability and resilience – a recognition that will only strengthen the city's long-term appeal.
Fast Five with Matt Wiltshire
Favourite street
Frank Street, Ballarat Central.
Local secret
L’espresso for breakfast, coffee and lunch.
Memorable sale
A direct message on our social led to achieving the second-highest sale for a house on Wendouree Parade.
Design focus
Wine cellars, especially with their own seating.
One to watch
Old Alfredton and Newington, given their land size and proximity to the CBD and Lake Wendouree.
