The city of Ballarat has played a significant role in shaping not only the state of Victoria, but Australia as a country. Most notably, it was the site of the Eureka Rebellion, an industrial uprising that many credit as the birth of Australian democracy. But, as rich and storied as the area’s history is, there is more to Ballarat than just its past.
Ballarat sits about 110km north west of Melbourne and is the economic and administrative centre of the Central Highlands region. With a population of just over 100,000, it is Victoria’s third largest city and largest inland centre. Despite this, it still manages to maintain a fairly laid back, country town vibe.
In its early days, Ballarat rivalled Melbourne for economic and cultural influence. This was largely due to the rich goldfields that surrounded the town and played a major role in its development. But while Ballarat managed to maintain its wealth longer than most gold rush regions, the good times did eventually end.
The city’s former glory can still be seen today in its impressive Victorian architecture and wide picturesque boulevards. The city also has the highest concentration of public statues in Australia, with most parks featuring multiple monuments. Ballarat is also recognised as having Australia’s finest regional botanical gardens and largest collection of Avenues of Honour.
Ballarat also has a strong sporting pedigree, with Lake Wendouree hosting the rowing events for the 1956 Olympics. The city continues to have strong connections with rowing and kayaking, as well as AFL, cricket, athletics, and thoroughbred and greyhound racing. This is supported by a great selection of local sporting facilities, available for use by professionals and amateurs alike.
The city also has an extremely active arts sector, with multiple theatres and its own symphony orchestra. This is complemented by the Art Gallery of Ballarat, Australia’s oldest and largest regional art gallery. Ballarat also plays host to a range of annual events, from the Begonia Festival to the Ballarat Beer Festival.
But while there is plenty to see and do in Ballarat, daily life tends to be a bit quieter. The city is particularly popular with young families, thanks largely to the high quality of the local schools. Though the ample green space, good employment opportunities, and thriving hospitality scene are beginning to appeal to a wider audience.
Ballarat has also become quite popular with commuters, thanks to the regular train services and just over hour-long journey into Melbourne. This has brought both buyers and renters to the area, who see it as a good alternative to Melbourne’s outer suburbs. And, given the quality of life and value for money on offer, it is easy to see why.
Luke and Julian each have over 20 years of property investment experience.
As you would probably expect from such a large regional centre, Ballarat’s property market – much like its population – is quite diverse. Whether you want a period property, something on several acres, or a modest suburban home, you will find it in Ballarat. This is great news for investors, as it means you are sure to find something that suits your strategy.
For example, say you are new to investing and want a solid foundation to start building your portfolio upon. In this instance, as experienced buyers agents, we would recommend looking for a place in the city’s key growth areas. Properties here are newer, so will be easier to maintain, and are delivering consistent capital growth and good rental returns.
Or maybe you are after maximum capital growth and are willing to take on a bit of a project. In this case, a good buyers agent would likely recommend targeting an older home with obvious renovation potential. They would also suggest looking close to the city centre, where heritage properties are common, and quality updates are valued.
Whichever option you choose, you can expect your budget to stretch further in Ballarat than it would in Melbourne. In fact, the region remains quite affordable, even when compared to Melbourne’s outer-most suburbs and most competitively priced areas. This is despite local median prices consistently climbing over the last couple of years.
If you are considering investing in the Ballarat property market, Search Party Property can help you find the perfect opportunity. We work with investors from a wide range of backgrounds and specialise in helping our clients secure their financial future. So, whatever your situation, we are sure to be able to find you a suitable investment property. But first, we will need to get a good sense of who you are and what you are hoping to achieve. As part of this, we will work with you to better understand your motivations and current financial situation. We will also help you to define your investment goals and come up with a tailored strategy to achieve them.
Based on this, we will then begin looking for suitable properties for you. We will start by examining recent sales data to get a clear sense of the current state of the market. We will also pull data on population changes and planned infrastructure upgrades to help us forecast future growth potential.
Using this insight, we will put together a shortlist of the best investment opportunities available and share them with you. We will also provide you with our analysis of each property and the returns it is likely to deliver. This should give you the information you need to choose which investment, if any, you would like to proceed with.
From there, our focus shifts to securing your preferred property for you. This means supporting you to do your due diligence and making sure you know exactly what you are signing up for. It also means helping you come up with a strong, but reasonable, offer and representing you during any negotiations.
Finally, we will guide you through getting the property set up and producing income. This includes helping you choose who will manage it for you and planning any updates required to maximise rental appeal. We will also regularly check in on the performance of your investment and your readiness to buy your next property.
Or, to put it simply, we guide you through the whole investment process, supporting you at every stage. For more information on working with us, or to get started on your property investment journey, contact us today.