Residential Property Market
Ballarat
During the December 2006 quarter, the median house price in Ballarat showed a slight increase of 1.3% from $224,000 to $227,000.
The median house price over past three months for these popular localities were:
v
v Alfredton increased by 27% from $261,500 to $332,000
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v Wendouree increased by 11.1% from $180,000 to $200,000
Rental Property Market
Vacancy Rate
Ballarat’s vacancy rate during the December 2006 quarter increased to 3.3 per cent from 1.5 per cent in September 2006.
The median rental return on Ballarat house during the December 2006 quarter was $180 per week for a two bedroom house, $213 for three bedroom house and $260 per week for a four bedroom house.
This represents an overall annual increase of 3.7% from the December 2005 quarter.
The median rental return on a Ballarat unit/apartment during the December 2006 quarter was $110 for a one bedroom unit, $165 per week for a two bedroom unit and $235 per week for a three bedroom unit.
This represents an overall annual increase of 2.1% from the December 2005 quarter.
The median price is the middle price in a series of sales, giving a more accurate indicator of true market activity compared to average prices. Affordability is where the average wage increased more than both the median house price and the average loan repayment. Definitions
The information provided on this website is only intended to be a guide to market activity; and has been obtained from the Real Estate Institute of Victoria.
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December 2006 Property Market Report
September 2006 Property Market Report
June 2006 Property Market Report.
March 2006 Property Market Report.