Ballarat Property Report
What's in store for Ballarat property?
The Economy: We look at the critical local factors such as the local Budget and $ spend per capita, business investment, state housing finance and mortgage arrears.
Affordability: We look at the current Ballarat Affordability Index (AI) and track the first home buyer activity which is a good indicator of value.
Demand: Proximity and accessibility to Melbourne, coupled with Affordability, is driving Population growth in Ballarat, and we look at the type of population which is growing the fastest. Net migration is a good indicator of demand for housing, whether that be people renting or buying - they need accomodation.
Supply: Housing stock for sale along with dwelling approvals can indicate a pipeline of oversupply when measured against population growth. They key to finding which is which, is the vacancy rate, days on market and stock on market trend.
Investment Value: The critical component of determining investment value, is looking at the rental yields. Traditionally in regional markets, the yields are higher than in capital cities due to cheaper land values.