2020-2021 Property Market Outlook for Ballarat, VIC

Ballarat is the largest city of the Central Highlands of Victoria and is the third largest inland city in Australia. Ballarat first came to prominence as a gold boom town in the 1850s and the wealth of the mining industry is reflected in the fine historic buildings in the city centre. At a distance of around 120 km from the centre of Melbourne, Ballarat offers commuters a cheaper alternative to big city living. The average house sales price here is just shy of A$474,000, which compares to an average of A$1,153,000 in Mooney Valley City, A$982,000 in Marybyrnong City, and A$1,473,000 in the Melbourne City LGA. The city is also a centre of commerce in its own right, offering plenty of local employment opportunities. This economic duality means that the local housing market has always been successful…