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Black Hill, VIC 3350

Home » VIC Real Estate Data » Ballarat City, VIC » Black Hill, VIC 3350

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Black Hill, VIC 3350 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

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5BR

Rent 

2BR

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Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

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Yield 

1BR

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3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Black Hill, VIC 3350”

  1. The total adult population (15 years or older) of Black Hill 3350 VIC is 1,760, with a median age of 40. Of those, 38.69% are married, 13.35% are divorced or separated, 42.56% are single and 5.23% are widowed.

    The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $8,016. The median monthly mortgage repayment for households in this suburb is $1,393 which is 17.38% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Black Hill, postcode 3350, is found in Victoria and is thought to house roughly 1,071 families. As of the third quarter of 2023, the average house in Black Hill is valued at approximately $644,811 with a median weekly rent of $368, culminating in an indicative yield of 2.97%. The relatively low yield falls just short of the desired 3%, which might not be as appealing to those investors primarily focused on cash flow.

    When it comes to socio-economic factors, Black Hill has scored 983 out of a maximum 1217 on the IRSAD scale. This suggests a generally favourable socio-economic status of the population residing in the area, where residents have access to ample economic resources, command decent incomes, and maintain skilled professions.

    In terms of ownership, the renter to owner ratio is at 35%, which falls between the optimal range. This degree of renter to owner ratio can be seen as balanced: not excessively competitive for property investors, yet depicting a vibrant rental market.

    Housing units account for a mere 8% of all dwellings in the suburb, indicating a low units-to-houses ratio and exhibiting residential market’s dominance by houses over apartments or units. This housing market configuration is desirable for it denotes less competition among landlords and upholds rental yields.

    However, the affordability index presents a slightly less pleasing picture with 32 years required to own a house, marginally exceeding the traditional 30-year mortgage term. This could imply greater challenges for families to move from renting to owning, hence increasing the potential for long-term tenants.

    Speaking to the supply metrics, the stock on market percentage for houses is really low at 0.21% and the inventory level is also very limited at 0.96 months. No new housing constructions were approved in the period, indicated by a 0% building approvals ratio. Collectively, these figures represent a very constricted supply in the market, which could propel property values upward if buyer demand remains buoyant.

    On the demand side, houses sit on the market for an average of 68 days before being sold. This points towards a neutral level of demand in the local market. Furthermore, the vacancy rate at 2.13% aligns with the neutral range, highlighting a balanced local rental market not leaning towards oversupply nor undersupply.

    In terms of online interest, the buy search index for houses is at 6, well above the state average, signifying high buyer interest in properties within this suburb.

    Black Hill thus emerges as a potential property investment hub in Victoria, combining positive socio-economic factors, a favourable housing structure, and balanced supply-demand dynamics, despite minor hiccups in affordability and yield. Prospective investors and buyers would do well to keep a close eye on Black Hill’s property market trends into 2023 and beyond. As always, a comprehensive understanding of real estate data and market dynamics remains pivotal for success in property investing.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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