The Ballarat real estate market has continued to maintain its strong position throughout 2021 across both sales and rentals.
In the broader market, the release of the June 2021 REIV quarterly figures has shown a 10.5 per cent increase in median house prices throughout regional Victoria, and an almost 20 per cent record-breaking annual growth. Locally, the Ballarat median price saw an increase of 14.5% to a record high of $475,000, up from $454,000 in the previous quarter.
The rental market has also seen strong growth with an annual increase of 8.6% in the median weekly rent to $380 per week. Coupled with the current vacancy rate across Ballarat dropping to 1.5% (down from 2.6% in June 2020), it is a great time to own a rental property in Ballarat.
At Integra Property Management, we currently have a 0% vacancy rate and a number of qualified tenants looking for a property to move in to. Please contact us regarding managing your investment property. We are Ballarat’s growth zone specialists, but manage properties throughout the whole Ballarat region.