The Population Movement Driving Property Growth in Regional Cities such as fast growing Ballarat
“Ballarat is one of Australia’s strongest regional cities thriving on a diverse economy, low unemployment, strong population growth, investment into infrastructure and commercial projects and within easy commuting distance to Melbourne.”
Why Invest and or Live in Ballarat
Ballarat is Victoria’s 3rd biggest city with a population growth heading towards 200,000 residents.
Infrastructure Investment & Growth in Ballarat
Infrastructure to service the next generation is being built and thousands of new jobs created now and well into the future; Ballarat is on an upward trajectory and an inviting city to live, work, play and invest in. Both State and Federal governments plan to spend billions on upgrading road and rail links to Ballarat and Melbourne Airport and construction of Ballarat West Employment Zone is underway expected to create 9,000 new jobs.
One of Victoria’s 3 largest Regional Cities Ballarat population is expected to double on the back of Lifestyle, Jobs, Government and Industry Investment into new infrastructure , a sound diverse and growing economy, great education and employment opportunity and more.
For the price of a One Bedroom Apartment in Melbourne you can secure a 4 bedroom house on a good sized block of land … no wonder families are moving into regional cities.
The 4 high growth Regional Cities are Ballarat, Geelong, Werribee and Bendigo and today all three offer a quality and affordable lifestyle with an upside of capital growth and strong rental yields, underpinned by sound fundamentals which are attracting the attention of astute investors looking for value for their investment dollar, capital growth potential, strong rental yields and low vacancy rates.
The City of Ballarat is an easy drive to Melbourne for those wanting to come into Melbourne and offers residents a clean and safe environment and all the facilities you would expect from a regional city with its natural beauty and rich culture and agriculture. The growing economy in Ballarat is diverse with a range of industries and services providing a strong employment hub for its residents whilst enjoying close links with Metropolitan Melbourne and other Regional Centers.
Investors are attracted to Ballarat for all of the above reasons but also because of Ballarat’s planned population growth. A growing population requires dwellings and with the current low supply this is driving prices upwards. One is still able to secure a property pretty close to the town centre and as the population grows the inner suburbs will increase in value as more land on the outer parts of Ballarat is released. A major attraction for investors.
Most of Ballarat’s new estates are only releasing a limited amount of House and Land packages to investors and prefer Owners to buy into their estates. This too is a major plus for investors who will enjoy less rental competition and probable higher capital growth being primarily an owner occupied location.
Of particular interest to investors are the significant advantages that Ballarat has to offer. These include a growing population, a loyal and skilled workforce, a sophisticated business sector, excellent location and supporting transport infrastructure, a strong education and research sector, world class health facilities and access to significant regional catchments. When these advantages are combined with a strategic and proactive Council then the outcome is a business environment that is innovative and dynamic.
Ballarat is a tourist attraction year round but with strong economic drivers including agriculture, manufacturing, technology and other service related industries. Industry leaders who have taken up the advantages of investing in Ballarat include; IBM Global Service, McCain Foods (Aust), Masterfoods Australia, FMP Group and the Victorian State Revenue Office.
As a result of its long and prosperous history Ballarat has evolved into a centre for business ingenuity and entrepreneurship. Our community has contributed significantly to the development of a robust entrepreneurial spirit, always encouraging and supporting new and innovative ways of doing business.
The BWEZ Industrial Hub (Ballarat West Employment Zone) which includes manufacturing, agribusiness, construction, freight and logistics is expected to create up to 9,000 new jobs and inject more than $5bn into the local economy.
The City of Ballarat also boasts some of the state’s leading secondary colleges. There are nine secondary colleges, four government and five private, and over 50 primary schools to choose from
There are also 5 kindergartens currently being significantly upgraded which will also house Maternal and Child Health consulting rooms and multipurpose community spaces
Ballarat is fortunate to have two universities covering a broad range of programs from certificate level through to doctorates of research.
Ballarat boasts an excellent commuter rail service to Melbourne, enabling residents easy access to metropolitan Melbourne, and similarly, visitors and tourists easy access to Ballarat. Travel times are approximately one hour and ten minutes, and have been significantly reduced with the introduction of the Regional Fast Rail in 2006, which further enhances Ballarat’s lifestyle and affordability appeal.
Currently there are 37 train services per day between Ballarat and Melbourne, enabling unprecedented access into Melbourne and beyond. The Wendouree Train Station was built to compliment the current historical and centrally located station and will continue to support Ballarat’s continued population growth. Ballarat offers a modern, fast and efficient passenger transport system competitive with other regional centers and metropolitan areas. It will continue to generate increased commuter and visitor traffic, with economic flow on effects for the entire community.
CBD & Train Station Redevelopment is a $25m redevelopment of the Ballarat train station with integrated Hotel and Convention and Exhibition Centre, flexible retail and dining spaces also a mixture of commercial activities … revitalising and adding tremendous value to Ballarat central and surrounds
The 16km Ballarat Link Road will link the Western Freeway to the Midland Highway resulting in a major north/south arterial improving access and connectivity
Ballarat boasts over 140 neighborhood parks, 39 sporting grounds, over 40km of walking trails, 8 aquatic facilities and several exceptional golf courses, including two championship courses, featuring a Robert Allenby designed course at Forest Resort, and also a Peter Thompson designed course at the Ballarat Golf Club. Cyclists are also well catered for in Ballarat, with many significant National cycling events, such as the Australian Open Road Cycling Championships and the Come to Life Classic. Additionally, Ballarat boasts in excess of 50km of off road cycling tracks to compliment the many kilometers of on road bicycle lanes.
Ballarat has the best of both worlds – a captivating history and a contemporary urban lifestyle, Ballarat is a city where you can enjoy a coffee or meal in a city café, then, minutes later be walking a
bushland trail surrounded by the majesty of nature.
Ballarat also offers Theater and The Arts, Great Food, wonderful Community Spirit and a climate very similar to the Mediterranean climate with four very distinctive seasons
The need for new dwellings in Ballarat is on an upward trajectory to meet with current and future population growth. This trend is influencing property prices and resulting in a growing Median House Price value with growth over the past 24 months at 15.76% plus and 6.11% past 12 months.
Vacancy rates sitting at a low 2.03% with only 24.93% of the population being renters. A location with more owner occupiers is far better taken care of than one full of investors. This could add to capital growth and return on investment potential.
In Ballarat there are approximately 40,000 dwellings , of which the majority are stand alone houses. Semi-detached, terrace houses, units and apartments make up the remainder. More than 42 per cent are fully owned and approximately 30 per cent are in the process of being purchased. Ballarat remains consistently more affordable than residential properties in Melbourne, for both houses and units.
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