Invest in Beautiful Ballarat

While continuing population growth in Melbourne and Sydney is increasingly thought to be having a negative affect on quality of life, it’s the opposite for regional centres such as Ballarat.  Increased population means that these centres are growing in both amenity and opportunity, which in turn is drawing more people to live there. 

Ballarat is around the same distance from Melbourne as Newcastle is from Sydney, but it can be reached by train in a little over an hour. With the Victorian government spending $500 million on upgrading the line, it promises to be even faster.

It’s possible to commute to Melbourne, yet there is significant growth in employment opportunities in Ballarat itself, with a major new industrial state to be opened in the west of the city and the State Government keen to migrate jobs out of Melbourne as a means of stemming the city’s population growth. The population of Ballarat grew 9.1% between 2011 and 2016, and this rate is projected to increase. 

The Victorian government is offering further incentives. First home buyers in regional Victoria get a grant of $20,000 as opposed to $10,000 for those in Melbourne. Investment properties in regional Victoria are also exempt from the new Vacant Residential Property Tax which will be introduced in 2018. 

We have properties available in Lucas, a new master-planned community with five distinct neighbourhoods, only 6km from the Ballarat CBD.  It’s a growing community with a vacancy rate of 2.3%, 96% employment and an average weekly income that is higher than that for the Melbourne metropolitan area. All these are indicators for good tenants. 

Adding to the attraction is a town centre that already has a Woolworths and specialty shops, with one primary school already opened and another planned. A business park is located on the northern edge of the estate. There is 22 hectares of parkland in Lucas with sporting fields, wetlands, walking paths and a children’s playground.  Lake Wendouree, the Botanical Gardens and downtown Ballarat with its Gold Rush heritage are all in close proximity.

A total price of $411,290 gets you a brand new 4 bedroom (plus office), 2 bathroom, 2 living areas and a double garage on a low-maintenance 352m2 block. Professional estimates suggest a rental return of $360 per week. 

With the plan for Lucas to be fully realised by 2025, there is a great chance here for an affordable investment that promises consistent returns and strong capital gain over the medium to long term.  If you believe in the value of a regional lifestyle, call us to discuss this opportunity today.