Looking for an up-and-coming property hotspot? If you’re setting your sights on regional Victoria, you might want to consider investing in Ballarat suburbs.

Ballarat is located in the Central Highlands of Victoria, just a 90-minute drive away from Melbourne.

Post-pandemic life has shifted real estate requirements. More and more tenants are choosing to live in wide open spaces rather than commercial clusters. This has made regional areas such as Ballarat skyrocket in demand and potential! 

Resoundingly, yes. According to Ray White Ballarat, the city is one of the top 10 investment areas in Australia. Ballarat’s low vacancy rates, high rental yields and easy access to Melbourne has quickly made the city a firm favourite among property investors.

However, not all Ballarat suburbs may be the best for investment. Certain suburbs in Ballarat are known for their high noise levels and unfavourable surroundings, which may affect occupancy rates.

However, other Ballarat suburbs are investment gold – not only do these promise great returns and prices, but great capital growth as well. To help you out, we’ve pulled together our top 7 Ballarat suburbs to invest in 2023:

If you thought that moving to the heart of the city equals higher costs and lower returns, think again. According to recent research, Central Ballarat is the city’s best kept secret. Property investors are quickly falling in love with its convenient facilities and great sense of community.

Spread across 3.8 square kilometres, this vibrant suburb in Ballarat offers an impressive collection of restaurants, lush green parks, playgrounds and great schools. “It’s like a mini Melbourne”, remarked a local resident.

Most residents who live here are employed professionals, couples and families with children, some of whom are likely to be paying off mortgages at around $1,000 to $1,400 per month.

On the financial front, Central Ballarat does not disappoint. Statistics by YIP show that the suburb records great capital growth, rental rates and returns and one of the lowest vacancy rates in the country. Here’s a quick look:

If this is your first time investing, aim for a Ballarat suburb that gives you more bang for your buck - like Alfredton.

Approximately 7.9 square kilometres, Alfredton brings you all the perks of the city without the cons. Think dedicated bus lines, fine public and private schools and reasonably priced amenities - all made accessible in a charming neighbourhood that shuns commercial noise.

A bonus point to Alfredton is its visual appeal and homely spirit. The suburb offers a great mix of old and new areas; expect beautiful green streetscapes and larger blocks in the ‘old’ Alfredton and smaller, dense blocks, mostly home to families and newlyweds in the ‘new’ Alfredton. According to most residents, Alfredton is a safe, quiet place to live with a warm and welcoming culture.

Recent research shows that Alfredton houses have shown significant capital growth, while its units recorded great rental yields over the past few months:

Soldiers Hill is one of the most desirable suburbs in Greater Ballarat - and is only expected to grow stronger. 

Around 1.5 square kilometres in size, Soldiers Hill offers everything needed to maintain a convenient lifestyle in a charming and peaceful neighbourhood. This suburb is just a short walk away from all eateries, schools, churches and Ballarat’s major shopping precincts!

Adding to your investment would be the suburb’s stunning features; from Victorian and Edwardian period homes lining the streets to wonderful parks and beautiful towns, full of history and character.

Soldiers Hill offers upmarket and sizable investments at a much lower cost than you’d find in the city. With some of the lowest housing prices and rental rates, high property demand and above-average living satisfaction, this Ballarat suburb is quickly becoming one of the top investment spots in Australia.

Considered to be one of the fastest-growing Ballarat suburbs, Delacombe is located on the southwest fringe of Ballarat and is roughly 5.4 sq-km in size.

With a great family-friendly atmosphere and a welcoming culture in place, this residential suburb offers a lot to look forward to, especially if you’re looking to invest in an area with a blend of rural and urban living. Residents speak of a quiet neighbourhood and a number of restaurants, shops and schools in the vicinity.

The suburb’s historical features may additionally play a crucial role in boosting your property’s demand. Delacombe plays a key role in Ballarat’s Gold Rush history and is home to iconic attractions such as Sovereign Hill that draws visitors, tenants and buyers from all across the nation!

Low sale prices, great capital gains and great rental yields. If you’re looking for Ballarat suburbs that’ll pay more in the long run, Delacombe is definitely a winning investment.

“Wendouree is where the Aussie dream is still alive”, remarked a local resident in a column by Homely- and a quick look around tells us the suburb certainly has the chops to prove it!

Approximately 9.6 sq-km in size, Wendouree is the 2nd most populated suburb in Ballarat, and is home to a large number of families, students, professionals and labourers. Unbeatable property value, relaxed lifestyle and rapid infrastructure development makes Wendouree one of the best suburbs in Ballarat to invest in.

Just an hour’s drive from the city, Wendouree is decked in large land blocks with plenty of open spaces and country charm. From large shopping centres and new train stations to a variety of private and public schools, cafes and parks, this vibrant suburb ensures that all essential facilities are just a short walk away.

Statistics show that Wendouree checks off all the boxes for a sound and stable property investment. Expect to shell out less for more. There’s also a high chance of your asset being snapped up within just a few days on the market!

Locals are quick to sing this suburb’s praises - and with good reason too!

Just 2.2 sq-km in size, Redan brings you close to all essential amenities against a backdrop of tree-lined streets, lush parks, lakes and charming old and new houses. Choose from a wide range of impressive schools, supermarkets and restaurants brought right to your fingertips. The suburb’s size also means there’ll be shorter commutes to work - with little to no traffic almost always.

Another reason to invest in Redan is its significant price growth and potential.

Recent research shows that the government has and often does pledge large-scale infrastructure development and projects in the area. This in turn guarantees thousands of jobs and draws more investors to the area - turning Redan into a property hotspot for families, young professionals, veterans and retirees.

Prep your wallet for greater capital gains and rental returns. Not only does Redan give astounding value for money, it also promises results fast - with most homes often getting snatched up within 2 weeks on the market!

Speeding through the ranks a dozen property sales at a time, Sebastopol has made itself out to be one of the top Ballarat suburbs to watch - particularly in 2023.

Approximately 8.5 sq-km in size, Sebastopol is the 3rd most populated suburb in Ballarat. A quick look around tells us that more and more investors are drawn to the suburb’s quiet country life and rapid rate of development.

Expect to easily sell not just your Ballarat investment property, but its immediate surroundings as well. Most properties are in close proximity to a range of grocery stores, restaurants, gyms and banks, with public transport made available at regular intervals at several major routes.

According to resident reviews on Homely, Sebastopol was ranked the 7th best suburb in the Central Highlands Region of Victoria, particularly for families, professionals, students and retirees.

With major government-backed developments underway and planned, Sebastopol properties may quickly increase in value - and may even double their returns within the next couple of years. 

Landlords, in particular, are looking at heavy wallets - expect great rental yields and low vacancy rates!

Still wondering whether you should invest in real estate in Ballarat? 

Here are a few things you may need to know:

• Population: Ballarat is one of Victoria’s largest regional cities, with over 120,000 residents and a population growth rate of around 1.8%.The city’s essential facilities, such as schools, shops and restaurants, are conveniently located close to every residential area, making it a top spot to live and work.
  
• Infrastructure: Ballarat boasts over $1 billion worth of development projects (both underway and planned).
  
• Employment: The city is home to some of the largest performing employment sectors in Australia. Recent research shows that Ballarat has the potential to generate 20,000 jobs in 20 years.
  
• Cold climate: According to the 2017 Victoria State Government Survey, 18% of the city’s locals stated that one of the cons of living in Ballarat was its cold climate. As an investor, you can turn this around by choosing your property carefully. Opt for a home with a great heating system or other cold-reducing features to earn bonus points - or even a price hike.
  
• Local neighbourhoods: Recent research shows that Ballarat has a mix of communal suburbs, which may bring about different lifestyles and environments. According to local residents, certain Ballarat suburbs may have high crime rates, noisy atmospheres and a less-than-pleasant communal atmosphere. 

But this doesn’t reflect on every suburb of the city. Most Ballarat suburbs (as listed above) offer a safe and peaceful environment - great for families with kids! A large number of Ballarat residents also state that the city is a great place to live, with warm and welcoming neighbours who look out for each other. 

All in all, there’s no doubt that Ballarat is one of the top investment cities in Australia. The city shows tremendous promise - and is only projected to grow stronger in the future.

So map out a plan, weigh each suburb’s pros and cons and choose one that works for you. The right suburb may not just guarantee a great income - but may set you up for life.

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