DPN’s region profile: Ballarat, Vic
Today we’re featuring the regional inland city of Ballarat – an area that DPN’s Research Team believe has strong investment potential. Discover why this iconic Australian location is on our radar.
Victoria’s largest inland city is an enticing mix of heritage, creative arts and natural beauty. It’s also booming, with significant infrastructure projects set to boost the local economy.
The city’s rapid population growth has positioned it as the strongest market in Victoria. Located just over an hour by train west of Melbourne, it was the city’s gold rush heritage, wineries and proximity to nature trails that put it on the tourist map.
Now, infrastructure projects, including increased healthcare facilities, transport links and commercial attractions, lead the way in a jobs boom. According to Residex, projected capital growth is 4% over the next eight years.
The city still offers an affordable median house price of around $455,000 and prices have steadily risen over the last six years. It is a tree change destination that’s absolutely buzzing with activity and opportunities for property investors.
Our Why Invest in Ballarat report is full of information and data about the region. Here are six reasons why you should invest in Ballarat:
- The city offers tree change benefits with rapidly increasing big city infrastructure.
- Jobs growth is soaring, with the capacity to generate 20,000 jobs over 20 years.
- Its population forecast for 2018 is 107,647, which is set to rise to 144,108 by 2036.
- A $25 million redevelopment of the Ballarat Station Precinct is underway, to transform the precinct into a commercial and cultural hub, create jobs and increase tourism.
- Ballarat Base Hospital is undergoing a $461.6 million redevelopment and is expected to provide capacity for 18,000 more emergency patients per year.
- A project to upgrade the Ballarat Link Road will be delivered over the next few decades, providing a link from the Western Freeway to the Midland Highway.
For a comprehensive guide on the city’s property investment potential, find out all you need to know in DPN’s research report: Why Invest in Ballarat.
You can contact DPN for investment opportunities in Ballarat.
Report data sources: ABS Statistics; forecast.id; City of Ballarat Economic Strategy; RP Data Core Logic; RESIDEX™; City of Ballarat; ArchitectureAU and Property Observer.
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