#307: Analysing Ballarat’s Property Potential - The Pros, Pitfalls and Lifestyle Insights for Home Buyers and Regional Market Investors

Got a question for the trio? https://forms.zohopublic.com/propertyplanningaustralia/form/GotaquestionforthePropertyTrio/formperma/zYCQAxzE_24CVlDafP1ozyzwtmB-8m1iCNtCTgDvHXM

In today's episode, Mike and Cate tackle a great listener question from Brooke, who asks: "Is Ballarat a no-go for investors, and what about its long-term growth prospects?" With profits from their Perth house and a $690K budget, Brooke and her family are considering a move to regional Victoria — and Ballarat has caught their eye.

The duo dive deep into why Ballarat remains one of Victoria's most attractive regional cities, offering both affordability and a high quality of life.  But what should Brooke consider before making the move? And what are some of the interesting local things to note about this fabulous provincial city?

💡 Why Ballarat? Cate kicks off by painting a compelling picture of Ballarat’s growth and appeal. With a population exceeding 122,000 and on the rise, Ballarat continues to attract both regional and metropolitan migrants. The city’s relative affordability, compared to Melbourne, combined with strong access to employment and education opportunities, makes it a top contender for families and investors alike. 

🏥 Key Industries & Employment Ballarat's economic backbone includes health services, education, advanced manufacturing, and decentralised government services. With a diverse and stable job market, it stands out as a regional powerhouse — bolstered further by hospitals, schools, and a university attracting students and professionals from across the country. 

📜 A Rich History Once a booming gold rush town, Ballarat was home to some of the world's richest alluvial goldfields. The city's prosperity led to grand architecture and impressive infrastructure — much of which still stands today, adding to its unique charm. 

💰 Investment Outlook Cate outlines the city's strong rental yields (often outperforming Melbourne), tight vacancy rates, and reliable demand — especially among university students and healthcare professionals on placement. She also highlights Ballarat’s appeal to “regional super consumers” as noted by demographer Bernard Salt, and how the shift to remote work is opening doors for tree-changers seeking lifestyle without sacrificing income. 

🏡 Living There & What $690K Buys For Brooke, who’s open to living in Ballarat, Cate and Mike discuss the lifestyle factors: good schools, a thriving food and wine scene, stunning public buildings, and fast rail access to Melbourne. She advises on buyer pitfalls to avoid, the importance of inspecting properties, and how to make the most of the "try before you buy" approach. 

🍻 Fun Fact During the gold rush, Ballarat had over 500 pubs! Today, around 50 remain — keeping the city’s vibrant social legacy alive. 

 🚗 Weekend Tips Cate signs off with some tips for a Ballarat weekend getaway — from local cafes to wine country escapes.

  .... and our gold nuggets!

Cate Bakos's gold nugget: For anyone who is inquisitive about Ballarat, a weekend away can make a nice little experience. The city grid is walkable from the rail station and there are plenty of fun places to go for those who enjoy their food and wine.

 Mike Mortlock's gold nugget: Making an investment dual-purpose isn't an easy task, but effective strategy can take an investor a long way when they are considering what their future opportunities may entail. As Mike says, "life happens."

Show notes:  https://www.propertytrio.com.au/2025/04/28/listener-questions-ballarat/