Priced out: demand from out of town buyers causes house price jump

Date: 9 Feb 19

A double digit percentage jump in Ballarat’s median house price could push low income buyers to the city’s fringes and increase the difficulty for first home buyers to enter the housing market, real estate agents say.

The City of Ballarat’s median house price increased 12 per cent last year, soaring from $345,000 in December 2017 to $386,500 in December 2018. 

Real Estate Institute of Victoria data shows the Ballarat property market is becoming attractive to a wider range of purchasers, with price increases well above Bendigo and Geelong. 

Median house prices in City of Greater Bendigo increased by 2.1 per cent last year, while City of Greater Geelong median house prices increased 10.8 per cent. 

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