Affordable Regional Property Markets: How Ballarat Is Benefiting From Buyer Demand
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What is the current state of the Australian property market?
It's the Real Estate Podcast, brought to you by ANZ Home Loans for financial well-beings.
Hey, welcome back to the Real Estate Breakfast, breaking down for you the property market. Yes, it's your weekly window into the Australian real estate. And if you are a new listener, you want to get in touch with us with anything that is on your mind, use our voice recorder. It's available below in the show notes. Easy to use. All you do is you click on it. And your voice can join the hundreds of others who have contributed to the way that they see the property market developing, and especially across our 2026 year. Or if you are a little bit too shy to do the voice recorder, you can use our email. And that is myrealestatepodcast at gmail.com. It is a Tuesday. Nice to get Monday out of the way. March the 17th.
Happy birthday, Kurt Russell, turning 75, the actor. And Johnny Farnham, locally, he is turning 77.
You're the ones trying to understand it.
Make the noise and make it clear.
And he reached the peak of his career in the mid to late 1980s after the release of that iconic album, Whispering Jack. Gee, how many of those CDs are still being played around the country today? I would suggest plenty. Now, one interesting trend in the housing market right now is just how strongly regional areas are performing, and we highlighted that over the weekend.
A lot of the regionals that have really grown are within... a couple of hours of a capital city and they might work from home two or three days a week and put up with a commute into the city. Other people are maybe three or four hours out in the regions and totally re-looking at how they work. They might move their business premises out to the regions just to get the affordability and the lifestyle that they just cannot achieve in the city.
So according to data from PropTrack, some of the fastest-growing housing markets are actually the more affordable regions, not the big capital cities, as Anthony has just alluded to. Buyers chasing value and long-term growth are moving into areas where homes are still within reach, and that surge in demand combined with limited supply indicates has pushed prices higher in places like Ipswich and Ballarat, which is where we take you right now to catch up with Dominique Morrison and Lachlan Sylvia from Ballarat Real Estate. And good morning to you fellas. You would have been into a bit of Johnny Farnham when you guys were younger, right?
Morning Craig and great to be with you but yeah we might be a little bit too young. I've got a little bit of Johnny Farnham knowledge. I've got a niece named Sadie and I know she featured in one of Johnny Farnham's famous songs but that's about the level of my knowledge.
Oh gee, Johnny Farnham wouldn't be happy about that. What about you Lachlan? Do you know who Johnny Farnham is? Maybe I should ask it like that.
Yeah, no, I definitely know who he is, Craig, and good morning to you as well. I'm a little bit, Dom's got a few years on me. If he didn't grow up listening to him, I definitely didn't, but I absolutely know who he is.
We're all feeling a little older this morning. Now, let's get into the regional city of Ballarat, which has become one of Victoria's most watched property markets. Located, of course, 110km from Melbourne, it's attracting buyers looking for more affordable homes while still staying within commuting distance. Let me come to you, Dominic, because this is a real problem, isn't it? Because we've got fuel prices that are going off. You can catch the train for those daily commuters that have bought in Ballarat working in Melbourne.
You can. And it's always been a big drawcard for Ballarat, that geography of being so close to the capital city of Melbourne. You know, we're also really close to the surf coast. We can get to the beach in a little over an hour as well. Yeah, I think on both angles of people working from home, people love to move to Ballarat and then work from home because you've got a big backyard that you can look out onto and you've got more space in the home for a better price.
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