{"id":64173,"date":"2019-10-09T12:32:15","date_gmt":"2019-10-09T02:32:15","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/ballarat\/?p=64173"},"modified":"2019-10-09T12:32:15","modified_gmt":"2019-10-09T02:32:15","slug":"property-market-continues-positive-push","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/ballarat\/real-estate\/property-market-continues-positive-push\/","title":{"rendered":"Property market continues positive push"},"content":{"rendered":"

Final siren of the AFL grand final means it\u2019s time for the spring sales season to really kick off<\/strong><\/p>\n

FOOTY fever has been cured, bees are buzzing in the blossom and the daylight lasts longer.<\/p>\n

Spring has sprung yet Ballarat\u2019s real estate gurus confess it is difficult to pin down the reason for the seasonal sales phenomenon.<\/p>\n

While the consensus from some of the city\u2019s leading agents is the Ballarat market is looking good, the perception that spring is the best time to sell, rather than reality, seems to be a common thread.<\/p>\n

\"\"
Peter Ludbrook. Photos: FILE<\/figcaption><\/figure>\n

From the perspective of Peter Ludbrook, a Director at Harcourts Ballarat, he doesn\u2019t see any uplift in prices due to spring, more it\u2019s a supply issue.<\/p>\n

\u201cThe market regulates itself, while the gardens look great and hibernation has worn off, it becomes a supply and demand issue,\u201d Mr Ludbrook said. \u201cThere is more supply in spring because vendors wait for the weather, because there\u2019s more activity people tend to think the results are better.\u201d<\/p>\n

Phillip Lee, Director at Ray White Ballarat, agrees that \u201cbuyers don\u2019t wait till spring to buy, it\u2019s the vendors who wait till spring to sell.\u201d<\/p>\n

He considers timing could be a more appropriate driver as people relocating in or out of Ballarat look at the school year and a 90-day settlement period which makes spring the ideal time to purchase.<\/p>\n

Sport also plays into the spring sales boom.<\/p>\n

People don\u2019t want to start their campaign and have to contend with the disruption around the football finals when there is very little activity said Tim Valpied, Director at hockingstuart Ballarat.<\/p>\n

\"\"
Tim Valpied.<\/figcaption><\/figure>\n

\u201cAfterall there are three weekends affected by finals if you include Central Highlands and the Ballarat Leagues as well as the AFL Grand Final,\u201d Mr Valpied said.<\/p>\n

\u201cThe market is in a great place at the moment. There is good buyer activity, there are good numbers attending open for inspections and the sales are still very strong.\u201d<\/p>\n

Mr Ludbrook also considers the mood of the market as quite positive, although he points out that Ballarat didn\u2019t see the decreases seen in sections of the Melbourne market.<\/p>\n

\u201cWhat we did see was a drop in the number of properties available for sale,\u201d he said. \u201cThe Melbourne market has turned and we are on an upward cycle again.\u201d<\/p>\n

REIV statistics show the median prices, up to June 30 in Melbourne auction clearance rates have been strongly increasing.<\/p>\n

Ballarat median prices increased 1.3 per cent in the June quarter and over the 12 months to 30 June property prices in the region went up 10.8 per cent.<\/p>\n

\"\"
Phillip Lee.<\/figcaption><\/figure>\n

Part of that is because there\u2019s a lack of property on the market at the moment and there are plenty of buyers, Mr Lee from Ray White said.<\/p>\n

\u201cThe market is very strong in Ballarat,\u201d he said.<\/p>\n

Central Ballarat is still seen as the fastest moving area within the city, however, the central market is now defined differently to what it was 10 years ago.<\/p>\n

Indicators point to Ballarat East, Golden Point and Mount Pleasant as now being considered central suburbs. In the last 12 months Golden Point median price rose by 32 per cent, while Mt Pleasant went up by 28.3 per cent.<\/p>\n

\u201cAs the CBD itself becomes more expensive there is no doubt that people looking for period style homes are also looking in Golden Point and Mount Pleasant,\u201d Mr Valpied said.<\/p>\n

As Mr Ludbrook puts it, \u201cAreas within a couple of kilometres from the middle of Sturt Street are now considered central.\u201d<\/p>\n

The experts agree the Ballarat rental market is also experiencing strong demands with vacancy rates continuing to be at or close to historical lows. That has in turn created a strong uplift on rental prices.<\/p>\n

The current vacancy rate is still low according to REIV figures, Mr Lee said.<\/p>\n

\u201cIn August Ballarat experienced vacancy rates of 1.6 per cent having started the year with a rate as low as 0.7 per cent,\u201d he said. \u201cREIV consider a balanced rental market, fair to both landlords and tenants, should sit at three per cent.\u201d<\/p>\n

Mr Ludbrook added, \u201cI don\u2019t see that changing in the new future.\u201d<\/p>\n

\u201cWe are seeing an increase in the length of a lease, we are now regularly seeing two and three year leases being signed for rental properties.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Final siren of the AFL grand final means it\u2019s time for the spring sales season to really kick off FOOTY fever has been cured, bees are buzzing in the blossom and the daylight lasts longer. Spring has sprung yet Ballarat\u2019s real estate gurus confess it is difficult to pin down the reason for the seasonal […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":135,"featured_media":64174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[29],"tags":[],"post_folder":[],"class_list":["post-64173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"\nProperty market continues positive push - Ballarat Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/ballarat\/real-estate\/property-market-continues-positive-push\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property market continues positive push - Ballarat Times\" \/>\n<meta property=\"og:description\" content=\"Final siren of the AFL grand final means it\u2019s time for the spring sales season to really kick off FOOTY fever has been cured, bees are buzzing in the blossom and the daylight lasts longer. Spring has sprung yet Ballarat\u2019s real estate gurus confess it is difficult to pin down the reason for the seasonal [...]Read More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/timesnewsgroup.com.au\/ballarat\/real-estate\/property-market-continues-positive-push\/\" \/>\n<meta property=\"og:site_name\" content=\"Ballarat Times\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-09T02:32:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.timesnewsgroup.com.au\/prod\/uploads\/sites\/9\/2019\/10\/20191009_130736-for-web.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4032\" \/>\n\t<meta property=\"og:image:height\" content=\"3024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Carol Saffer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Carol Saffer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/\"},\"author\":{\"name\":\"Carol Saffer\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/#\\\/schema\\\/person\\\/d2a01d07d928371dc8625632387dc04c\"},\"headline\":\"Property market continues positive push\",\"datePublished\":\"2019-10-09T02:32:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/\"},\"wordCount\":750,\"publisher\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.timesnewsgroup.com.au\\\/prod\\\/uploads\\\/sites\\\/9\\\/2019\\\/10\\\/20191009_130736-for-web.jpg\",\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/\",\"url\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/\",\"name\":\"Property market continues positive push - Ballarat Times\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.timesnewsgroup.com.au\\\/prod\\\/uploads\\\/sites\\\/9\\\/2019\\\/10\\\/20191009_130736-for-web.jpg\",\"datePublished\":\"2019-10-09T02:32:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/ballarat\\\/real-estate\\\/property-market-continues-positive-push\\\/#primaryimage\",\"url\":\"https:\\\/\\\/static.timesnewsgroup.com.au\\\/prod\\\/uploads\\\/sites\\\/9\\\/2019\\\/10\\\/20191009_130736-for-web.jpg\",\"contentUrl\":\"https:\\\/\\\/static.timesnewsgroup.com.au\\\/prod\\\/uploads\\\/sites\\\/9\\\/2019\\\/10\\\/20191009_130736-for-web.jpg\",\"width\":4032,\"height\":3024,\"caption\":\"Golden Point's median house price rose by 32 per cent over the last 12 months. 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