Ballarat's Best-Kept Secret: The Affordable Suburb Outperforming All Its Neighbours

Ballarat's suburb of Delacombe has taken the top spot as the most affordable suburb outperforming its neighbours, with a median house price of $440,000, significantly lower than the city's median of $510,000.

This matters now because the current market trends are showing a shift towards more affordable options, with many buyers being priced out of Melbourne and looking to regional areas like Ballarat for better value. The demand for affordable housing is on the rise, and suburbs like Delacombe are benefiting from this trend. The Ballarat City Council's investment in infrastructure, such as the Delacombe Town Centre redevelopment, is also contributing to the suburb's growth.

Delacombe is situated near the popular Lake Wendouree, a major drawcard for families and outdoor enthusiasts, and is also close to the Alfredton growth corridor, which is experiencing significant development. The suburb is home to the Delacombe Primary School and is just a short drive from the Stockland Wendouree shopping centre. The Ballarat Sports and Events Centre is also nearby, making it an attractive option for families and young professionals.

Market Trends and Data

According to data from the Real Estate Institute of Victoria, Delacombe has seen a significant increase in sales activity over the past 12 months, with a total of 120 houses sold, and a median house price growth of 10%. The suburb's affordability, combined with its proximity to amenities and services, makes it an attractive option for first-home buyers and investors. The median rent in Delacombe is $380 per week, providing a gross yield of 4.5% for investors.

For those looking to invest in Delacombe, it's essential to do your research and work with a reputable real estate agent who knows the local market. The Ballarat Real Estate Agents Association recommends working with an agent who is familiar with the suburb and can provide valuable insights into the local market trends. With its affordable prices, strong growth potential, and proximity to amenities, Delacombe is an excellent option for those looking to enter the Ballarat property market.