New land sales in Ballarat bounce back as blocks get bigger

March 22, 2024 4:00 pm in by
Image: RPM

New land sales and values have lifted in Ballarat for the December quarter defying dampened conditions across the broader Melbourne and Geelong growth corridors.

103 lots changed hands in Ballarat, that’s up 14%, whilst values also headed north by 3%.

Michael Staedler from research firm RPM says blocks also got bigger.

Article continues after this ad

“It should be remembered that the increase in price is relative to the land size.”

“The lot size increased through the quarter as well moving from 400m2 to I guess a more traditional Ballarat size of 448m2, so we saw an extra increase of about 12%,” Mr. Staedler said.

It was a significant turnaround for the region, which recorded a 25% fall in sales in the September quarter.