Ballarat
City of Ballarat, VIC 3350
Key Statistics
Ballarat is Victoria's third-largest city and one of Australia's fastest-growing regional centres. With a population exceeding 127,000 and strong transport links to Melbourne via V/Line (1h 19m direct), it offers investors a rare combination of affordable entry prices, ultra-low vacancy, and a deep tenant pool driven by government, health, education, and tourism employment.
Property Market
Co-Living Yield Comparison
Ballarat's median gross rental yield is 4.81% — a NextGen co-living property in the same area targets 10%+ gross yield through purpose-built, multi-tenancy design.
What is co-living?
Tenant Demand
Only 2.5% of dwellings in Ballarat are units or apartments
Virtually no co-living-style accommodation exists — a significant supply gap for investors.
Target Tenants
- Single, young professionals aged 20–35 who are currently renting
- Work or study locally within the Ballarat region
- Employed in government services, healthcare, education, retail, and hospitality
- Seeking affordable, low-maintenance accommodation close to amenities
Nearby Suburb Tenant Catchment (within ~10 km)
| Suburb | Population | Renters % | Renter Count | Singles % | Employment | Median Age |
|---|---|---|---|---|---|---|
| Ballarat North | 4,041 | 30.9% | 1,249 | 35.5% | 96.1% | 43 |
| Delacombe | 5,408 | 26.4% | 1,428 | 26.2% | 93.8% | 39 |
| Sebastopol | 10,194 | 40.4% | 4,118 | 38.1% | 93.1% | 39 |
| Alfredton | 11,822 | 30% | 3,547 | 20% | 96% | 35 |
| Total Tenant Pool | 10,342 | |||||
Over 10,000 renters live within 10 km of central Ballarat across the surrounding suburbs. With only 2.5% of dwellings classified as units or apartments, there is virtually no co-living-style accommodation available. This represents a significant supply gap for investors.
Local Amenities
Transport
Ballarat Station
V/Line to Melbourne, 20-min peak frequency, station upgrade completing April 2026
Major Employers
Ballarat GovHub
1,000+ government jobs, $100M economic boost
Grampians Health
Major regional employer across health services
Education
Federation University
Multi-campus regional university
Australian Catholic University
Ballarat campus
Health
Ballarat Base Hospital
Grampians Health: the primary regional hospital
Shopping
Stockland Wendouree
Major regional shopping centre
Tourism & Recreation
Sovereign Hill
450,000 visitors/year — tourism economy driver
Lake Wendouree
Parklands and walking trails
Why Invest?
Strong regional centre near Melbourne
Victoria's third-largest city (pop. 127,000+), just 1h 20m from Melbourne, with diversified employment across government, health, education, and tourism fueling sustained housing demand.
Ultra-tight rental market
Vacancy rate of just 0.6%, well below the 3% healthy benchmark. This means investor properties are occupied quickly with minimal void periods.
Attractive unit yields
Median unit price of $415,000 delivers a 4.81% gross rental yield at $385/week, and a NextGen co-living property in the same area targets 10%+ through multi-tenancy design.
Strong capital growth
Annual price growth of +9.13% for houses and +18.57% for units, with long-term average annual growth of +2.49%, demonstrating Ballarat's resilience as an investment market.
Co-living supply gap
Only 2.5% of dwellings are units or apartments. This means virtually no co-living accommodation exists in a city with over 10,000 renters across surrounding suburbs.
Major government & infrastructure investment
Ballarat GovHub ($100M, 1,000+ jobs), Ballarat Base Hospital expansion, and the station upgrade completing April 2026 are driving long-term population and employment growth.
Learn more about Co-Living investment properties
Enter your details below and our team will be in touch to answer your questions about co-living as an investment in Ballarat.