Regional towns are booming

Regional Australia has seen a huge increase in housing demand recently as home buyers are being priced out of the larger cities.

But housing alone isn’t what’s attracting these buyers as some are seeking employment opportunities in these areas as well because of their strong economic growth.

This demand for housing is driving up property prices in regional Australia and among those seeing the biggest growth is Ballarat.

Ballarat had the highest growth in demand over the past 12 months at an astounding 62.1%. The city’s proximity to Melbourne seems to make it a viable option worth considering for most home buyers. And with the median house price in Ballarat being nearly half that of Melbourne, it is an extremely affordable one, too.

Given that it is larger housing types that are being purchased, it is most likely first home buyers and young families that are driving market growth. Ballarat has a style of housing that many Melburnians love and an attractive community for young families and couples.

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This article was originally featured on realestate.com.au