Ballarat's housing market is the quickest seller in the state

BALLARAT'S new housing estates are coming off the market in record time as more and more people take advantage of low comparative prices to the city and a myriad of federal government grants.

But it is a more established suburb which is leading the way across all of regional Victoria as new residents look for a more central position to the city.

Real Estate Institute of Victoria figures for 'days on market' for the June quarter show not only is it possible to sell in Ballarat, but the city is leading the way in the pace of sale as well.

Of the top 20 regional suburbs in terms of sale time around the state, 10 are in Ballarat, with the quickest seller the manicured lawns and rose bushes of Lake Gardens at just 24 days average time on market.

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In fact, of the 10 Ballarat suburbs that make the top 20 in Victoria, the longest any suburb is spending on the market is 33 days.

But the speed of Lake Gardens comes as no surprise to Ballarat's real estate agents. Caine Property's Peter Martin, who currently has a property for sale in the suburb, said for many buyers, the central position was a priority.

"We sold one a couple of months back after just eight days on the market," Mr Martin said.

"It one of the convenient spots in Ballarat. There's only a couple of entry points, so generally it's people within Lake Gardens that is the traffic you see. You've got the lake, aquatic centre, gardens, it's all there."

BALLARAT'S FASTEST SELLERS

Lake Gardens 24 days

Winter Valley 25 days

Delacombe 27 days

Canadian 29 days

Sebastopol 29 days

Ballarat Central 30 days

Alfredton 30 days

Ballarat North 32 days

Mount Clear 32 days

Brown Hill 33 days

Jellis Craig's Tim Valpied agreed. "24 days is absolutely correct, I've got no doubt about that," Mr Valpied said.

"If you take a pin and place it at the centre of the map, due to the developments out west, the centre of Ballarat really has moved to west of the lake.

"You've also got Wendouree train station right there, Stockland is within walking distance and then of course the schools, the high school, Grammar, St Pats, Loreto, Clarendon, they are all very close. It ticks so many boxes."

New estate areas continue to boom as well. Winter Valley has an average time of just 25 days, Delacombe 27 days and Alfredton 30 days.

Of the more established suburbs, Canadian has been the big winner.

Not only has its median price increased by the largest percentage in the state in the three months to the end of June, but it's time on market figure has shrunk from an average of 36 days to just 29.

Another big mover in the past three months has been the hobby farm market with properties in areas like Haddon, Ross Creek and Smythesdale among the quickest sellers.

Mr Valpied said the Delacombe Town Centre had everything a person required, and that he had seen these areas near Ballarat pick up substantially.

"It's had a huge impact on Ballarat, having a K-mart, a huge Bunnings, cinemas, we've seen huge interest in that area," he said.

REIV president Leah Calnan said the state's property market was holding firm.

"These figures provide great confidence to sellers, that buyers are rapidly snapping up Victorian real estate," she said.