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I think there's definitely some good investing possibilities there. My only concern would be the amount of new building and land released on the western side of town. The central location of some of the Uni is a big plus. Although I imagine you'd do fine renting to students out Mt Helen...

The main issue with investing in Ballarat (unlike a coastal or capital) is that there is an abundance of vacant land on basically every side. Since about 5-7 years ago Ballarat has had a really surge. Population growth, new housing, some new industry, plus lots of people moving from...