any ideas on this stats Ballarat suburb

[zi974]

Hi friends,

just wondering if anyone knows whats behind this 25% increase in median price last 12 months in black Hill near Ballarat, is there some infra being built??? etc

http://www.investsmart.com.au/property/search.asp#SharesTable

Thanks

 

[jacbmw]

There is a $340mill highway upgrade on the road to Sydney...Maybe that would account for some...

Also another $3b worth of infra. in Newcastle, but think this might be a little far away to have been a result of this development.

 

[Neophyte]

Black Hill isn't really a suburb. i.e. there's only 5 properties listed and it being regional those could be on the market for months.

Ballarat North is really the suburb to check for that area.

I suspect it is just small number statistics making it look like high growth.

The other possibility is that the recent(ish) developments north of Norman st, near free-way, might be pushing the results up since there are plenty of $500K+ houses there.