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Miners Rest suburb profile

Miners Rest is a charming rural suburb located just north of Ballarat in Victoria, offering a peaceful lifestyle with a touch of country charm. Known for its rich history linked to the gold rush era, the suburb features a mix of heritage homes and modern developments. Miners Rest is popular among families and retirees seeking a serene environment with a strong sense of community. The area provides easy access to local amenities, schools, and recreational facilities, including the picturesque Lake Learmonth. Its proximity to Ballarat ensures residents enjoy both the tranquility of rural living and the convenience of city amenities.

Miners Rest property market performance

Miners Rest has experienced a robust property market over the past 12 months, with house values increasing by 11.3%. The current median house price stands at $695,000, reflecting strong demand in the area. However, there has been no activity in the unit market, with no units sold or rented, indicating a lack of supply or demand for this property type.

In terms of sales activity, 24 houses have been sold over the past 12 months, with houses spending a median of 34 days on the market, suggesting a relatively quick turnover for properties in the area.

The rental market for houses in Miners Rest has also seen positive growth, with average rents increasing by 6.8% over the last year, reaching $470. This indicates a healthy demand for rental properties in the suburb.

HousesUnits
Median price
Past 3 months
$690KN/A
Change in value
Past 12 months
16.6%N/A
Sold
Past 3 months
21N/A
Median days on market
Past 12 months
32N/A
Average rent
Past 12 months
$475N/A
Change in rent
Past 12 months
8.0%N/A

5 year median price trend for houses and units

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Miners Rest demographics

Miners Rest, located in the picturesque region of Victoria, is a charming suburb that offers a blend of rural tranquility and suburban convenience. With a population of 3,829, it is a close-knit community that appeals to families and individuals seeking a peaceful lifestyle. The median age of 33 suggests a youthful demographic, with many young families choosing to settle here, attracted by the area's family-friendly environment and community spirit.

The suburb's housing market is predominantly owner-occupied, with 59.3% of properties owned with a mortgage and 23.8% owned outright. This indicates a stable community with a significant number of long-term residents. The relatively low rental rate of 16.9% suggests that Miners Rest is more popular among those looking to establish roots rather than transient renters. The median total household income of $1,983 per week reflects a comfortable standard of living, supporting the area's appeal to families and professionals alike.

Family life is a central aspect of Miners Rest, with 48% of households being couple families with children, and 36.8% being couple families without children. The presence of one-parent families, making up 14% of the community, adds to the suburb's diverse family structure. The area's serene environment, coupled with its proximity to Ballarat, provides residents with the perfect balance of rural charm and access to urban amenities, making Miners Rest an attractive option for those seeking a harmonious lifestyle.

Suburbs near Miners Rest

Some popular suburbs near Miners Rest include:

  • Mitchell Park: Known for its spacious residential areas and community parks, Mitchell Park is located to the southeast of Miners Rest.
  • Wendouree: Featuring a bustling shopping district and recreational facilities, Wendouree is situated to the south of Miners Rest.
  • Cardigan Village: Offering a rural lifestyle with a close-knit community, Cardigan Village lies to the west of Miners Rest.
  • Cardigan: Known for its expansive landscapes and equestrian facilities, Cardigan is located to the southwest of Miners Rest.
  • Lake Gardens: Renowned for its picturesque lake and botanical gardens, Lake Gardens is situated to the south of Miners Rest.

How does Miners Rest compare to nearby suburbs?

  • Median house prices: Miners Rest’s median house price is 24.4% higher than Wendouree’s.
  • House price growth: Over the past 12 months, house prices in Miners Rest have grown 3.0% higher than in Mitchell Park.
  • Selling speed for houses: Properties in Miners Rest are selling 27.3% faster than in Cardigan.

Choose the right real estate agents in Miners Rest

Currently, there are 54 real estate agents working in Miners Rest—but not all agents deliver the same results. The right agent could make a huge difference to your final sale price.

Only 5 out of these 54 agents sold 21.6% of all properties in Miners Rest over the past year. Choosing one of these top-performing agents means tapping into proven expertise for a better sale outcome.

Real estate agents in Miners Rest typically charge a commission of 2.13% to 3.25%. Negotiating a fair commission rate and the right structure can motivate your agent to work even harder, helping you sell for more and potentially saving you thousands of dollars.

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