Miners Rest is a compact suburb in Victoria within the Ballarat local government area (postcode 3352). With a population of 3,829, the suburb has a mix of families and early-career residents with a median age of 33. Households earn a median income of $103K per year, with an average household size of 2.8 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.7% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are technicians & trades, professionals, community & personal service. Employment in the area leans toward healthcare and construction. The top ancestries reported are Australian, English, Irish.
The median house price in Miners Rest is $575,000, having dipped slightly by 2.5% over the past year. The current median weekly rent is $420. This gives a gross rental yield of approximately 3.8%. The median monthly mortgage repayment is $1,517.
Miners Rest is served by 1 school, including 1 primary. The average ICSEA score is 994, which is around the national average of 1,000. Public transport access includes 17 bus stops. The crime rate in the Ballarat LGA is higher than average at 11,695 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 3.8% (moderate yield). Property prices sit below the state median ($575K/$875K), which can point to relative value. The price-to-income ratio of 5.6x is considered affordable. House prices have moved -2.5% year-on-year. Population growth of +1.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.