Realestate.com.au released an article earlier this year unveiling a list of Australia’s hottest regional suburbs based on opinions from industry experts, with two goldfields suburbs making the Top 5 in the nation.

As part of the inaugural Hot 100 suburbs to watch in 2023 (which was released at the end of 2022), both Ballarat Central and Kennington were inclusions in the top 5 across Australia, joining Cessnock and Mayfield in NSW and The Range in QLD. Alfredton, located just west of Ballarat Central, was also named in the Hot 100.

The Hot 100 was compiled from the insights of a panel of industry experts, and complemented by PropTrack data and economic analysis. Criteria for a suburb to be named on this list included amenities, affordability, family appeal, location, investment prospects, gentrification, population growth, demographic change, and infrastructure.

“Ballarat Central is a great place to live and residents enjoy a truly ‘walkable neighbourhood’ that’s close to the lively CBD, surrounded by parks and good schools, and near excellent transport links to Melbourne," said Miriam Sandkuhler, Chief Executive of Property Mavens and one of the panel experts.

Kennington, which is located right next to Bendigo’s town centre, also ticked many criteria boxes.

“The suburb is well-serviced by shops and has a number of good schools. It’s landlocked with no real available land for new development,” said Kate Hill, Property Buyer at Adviseable and another member of the Hot 100 panel. “The current rental vacancy rate (as of December 2022 when the article was printed) is low and based on typical average prices, landlords can expect about a 4% yield.”

Kennington’s appeal is also helped by its location next to La Trobe University, which makes it attractive to savvy investors.