Mount Pleasant Property Market & Buyers Agents 2026

The property market in Mount Pleasant presents a compelling case for both homebuyers and investors, characterized by its relative affordability and consistent growth trajectory. As of May 2026, the median house price sits at approximately $548,000, marking a significant year-on-year growth of over 10%. This upward movement is not a recent phenomenon; the suburb has demonstrated a robust five-year growth of over 35%, indicating strong underlying fundamentals rather than speculative heat.

Supply and demand dynamics are currently favouring vendors. Properties are selling quickly, with average days on market sitting at a brisk 38 days, well below the regional average. This rapid turnover points to a high level of buyer interest that outstrips the available housing stock. The low inventory levels are a key factor supporting price resilience and reducing the risk of market downturns. For investors, the metrics are equally attractive. The rental market is tight, with a healthy rental yield for houses around 4.1%. Units show an even stronger performance, with a median price of $465,000 and remarkable annual capital growth approaching 30%, coupled with yields around 4.5%. The primary drivers behind this market activity are affordability and lifestyle. Compared to Ballarat Central and other major regional hubs, Mount Pleasant offers a more accessible entry point for first-home buyers and young families. These demographics are drawn to the suburb's larger block sizes, period homes ripe for renovation, and quiet, community-focused environment. The suburb's proximity to the Ballarat CBD, just a few kilometres south, ensures residents have easy access to employment, retail, and services without paying the premium of a central address. There are no major new infrastructure projects slated exclusively for Mount Pleasant, but its value is intrinsically linked to the broader growth of Ballarat, which continues to attract population and investment.

Mount Pleasant is a suburb steeped in the history of the Victorian gold rush, located just two kilometres south of Ballarat's city centre. Its character is defined by a mix of charming Victorian and Edwardian weatherboard homes alongside more modern infill housing, creating a diverse streetscape. The suburb is known for its quiet, leafy streets and a strong sense of community, partly due to its geographical position nestled between the Yarrowee Creek and the White Horse Range. Families are well-catered for with educational facilities. The suburb is home to the historic Mount Pleasant Primary School, which has been a community cornerstone since 1874. Several other primary and secondary schools, including Phoenix P-12 Community College and Mount Clear College, are located in adjacent suburbs and are easily accessible. Public transport is primarily serviced by buses, with routes like the Route 23 connecting Mount Pleasant directly to the Ballarat Railway Station and the CBD, offering V/Line train services to Melbourne. While the suburb itself has limited commercial precincts, major supermarkets, restaurants, and shopping centres are just a short drive away in neighbouring Sebastopol and Ballarat Central. Green spaces are a key feature of the suburb. Residents enjoy access to several parks, including the large Mount Pleasant Reserve, which features a playground and a dedicated Seniors Exercise Park. Other local reserves like Crouch Park and Jack Greville Park provide further opportunities for recreation and leisure. The proximity to the Yarrowee River Trail also offers walking and cycling paths for outdoor enthusiasts.