We consider the problem of finding a balanced ordering of the vertices of a graph. More precisely, we want to minimise the sum, taken over all vertices $v$, of the difference between the number of neighbours to the left and right of $v$.
One of our main results is to prove NP-hardness for graphs with maximum degree four. Furthermore, we prove that the problem remains NP-hard for planar graphs with maximum degree four and for 5-regular graphs. On the other hand, we introduce a polynomial time algorithm that determines whether there is a vertex ordering with total imbalance smaller than a fixed constant, and a polynomial time algorithm that determines whether a given multigraph with even degrees has an `almost balanced' ordering.