Yes you can do this, you might find it is even cheaper to go to an electrical wholesaler, I recently priced up 400w ballasts at $100 from a electrical wholesaler (no I don't have account etc, this was just walking in off the street).
There are a few things to know, firstly you can get magnetic or electronic ballasts. I haven't priced up electronic but expect they cost more. However they use less power, give off less heat, and are far lighter, I have also read that your bulbs will last longer and keep their colour longer. Next with some bulbs (DE 250w I think) there is a 'German' and 'Chinese' version that use slightly different voltages (and therefore current) if you have the wrong bulb in the wrong ballast it wont last nearly as long. Lastly like most things ballasts are not all created equal, plus some brands of bulbs work better in some ballasts, cheap ballasts can shorten bulb life, etc, etc. But the problem is in NZ there is almost not selection so unless you want to import ballasts IMO buy the cheapest you can find, it's probably the same as the more expensive one anyway.
Some light reading if your keen... http://www.reeflightinginfo.arvixe.com/index.htm