412 Wendouree Parade, Lake Wendouree, is the only $4m house to have sold in Ballarat.
The Ballarat market has sustained its popularity with buyers after notching its first $4m sale last year — even throughout the COVID-19 crisis.
Jellis Craig Ballarat director Tony Douglass labelled the regional city “the place to be”, with local and Melbourne-based buyers scrambling to secure homes there.
He tipped more $4m-plus sales to follow the record-breaking $4.25m deal he secured for a seven-bedroom lakeside mansion, with a tennis court and indoor pool, early last year.
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412 Wendouree Parade, Lake Wendouree’s large block featured a tennis court.
Ballarat’s top-selling house also offered an indoor pool.
The 1992sq m property at 412 Wendouree Parade, Lake Wendouree still holds the house price benchmark for postcode 3350, according to CoreLogic.
Its sale to a local family broke the previous record (424 Wendouree Parade’s $3.73m) by more than half a million dollars.
No. 424 changed hands off market in early 2018 and remains Ballarat’s second-priciest seller, CoreLogic records show.
“We’re seeing more interest in the $2-3m range, and I would expect there are a number of homes on Wendouree Parade that are worth $4m,” Mr Douglass said.
424 Wendouree Parade, Lake Wendouree, holds Ballarat’s second-highest reported residential price following a 2018 off-market deal.
Bishops Palace at 1444 Sturt Street, Lake Wendouree, achieved Ballarat’s first $3m house sale.
This stretch encircling Lake Wendouree and streets flowing off it, namely Webster Street, are home to Ballarat’s 10 highest-selling homes.
Coming in third place on the list was another Lake Wendouree house at 1444 Sturt St, also known as Bishops Palace, which achieved Ballarat’s first $3m sale in 2014.
The 1877-built Gothic mansion set on 1.6ha of botanical gardens now functions as a boutique accommodation business, offering six regal suites.
Bishops Palace is now boutique accommodation.
A divine spa at Bishops Palace.
Another highlight of the top 10 is a five-bedroom house on more than 1000sq m of lakeside land at 120 Wendouree Parade, which featured a 1200-bottle wine cellar and a pool and fetched $2.925m late last year.
A residence flanked by resort-style grounds at No. 309 on the golden street also made the list thanks to its $2.7m sale in 2014.
And a 1928-built five-bedroom home at 129 Webster Street, with a modern extension and a striking period-style bathroom with its own fireplace, emerged as Ballarat’s highest-selling house of 2020 so far. It fetched $2.55m in April.
120 Wendouree Parade, Lake Wendouree, sold for $2.925m late last year.
Sleek living spaces inside 120 Wendouree Parade.
Mr Douglass said closeness to several standout schools — including Ballarat Clarendon College, which was named Secondary School of the Year at the 2019 Australian Education Awards — further boosted Wendouree Parade and Webster Street.
He said while the first COVID-19 wave slowed the Ballarat market right down, it bounced back in June and July, with his agency notching 69 sales in the latter month. This was well above the normal yield of 35-40.
Living at 309 Wendouree Parade, Lake Wendouree, is like living at a resort.
309 Wendouree Parade sold for $2.7m in 2014.
They included the $880,000 sale of four-bedroom, 1930s-era house at 103 Chisholm Street, Soldiers Hill, to Melbourne-based buyers.
Major drawcards for out-of-town purchasers had included Ballarat’s quality private schools that didn’t break the bank and affordable period houses, Mr Douglass said.
He had also seen a recent surge in demand for 2-4ha lifestyle properties on Ballarat’s fringe, in areas like Invermay and Buninyong.
129 Webster Street, Lake Wendouree, is Ballarat’s highest-selling house of 2020 so far.
This bathroom is a highlight of 129 Webster Street.
While Melbourne buyers aren’t permitted to travel to regional Victoria to inspect homes during the stage four lockdown, Mr Douglass is expecting the floodgates to open when the restrictions ease.
“We’re excited about what the spring’s going to bring,” he said.
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1. 412 Wendouree Parade, Lake Wendouree:
$4.25m, February 2019
2. 424 Wendouree Parade, Lake Wendouree:
$3.73m, January 2018
3. 1444 Sturt Street, Lake Wendouree:
$3m, October 2014
109 Webster Street, Lake Wendouree sold for $3m in 2016.
Inside 109 Webster Street.
4. 109 Webster Street, Lake Wendouree:
$3m, November 2016
5. 120 Wendouree Parade, Lake Wendouree:
$2.925m, November 2018
6. 309 Wendouree Parade, Lake Wendouree:
$2.7m, October 2014
143 Wendouree Parade, Lake Wendouree, is another of Ballarat’s top sellers at $2.6m.
A snazzy bedroom at 143 Wendouree Parade.
7. 143 Wendouree Parade, Lake Wendouree:
$2.6m, February 2018
8. 129 Webster Street, Lake Wendouree:
$2.55m, April 2020
13 Wendouree Parade, Lake Wendouree, sold last year, according to CoreLogic.
A bar, rumpus room and indoor pool at 13 Wendouree Parade.
9. 13 Wendouree Parade, Lake Wendouree:
$2.45m, March 2019
112A Wendouree Parade, Lake Wendouree, fetched $2.34m last year.
The sleek interior of 112A Wendouree Parade, Lake Wendouree.
10. 112A Wendouree Parade, Lake Wendouree
$2.34m, July 2019
Some off-market or undisclosed transactions may be missing. Only single residential dwellings included