Prestige returns, first-home energy, and investor buys define the week ending 16 May 2025
As Ballarat’s temperature begins to drop, the market is showing no signs of cooling. Buyers are leaning confidently into prestige purchases while the sub-$500K market continues to buzz with competition from investors and first-home hopefuls. From leafy Buninyong to the edge of Alfredton and the semi-rural surrounds of Ross Creek, buyers chased space, location, and long-term value. The mix of property types this week shows a layered market with demand pushing in all directions — and not just from locals.
Let’s break down the key sales activity across price brackets and suburbs to uncover where confidence is building and where opportunities are emerging.
Prestige Sales – Lifestyle and Location Still Command Top Dollar
Buyers chasing lifestyle properties with room to grow were active in Ballarat’s upper market, with a clear appetite for homes that blend liveability with location.
- 2 Allan Street, Buninyong achieved $850,000 through Tony Zelencich of McGrath Ballarat, with four bedrooms, two bathrooms, and six car spaces on 1,221sqm. Its classic charm, central Buninyong location, and generous block made it a standout.
- 5 St Michaels Place, Lake Gardens sold for $800,000 by Dominic Morrison of Ballarat Real Estate. With three bedrooms and four car spaces, this premium listing reflects continued buyer demand for tightly held Lake Gardens addresses.
- 8 St Mirren Drive, Nerrina reached $803,000 via Sean Toohey from McGrath Ballarat. The elevated, four-bedroom home sat on 622sqm and exemplified Nerrina’s appeal to buyers seeking serenity with proximity to the city.
This week’s prestige buyers appeared highly targeted — looking for properties with either premium location, superior land size, or unique character.
Mid-Range Momentum – Family Buyers Fuel the $500K–$700K Market
The middle of the market remained highly active, with family homes moving quickly and many suburbs showing reliable turnover.
- 28 Waranga Street, Nerrina sold for $700,000 through Tim Veal of Buxton Ballarat. Nerrina again demonstrated strong pull with its semi-rural atmosphere and larger blocks.
- 32 Limetree Way, Lake Gardens, sold for $685,000 by Jo Thornton of Ray White Ballarat, continued the suburb’s consistent results, reflecting high demand from professional families.
- 5 Lorensini Road, Lucas, achieved $685,000 via Peter Burley from Buxton Ballarat. With three bedrooms, two bathrooms, and a 600sqm block, the property highlighted Lucas’s growing reputation as a turnkey family suburb.
- 615B Havelock Street, Soldiers Hill, fetched $670,000 thanks to Brooke Reynolds at Jellis Craig. The sale affirms Soldiers Hill’s inner-city prestige appeal with heritage charm.
The takeaway? Buyers in this bracket are prepared to spend, but want quality locations, low-maintenance builds, and proximity to schools and transport.
Affordable Market – Investors and First-Time Buyers Keep the Floor Busy
With competition fierce under $500,000, units, townhouses, and smaller dwellings continue to attract strong attention — especially in Sebastopol, Redan, and Wendouree.
- 113 Beverin Street, Sebastopol sold for $432,500 via Richard Gent of Ballarat Real Estate. With three bedrooms and ample shedding, it represents great value for a freestanding home.
- 4/903 Geelong Road, Canadian, a three-bedroom townhouse, sold for $415,000 through Tony Zelencich (McGrath Ballarat). Its tidy floorplan and central location appealed to investors.
- 2/719 Skipton Street, Redan secured $385,000 with Will Munro at Ray White Ballarat. The townhouse offered two bedrooms and modern finishes with good return potential.
- 47 Sullivan Street, Lucas, a 607sqm land parcel, sold for $300,000 via Subhash Godara (Goldfish Real Estate). This sale signals that undeveloped land is still within reach for builders or long-term investors.
- 12/10 Simpson Street, Black Hill, a one-bedroom, one-bathroom unit, transacted for $241,600 through Sarah Skinner of McGrath Ballarat — ideal for budget-conscious investors or singles.
Many of these properties offered strong rental appeal or entry-level pricing, indicating this segment remains fiercely competitive.
Notable Suburb Insights
- Sebastopol had multiple transactions this week across different price points, indicating high demand and affordable availability.
- Lucas continued to build its reputation as a master-planned, family-friendly suburb with both established homes and land sales.
- Nerrina punched above its weight with two high-value sales, showing demand for semi-rural lifestyle close to town.
- Canadian and Redan offered budget-friendly townhouses with consistent turnover, making them top picks for investors.
Emerging Buyer Trends
- Lifestyle still leads. Large blocks and serene suburbs like Ross Creek and Nerrina are seeing consistent interest from buyers wanting space.
- Turnkey demand is strong. Properties that require minimal updates are attracting fast offers — especially in Lake Gardens and Lucas.
- Investor interest holding steady. Units and townhouses under $450K continue to sell well, especially when paired with low maintenance and proximity to schools or CBD.
Key Takeaways
- Buninyong and Lake Gardens continue to attract premium buyers.
- Sebastopol and Redan are providing consistent sales in the sub-$450K market.
- Nerrina emerges as a mid-to-high range lifestyle hotspot.
- Investors are still hunting townhouses with good returns and low overheads.
Market Outlook
Heading into the second half of May, buyer sentiment in Ballarat remains solid. With steady clearance rates and a consistent flow of listings, the market is holding its shape despite broader economic caution. Expect continued activity from both upgraders and investors as winter sets in, particularly in high-performing pockets like Lucas, Canadian, and Soldiers Hill.
If you’re considering listing in the coming weeks, properties with presentation, practicality, and a strong location are being snapped up quickly — especially if priced realistically.