Data shows the most expensive Ballarat suburbs to buy a house in 2023

According to July data from the Real Estate Institute of Victoria, the most expensive suburbs to buy was Lake Gardens, Lake Wendouree, Buninyong, Mount Helen, Nerrina, Newington, Lucas and Ballarat North - all with a median price of over $650,000.

Median house prices have dropped on average 1.7 per cent since March. Some areas had an increase while others had a much more dramatic drop.

LAKE GARDENS

The median price for a house in Lake Gardens was $735,000, down four per cent. There were about 14 properties for sale in the suburb, with many sitting around this price range but some asking for $1.5 million.

One five-bedroom home on St Glens Way which has an asking price of $1.5 to $1.6 million.

LAKE WENDOUREE

A house in Lake Wendouree could set you back around $1.3 million, according to the median price, a quarterly increase of 4.6 per cent.

There were 22 properties up for sale in Lake Wendouree.

There were some units for around the $800,000 mark, but for something more luxurious, there was a $4.5 million property up for grabs on Wendouree Parade.

The lakeside house includes a wine cellar, home cinema and a gym.

BUNINYONG

The median Buninyong house price dropped a whopping 14.5 per cent since March. It's median went from $877,000 in March to $750,250.

Houses for sale in the area include properties around the median mark as well as properties upwards of $1.5 million.

There were 35 properties on the market, with one sitting on five hectares of land with a $1.8 million price tag.

The Midland Highway home features five bedrooms and can also house 10 cars in its garage.

MOUNT HELEN

This suburb had an increase in median house prices as well, from $635,000 to $652,500, a jumper of 2.8 per cent.

Out of the 27 properties for sale, those in the market can find a few properties with a price around the $1.5 million mark.

Outside of dwellings, there were a few land plots, from new subdivisions like those on Whitney Close and Nyora Grove to a $700,000 plots of land covering 6344 metres squared on Geelong Road.

NERRINA

There were just six listings for the Nerrina suburb which also saw an increase in median house prices since March.

A 13.2 per cent jump mean the median price for a house in Nerrina tipped over the $1 million mark at $1,005,000.

None of the current listing reach the million dollar figure, with the highest being a five-bedroom Lofven Street property with an asking price of around $900,000.

NEWINGTON

This suburb had a median price of $765,000 in the latest data, a 3.2 per cent drop from its median price in March which was $790,000. There were only eight listings in this area, with one house around the $1 million mark in Durham Street. Recently sold properties had a much higher price tag with an Alfred Street South house selling for $2 million.

LUCAS

The developing suburb of Lucas had over 100 listings for sale. The REIV data showed a drop in median houses in the past few months, with the median now $686,250, down 1.6 per cent.

Along with land blocks, developed houses varied in price from the $500k mark to upwards of $1m, including a recently sold Shortridge Drive home, selling for $1.6m.

BALLARAT CENTRAL

With a median of $650,000 for houses, this area increased in price since March by 0.8 per cent. There were a variety of homes, from units for around $240,000 to places on the market between $1.1 to $1.5m. A Doveton Street seven-bedroom heritage property is for sale for the first time in 18 years with a price tag of almost $2m.

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