A once derelict Ballarat Central house is now worth three times more than it was three years ago.
Subscribe now for unlimited access.
or signup to continue reading
The four-bedroom house at 217 Talbot Street South sold to a Ballarat buyer last week for $1.35 million after only 38 days on the market.
The vendors bought the property in December 2020 for $450,000 and fully renovated it, adding an architecturally designed extension.
Listing agent Vicky Vermeend, of Jellis Craig, said the property tripled its value because it had been renovated from top to bottom.
"It was completely renovated it. It was quite derelict when they purchased it," Ms Vermeend said.
"It sold very quickly, very quickly."
The extensive renovation of the two-storey house, which included rewiring and plumbing, and a new roof, means the new owners can move in without doing any more work to the property.
A formal lounge, bathroom and three bedrooms are set in the original cottage, while a change to the extension is marked by a sliding glass door to the new kitchen and living and meals area.
Meanwhile, a Brown Hill lifestyle property topped last week's Ballarat sales results.
The Hillview Road four-bedroom home on about 3.4 hectares was sold for $1.6 million, according to data compiled by the Real Estate Institute of Victoria.
The picturesque property is close to the Gong Reservoir, outside the residential limits, in a farming zone.
Jellis Craig partner and agent Phil Hayward said the buyer, from Ballarat, bought the property for its land size and for being close to the Ballarat CBD.
It will give the new owners the opportunity to live in a rural setting without travel times to the CBD, schools and amenities.
"It was largely that acreage, getting that country acreage lifestyle so close to town," Mr Hayward said.
"It was a pretty unique property and that was probably what caused that higher price getting that amount of acreage close to town, obviously most of that particular area has been developed into residential property."
Mr Hayward said the million dollar sale was certainly a good sign for the market.
"I think at that top end it has been pretty slow since Christmas at that level so it's a good sign to have something sell," he said.
"We've had a few properties like this one that have started to transact so we're seeing a slight improvement I think."
The 203 Hillview Road property was listed for sale in March and spent 123 days on the market before it was bought.
Records show the last house to sell at top dollar in Brown Hill was in May 2022 when a three-bedroom, at 22 Boundary Road on 1.56 hectares, sold for $2 million.
Mr Hayward said the Hillview Road vendors did not want to disclose the formal sale price.
REGIONAL SALES RESULTS (July 31 to August 5)
ALFREDTON: Roscommon Av 576sqm $705,000 Jellis Craig.
BALLARAT CENTRAL: Talbot St South $1,350,000 Jellis Craig.
BALLARAT EAST: Stawell St South 214sqm $355,000 PRD Nationwide; York St 5rm $465,000 Fletchers.
BLACK HILL: Peel St North 793sqm $525,000 Ray White Ballarat.
BROWN HILL: Florence Ct 382sqm $360,000 Bartrop RE; Hillview Rd 33600sqm $1,600,000 Jellis Craig.
DELACOMBE: 203 Warrina Dr 944sqm undisc res undisc Ray White Ballarat.
GOLDEN POINT: Bond St 5rm $590,000 Fletchers.
GORDON: Stanley St 1269sqm $516,500 PRD Nationwide.
LAKE GARDENS: Faversham Av 840sqm $827,000 Jellis Craig.
MOUNT CLEAR: Bunny Hop Ct $875,000 PRD Nationwide.
NEWINGTON: Smith St 524sqm $558,000 Bartrop RE.
SEBASTOPOL: Tristan Dr $395,000 PRD Nationwide.
WAUBRA: Wilcar Dr 14488sqm $535,000 PRD Nationwide.
- Compiled by the Real Estate Institute of Victoria
Reading this on mobile web? Download our app. It's faster, easier to read and we'll send you breaking news alerts. Download in the Apple Store or Google Play.
