3/242 Victoria Street, Ballarat East VIC 3350
3/242 Victoria Street, Ballarat East VIC 3350
Compact 2-bed townhouse | Heritage overlay location | Strong rental appeal | Suited to downsizers or first buyers | Small 212 m² lot
This townhouse offers a rare compact format in a suburb where most stock is made up of larger period homes on generous blocks. Its two bathrooms and single car space give it practical appeal for a downsizer looking to simplify without losing comfort, or a first-home buyer wanting a low-maintenance entry into an established, central pocket of Ballarat East. The heritage overlay adds character credibility and protects the streetscape, which tends to support long-term desirability. With an estimated rental return around $400 per week, it also functions credibly as an investment, sitting comfortably within a market that draws families, renovators, and developers to the surrounding area.
The small 212 m² lot may limit redevelopment potential compared to nearby standalone houses, and the heritage overlay could constrain any future alterations. The townhouse format itself typically appeals to a narrower buyer pool than a period home on a larger block, which might affect resale liquidity. Buyers should weigh the convenience of a compact, efficient layout against the premium often paid for land in this suburb. Condition and internal fitout, while not detailed here, will likely play a significant role in how this property compares to others in its price range.
Detailed Independent Property Report prepared by PropCred Analyst team for 3/242 Victoria Street, Ballarat East VIC 3350
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
URL has been copied successfully!
Market Insight
Ballarat East (3350) is positioned as a tight, seller-friendly residential market with a median house price of $520,000 and 12.19% annual capital growth, though the past 12 months show a softer 3.65% gain. Units are weaker, down 5.38% year-on-year to a $378,500 median. Demand is underpinned by Ballarat-wide sales momentum—house sales surged 30.7% and unit sales 16.9% in Q4 2025—against limited new supply: 44 houses, 158 units and 68 townhouses are planned, below current transaction volumes. The 0.7% vacancy rate sits well under the 3% benchmark, supporting house yields of 4.41% and unit yields of 5.01%. Houses sell in around 42 days. Future growth drivers include $539.1 million in 2026 projects, including $53.4 million infrastructure, plus strong school catchment demand. Key constraints are deepening undersupply and a seller’s market that may stretch affordability.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 247 Victoria Street sold at $680,000; 245 Victoria Street sold at $760,000 | Property Price Band: $500,000–$600,000 | Value Drivers: compact layout, heritage location, rental yield potential
Bedrooms
2
Bathroom
2
Parking
1
Land
212m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!