127 Errard Street S, Ballarat Central VIC 3350
127 Errard Street S, Ballarat Central VIC 3350
Inner-city heritage character house | walkable to CBD, schools, hospitals | large-land potential in premium central pocket | wide value range driven by condition | heritage overlay likely
This is a genuinely rare type of holding for central Ballarat: a character-house address on a substantial lot, sitting within a tree-lined, heritage-influenced streetscape that is steps from the CBD, health precinct, and private schools. The immediate pocket holds both modest original dwellings and large, premium rebuilds, which means the property’s true strength lies in its land size and the flexibility that comes with it. For a buyer seeking a central, low-commute lifestyle with strong family appeal, or for someone looking to renovate or rebuild to a high standard, this address offers a competitive edge that most suburban stock cannot match. It suits owner-occupiers who value character, walkability, and space, as well as those with the appetite to improve.
Value may swing sharply depending on the dwelling’s current condition, the exact land dimensions, and whether any heritage overlay restricts external changes. A well-preserved or upgraded house on a larger block could command a premium, while an original, dated dwelling might offer better upside for a buyer willing to invest. The street’s mix of older homes and recent rebuilds suggests price outcomes are heavily condition-driven, so a thorough inspection of building fabric, layout, and any council constraints is essential before forming a view.
Detailed Independent Property Report prepared by PropCred Analyst team for 127 Errard Street S, Ballarat Central VIC 3350
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
Income Risk
Execution Risk
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Market Insight
Ballarat Central is a mid-priced regional market relative to Melbourne, with a median house price of $682,000 and units at $434,000. Demand is led by professionals and families attracted to heritage charm, parks, schools, and the arts scene, with stable demographics and broad mid-range pricing reinforcing the buyer base. House prices have risen 21.2% annually; units are up 24.0% or 19.8% for the year to Q4 2025. Gross rental yields sit at 3.4% for houses and 4.6% for units, supported by an undersupplied rental market: house rents rose 7.0% while houses rented fell 11.9% to 402 in Q4 2025. Growth drivers include $539.1M of projects commencing in 2026, including $53.4M infrastructure. The key constraint is supply: only 68 townhouses, 158 units, and 44 houses are planned against quarterly sales of 788 houses and 166 units, intensifying price pressure.
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PropCred Estimated Value
Comparable Sales: 215 Errard Street South sold $410,000 (March 2024); 104 Errard Street South listed $595,000–$635,000 | Property Price Band: $600,000–$700,000 | Value Drivers: land size, dwelling condition, heritage overlay impact
Bedrooms
2
Bathroom
1
Parking
-
Land
231m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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