322A Lyons Street S, Ballarat Central VIC 3350

322A Lyons Street S, Ballarat Central VIC 3350
3-bed period house on 523m² | Tightly held heritage street | Walk to CBD | Original period features intact | Heritage overlay constrains changes This house is positioned in a scarce niche in Ballarat Central: a three-bedroom period home on 523 square metres, on a tightly held heritage street. The configuration is far more substantial than nearby apartments, with stronger owner-occupier appeal and retained investor interest. Original features such as high decorative ceilings, timber flooring, a bay-windowed lounge and fireplace, are paired with split-system heating and cooling. Secure backyard, side driveway and single-car accommodation complete the package for first-home buyers, downsizers wanting CBD walkability, or those wanting a period home with room to update. The value of this house may be shaped most by the heritage overlay, which can limit external changes, a key renovation constraint. The kitchen and dining might be seen as functional, not finished, so update costs should be weighed against the character premium. Land size may support resale, but price could hinge on interior condition vs original detailing.
Detailed Independent Property Report prepared  by PropCred Analyst team for 322A Lyons Street S, Ballarat Central VIC 3350
Checks found:
Value Risk 2
Liquidity Risk ! 1
Planning Risk ! 1
Income Risk ! 1
Execution Risk ! 1
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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: 204 Lyons Street South sold $470,000; 202 Lyons Street South sold $1,100,000 | Property Price Band: $600K–$700K | Value Drivers: 523m² central land, heritage features, character presentation

Bedrooms

3

Bathroom

1

Parking

1

Land

533m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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