1860s Victorian sells for $1.1375 million two days after first open home in Ballarat
A red-brick 1860s Victorian in Ballarat East sold for $1.1375 million after renovation, more than tripling its $310,000 purchase price from 2015.
A striking red-brick Victorian restored with a bold modern extension sold in just two days after its first open house in Ballarat East. The property at 138 Eureka Street changed hands for $1.1375 million.
McGrath Real Estate agent Matt Skinner had 19 groups through the first showing on Saturday and a deal agreed within two days. The owners bought the house in 2015 for $310,000, renting it out for $320 a week in 2019 and 2020 while they organised their renovation.
In 2021 the City of Ballarat approved partial demolition and additions. The renovated home now has four bedrooms, two bathrooms and parking for four cars on a 541-square-metre block.
A professional couple from Melbourne bought it within two days of inspecting.
- $1.1375 million
- Sale price
- $310,000
- Purchase price 2015
- $320
- Weekly rent 2019-2020
- 19
- Groups at first open home
Why it mattersA well-executed renovation in a regional location can turn a modest investment into substantial profit when buyers are ready to pay premium prices for quality homes.
AustraliaShows that Ballarat property market remains stable and rewarding for renovators, unlike some overheated Australian markets; demonstrates regional real estate opportunity.
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