Househunters from as far as Hong Kong and South Australia look set to compete with Melbourne buyers and “local doctors” for a spectacular Ballarat North home that’s just hit the market.
An infinity pool resembling a waterfall is a standout feature of the 223 Landsborough St property, which has a $1.5-$1.6 million price guide for its private sale campaign.
Harcourts Ballarat agent Christine Browning said the double-storey house was built seven years ago by the vendors, who’d constructed “quite a few luxury homes” over the years.
The residence is set on a leafy 2200sq m block offering views of Lake Wendouree.
Lavish features include a 4m-tall glass front door, double-glazed windows, a “chef’s dream” kitchen with three Miele ovens and a butler’s pantry, a dining space with room for 10 people, and a home theatre.
Four of the five bedrooms are king sized, including the main with walk-through wardrobe and double-vanity ensuite.
“Lot of things are oversized,” Ms Browning said.
“Even the size of land, you can’t normally get that so close to the CBD.”
She said the home’s easy access to the Melbourne highway made it ideal for commuter buyers from Victoria’s capital — but they might be up against Hong Kong-based Aussie expats also eyeing the property.
“We’ve had people from New York (looking at Ballarat homes), a Sydney buyer bought in Delacombe recently, and we get lots of people from Queensland,” the agent said.
“But maybe seven out of 10 of the buyers are from Melbourne. They used to come up on a Sunday, take a look and never buy. Now, they buy straight away because the market is quite hot.
”The secret is out.”
She said some Melbourne buyers could purchase in the affordable regional city without a mortgage, as even though property prices were rising “it’s not like it is in Melbourne, Sydney or Brisbane”.
The latest CoreLogic data shows the Ballarat council area’s median house price has risen 9.8 per cent annually and 24.8 per cent over the past three years to $387,000.
The local council also had a focus of preserving heritage homes, meaning the city offered plenty of period properties, and its shopping and food scene was on the rise.
And Ms Browning said the city had even more upside to look forward to, with the $100 million GovHub precinct that will house more than 1000 state government employees to be completed next year, and thousands of new homes in the pipeline in western suburb Lucas.