Cities of gold: Former gold rush towns in Ballarat, Bendigo regions home to area’s priciest streets – Beragampengetahuan

This house in Wendouree Pde, Lake Wendouree, is located in the wider Ballarat region’s priciest street. The house sold for $4,310,000 last year.

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Streets in towns formerly at the heart of Victoria’s circa-1850s gold rush are becoming treasure troves for homebuyers seeking a relaxed regional lifestyle.

Ray White analysis shows the most expensive streets within the Bendigo and Ballarat level four statistical regions are located in cities and towns including Bendigo, Kyneton and Ballarat North.

The statistical areas cover 11,841sq km of Bendigo and surrounds and 10,287sq km around Ballarat.

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In 1851, the state’s first officially recognised gold discovery occurred almost 40km north of Ballarat near Clunes – although indigenous Australians and settlers had previously found the precious metal.

It sparked the gold rush which resulted in an estimated 6000 migrants arriving in Victoria every week in the hopes of making their fortunes.

Areas including Ballarat, Bendigo, Daylesford, Castlemaine and Maryborough boomed between the 1850s and late 1860s.

Even today, the rich history of these areas remains a drawcard for new residents.

Ballarat was at the centre of the 1850s Victorian gold rush. Photo: Supplied.

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The Ray White data crunch of 2020-23 Valuer-General statistics, covering roads with a minimum of six sales across the time frame, revealed six of the Bendigo region’s 10 most expensive streets are located in Kyneton.

Wedge St topped the list with a $1,476,250 median house price, followed by Blackhill Rd on $1.45m and Bald Hill Rd at $1.3m.

Bendigo’s own View St and Wattle St came next with medians above $1.2m.

Two Woodend streets, Donalds Rd (on a $1,245,000 median) and Reidwell Drv ($1.1m) also made the top 10.

Located in Piper St, Kyneton, this house sold for $1.56m last year. The street is one of the Bendigo region’s most expensive to buy into.

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Ray White Kyneton’s director Nathanial Briggs said he was not surprised to see Kyneton and Woodend in demand.

“They are beautiful areas with good access to the Melbourne CBD, desirable character homes, restaurants, cafes and a thriving arts scene,” Mr Briggs said.

The surge in regional Victoria’s popularity which began during 2020-21Covid lockdowns had slowed but not stopped, he added.

“Some Melbourne buyers want a change in lifestyle and Kyneton has train access to the city with the journey taking about one hour and people may work one or two days in the office,” he said.

Streets including Bald Hill Rd and Blackhill Rd offer properties with “small acreages, significant homes, rolling hill and lovely views”, he continued.

At Covid’s peak, some properties in these streets sold for between $1.5m-$2.2m.

“That was very much Melbourne-based buyers wanting to get out of Melbourne and onto some land,” Mr Briggs said.

This Wattle St, Bendigo home fetched $1.1m in November 2023. The street is one of the Bendigo region’s priciest with a $1,275,000 median.

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More than 170 years ago, Kyneton was an important stop for miners and workers travelling from Melbourne to the gold fields.

Between the March and October 1852 censuses, the town grew from a population of 300 to 2000 people.

In 1858, Ballarat’s Red Hill Mine yielded a gold nugget weighing just under 69kg, which was the world’s largest gold nugget recorded at the time.

Ballarat earned the nickname “The Golden City” and its population peaked at almost 60,000 that same year.

Nowadays, Lake Wendouree is home to the region’s priciest street, Wendouree Pde with a $2.3m median house value.

Botanic Dr in Ballarat North was second on a $1,365,000 median and Blue Mount Rd, Trentham, next at $1.35m.

A four-bedroom house in Wendouree Pde, Lake Wendouree, which sold for $2,180,000 last year.

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Ballarat-based Caine Property’s Damian Caine said one of the main reasons for Wendouree Pde’s popularity is its location close to well-regarded schools including Ballarat Clarendon College, Loreto College, St Patrick’s College and Ballarat Grammar.

The lake itself and botanic gardens are also close to Wendouree Pde.

“It’s the centre of action and often wealthy individuals including doctors, lawyers and real estate agents own property there,” Mr Caine said.

Other local streets including Webster St, Victoria Ave and Frank St also tend to have high values and fast-rising prices, he added.

Ray White data analyst William Clark said buyers looking to gain a foothold in the market could target cheaper streets as an “entry strategy”.

According to PropTrack, Victoria’s median house price – outside of Greater Melbourne – stood at $588,000 in December 2023.

Bendigo region’s most expensive streets*

Wedge St, Kyneton — $1,476,250

Blackhill Rd, Kyneton — $1.45m

Bald Hill Rd, Kyneton — $1.3m

View St, Bendigo — $1,287,500

Wattle St, Bendigo — $1,275,000

Donalds Rd, Woodend — $1,245,000

Simpson St, Kyneton — $1,1685,00

Piper St, Kyneton — $1.14m

Bowen St, Kyneton — $1,135,000

Reidwell Drv, Woodend — $1.1m

Bendigo region’s most affordable streets*

Vernon St, Korong Vale — $110,000

Kelly St, Pyramid Hill — $190,000

Victoria St, Pyramid Hill — $190,000

Wilson St, Wedderburn — $200,000

Peppercorn Way, Serpentine — $205,000

Holloway St, Boort — $223,119

Sullivan St, Inglewood — $270,000

Armstrong St, Boort — $270,000

High St, Wedderburn — $270,000

Grant St, Inglewood — $310,000

Source: Ray White analysis of Valuer-General data, 2020-2023.

Captures streets with at least six sales in past three years.

*The data covers Bendigo’s level four statistical area spanning 11,841sq km.

This house at Wendouree Pde, Lake Wendouree, sold for $1.6m in 2023.

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Ballarat region’s most expensive streets*

Wendouree Pde, Lake Wendouree — $2.3m

Botanic Dr, Ballarat North — $1,365,000

Blue Mount Rd, Trentham — $1.35m

Cummins Rd, Mount Rowan — $1,165,000

King St, Daylesford — $1.15m

Grenville St, Daylesford — $1,117,000

Dana St, Ballarat Central — $1m

High St, Trentham — $997,500

Stanbridge St, Daylesford — $950,000

Raglan St, Daylesford — $937,500

Ballarat region’s most affordable streets*

Inkerman St, Dunolly — $240,000

High St, Maryborough — $281,000

Broadway, Dunolly — $295,500

Lawrence St, Beaufort — $300,000

Railway St, Maryborough — $310,000

Golden Wattle Dr, Maryborough — $310,000

Park Rd, Maryborough — $325,000

Gillies St, Maryborough — $325,000

Majorca Rd, Maryborough — $327,500

Derby Rd, Maryborough — $327,500

Source: Ray White analysis of Valuer-General data, 2020-2023.

Captures streets with at least six sales in past three years.

*The data covers the Ballarat level four statistical area spanning 10,287sq km.

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