{"id":65298,"date":"2019-11-14T05:59:21","date_gmt":"2019-11-13T18:59:21","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/goldenplains\/?p=65298"},"modified":"2019-11-13T19:18:38","modified_gmt":"2019-11-13T08:18:38","slug":"how-much-does-it-really-cost-to-live-near-sturt-street","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/goldenplains\/real-estate\/how-much-does-it-really-cost-to-live-near-sturt-street\/","title":{"rendered":"How much does it really cost to live near Sturt Street?"},"content":{"rendered":"
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Peter Murphy is a Director of Preston Rowe Paterson Ballarat and is a Certified Practising Valuer and Associate of the Australian Property Institute.<\/figcaption><\/figure>\n

BY PETER MURPHY FROM PRP BALLARAT<\/strong><\/p>\n

Walking through the residential streets of Ballarat Central<\/a> provides a refreshing experience. <\/strong><\/p>\n

THERE are picturesque tree lined streets, historic bluestone stormwater channels and of course, many beautiful period houses. These are characteristics you can\u2019t recreate, and you won\u2019t see in any new estates.<\/p>\n

Ballarat Central provides many different housing styles and the quality of housing can vary significantly \u2013 from unrenovated early 20th Century cottages to re-built architecturally designed accommodation, with the later generally retaining the original fa\u00e7ade (in keeping with heritage requirements).<\/p>\n

However, one thing does remain consistent – the closer you get to Sturt Street, the more expensive the house becomes. So, how much does it really cost to live close to Sturt Street?<\/p>\n

To find some answers, we have taken a look at the median house price for each of the major blocks extending south from Sturt Street. These have been grouped into the \u20180\u2019s block\u2019, \u2018100\u2019s block\u2019, \u2018200\u2019s block\u201d, etc. in keeping with the postal addresses of the southbound streets. We have also extended our investigation area to include the 500\u2019s, 600\u2019s and 700\u2019s blocks, which are located in the suburb of Redan. In real terms, each block represents a further 220 metres walk from Sturt Street.<\/p>\n

To provide a more accurate snapshot, we have utilised sales data from 2016 to present. Due to the lower volume of sales and the geographic similarity, we have also combined the sales within the 600\u2019s & 700\u2019s blocks – both being south of La Trobe Street.<\/p>\n

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PRP has looked at a block-by-block propery value increase to the south of Sturt Street.<\/figcaption><\/figure>\n

In viewing the data, it is clear that there is a strong correlation of proximity to Sturt Street and the value of a house \u2013 the further south you walk, the more affordable the house becomes. The graph show on the previous page sets out the median house price of each block \u2013 we have utilised both a longer-term trend (all sales from 2016 to current), as well as the more recent trend (sales from 2018 and 2019 only):<\/p>\n

Some key trends from the graph include:<\/p>\n