Wendouree is a very good place to live, it literally has everything it has the brand new Stockland Wendouree Shopping Centre it has plenty of schools it has the beautiful botanical gardens and the swimming pool is great and it's right near the amazing Lake Wendouree.
Anywhere in central is good. Generally 3 blocks from Sturt is the way to go. Be quick though... with all the new public sector jobs coming to Ballarat the property market is sure to heat up. Good luck!