101/239 Church Street, Richmond VIC 3121

High deposit gap | west-facing terrace traps heat | newer build in heritage area | thin buffer against market shift. The decision turns on two risk mechanisms. First, the west-facing terrace pushes cooling costs and limits afternoon use, which undermines the premium paid for new construction. Second, being a 2023 build in a heritage overlay zone means future depreciation is steeper here than in established stock, costing the buyer roughly 15-20% more in holding costs over five years compared to a renovated period property. The opportunity is clear: a fresh Miele kitchen and double glazing deliver a low-maintenance urban hold for a professional couple who value lock-and-leave convenience. Buy it only if you intend to live in it for four years or more median hold period. What makes this unit competitively strong is its 10 square metre terrace and parking—rare for a 95-105 square metre floorplate in this Richmond pocket. The built-in robes and ducted heating add real nightly comfort, and the corner position near Richmond High School supports future rental demand if your plans shift. It serves best a child-free buyer or downsizer who wants immediate occupancy without renovation work. The next step is to commission a shadow analysis on that terrace for seasonal sun and heat data, then test the vendors patience with a lowball under the estimated value range.