23 Folkestone Road, Glen Waverley VIC 3150
23 Folkestone Road, Glen Waverley VIC 3150
New-build luxury on a prime Glen Waverley lot | Full 2024 construction with no heritage or flood risk | Five bedrooms, five bathrooms across 580sqm | Strong comparables support a $4M+ position.
This is a rare configuration for Glen Waverley: a brand-new, five-bedroom, five-bathroom house on a 747sqm lot with 78% building coverage, meaning the floor plan is generous without sacrificing outdoor space. The absence of bushfire, flood, or heritage overlays removes common due diligence delays, and the 9m roof height and 121m elevation suggest good natural light and drainage. The property suits a family seeking a turnkey residence in a school catchment zone, or a buyer who values low-maintenance luxury without renovation risk. The May 2025 sale at $3.97M, followed by active relisting, indicates the seller is testing the market at or above that level, and the current estimate range of $3.82M to $4.66M gives a buyer room to negotiate below the upper bound.
The key risk is that this is a recently flipped new build, which may carry minor construction settling issues or a premium that has not yet been tested by a full market cycle. The limited rental history and lack of yield data mean an investor should model conservatively. The opportunity lies in the property’s positioning: it is competitively priced relative to other new luxury builds in the area, and the lack of overlays makes it straightforward to hold or resell. Hold this property for at least five years to capture Glen Waverley’s steady capital growth, or use it as a high-end family home with no immediate upgrade required.
Detailed Independent Property Report prepared by PropCred Analyst team for 23 Folkestone Road, Glen Waverley VIC 3150
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
1
Income Risk
Execution Risk
2
URL has been copied successfully!
Market Insight
Glen Waverley is a premium, family-centric suburb anchored by its highly regarded school catchments, which are a primary driver of demand from owner-occupiers. This has supported consistent price growth for houses, though the market shows some sensitivity to broader economic conditions. Future demand is underpinned by these established educational amenities and strong community infrastructure, yet significant entry prices present a notable affordability constraint for new buyers.
URL has been copied successfully!
PropCred Estimated Value
Bedrooms
5
Bathroom
5
Parking
2
Land
747m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!