18 Ashbourne Street, Herne Hill VIC 3218
18 Ashbourne Street, Herne Hill VIC 3218
| 696sqm block | 4-car capacity | original 1970s shell | quiet pocket | no overlays |
This property offers a rare combination of scale and flexibility. The 696sqm block with 33% building coverage leaves substantial room for extension, subdivision potential, or simply holding land in a tightening market. Four car spaces and a single-level 1970s shell make it immediately functional while offering a blank canvas for value-add renovation. The absence of heritage, flood, or bushfire overlays removes the most common approval friction points. This suits buyers who want land banking optionality with immediate rental income, or renovators seeking a clean entry point in an owner-occupied suburb where 61% of residents hold long term.
The principal risk is the wide valuation gap between the recent $705,000 sale and aspirational $1.45M+ listings-this suggests either a wholesaler flip or unrealistic vendor expectation, not market reality. Buyers should verify title encumbrances and any recent DA activity before offering. The opportunity lies in the land-to-building ratio: a modest renovation could lift value toward the $900k–$1M range without overcapitalising, while holding for subdivision may yield greater returns in a 5–7 year window. Buy this for the dirt, not the dwelling, and treat the house as a bonus.
Detailed Independent Property Report prepared by PropCred Analyst team for 18 Ashbourne Street, Herne Hill VIC 3218
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Herne Hill presents a compelling opportunity on the Bellarine Peninsula, characterised by robust and accelerating price growth, particularly within its unit market. Demand is strong, evidenced by high sales volumes and rapid turnover for houses, indicating active buyer competition. This dynamic market is supported by solid rental yields, appealing to investors. Future growth is underpinned by this sustained demand, though the market’s sensitivity is noted in its historical volatility, and current low listing volumes suggest constrained supply which could intensify competition.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
4
Land
696m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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