6 Honey Myrtle Rise, Eltham North VIC 3095
6 Honey Myrtle Rise, Eltham North VIC 3095
5-bed family house on 1,304 m² | pool and balcony | quiet court setting | sought-after school catchment | tightly held pocket
A rare combination is offered in Eltham North: a five-bedroom footprint, a large 1,304 m² block, and a pool in a quiet court position. The layout is built around family living, with open-plan dining, a gas log fire, and an expansive balcony designed for indoor-outdoor entertaining. Homes of this configuration are not commonly found in the immediate area, where much of the housing stock is smaller in both floor area and land. This addresses the needs of established families and those upsizing from townhouses or compact houses, especially buyers who want room to grow without leaving the local school catchment. The tightly held street profile suggests low turnover, which typically supports steadier value retention over time.
The price outcome may be influenced by the condition of the pool and the age of the kitchen and bathrooms, which are not confirmed. The property’s presentation and any updates since the 2019 sale might also shape buyer perception. Land size and court position are likely to anchor value, while the study and five-bedroom layout could appeal to a broader pool. Buyers should weigh deferred maintenance costs against the security of a large, well-zoned family house.
Detailed Independent Property Report prepared by PropCred Analyst team for 6 Honey Myrtle Rise, Eltham North VIC 3095
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
1
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Market Insight
Eltham North is a stable, low-turnover enclave of predominantly detached houses (98%) and a mature professional demographic (50–59 years). Demand is family-driven; 45% own outright and 50% hold mortgages. Median house price is $1,230,000, with quarterly growth of 0.58% and annual changes ranging from -1.6% to -2.8% (or +4.1% per Woodards). Conditions have cooled: house sales fell 41.6% year-on-year, days on market rose to 51, and auction clearance was 53.8%. Rental yield is thin at 2.96%. Future support comes from nearby Eltham’s faster selling (25–26 days) and the Nillumbik Secondary College catchment. Key risks: affordability, negative annual growth in several reports, and rate sensitivity.
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PropCred Estimated Value
Comparable Sales: 6 Honey Myrtle Rise sold $1.346M in 2019; 153A Ryans Road sold $625K in 2021 as a land parcel with permits | Property Price Band: $1.6M–$1.7M | Value Drivers: land size, court location, five-bedroom layout with pool
Bedrooms
5
Bathroom
3
Parking
2
Land
1304m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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