18/32 Queens Road, Melbourne VIC 3004
18/32 Queens Road, Melbourne VIC 3004
2-bed period apartment | garden-setting block | parkland fringe | heritage character | unverified outlook
This two-bedroom unit is situated in an established Queens Road complex with a garden-setting feel. Period architecture and heritage character are valued by buyers seeking an alternative to standard new apartments. The location near Albert Park Lake and tram routes is considered a strong lifestyle advantage. The standard 2/1/1 layout is well matched to demand in the building, where a stable ownership pattern is observed. The property is best suited to owner-occupiers and downsizers who appreciate older-style room proportions and a low-rise, tree-lined environment. Compared with high-density towers, a more boutique and character-driven living experience is offered by this unit.
Value might be affected by the unverified aspect and floor level, as outlook varies across the building. The period construction may entail maintenance considerations, and heritage overlays in the corridor could limit future changes. A flood overlay in the locality may be relevant to insurance and title review. These factors should be weighed when a price view is formed.
Detailed Independent Property Report prepared by PropCred Analyst team for 18/32 Queens Road, Melbourne VIC 3004
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
Melbourne’s 3004 covers the CBD and inner city, a high-density unit and apartment market. Demand comes from upgrading professionals, first-home buyers, and returning international students, drawn by proximity to jobs, transport, and education. House median is $1,015,000, up 5.5% annually; unit median $642,431, up 2.7%. House sales are 17.8% above the five-year average, clearance rates 67% in October 2025, with a 1.4% vacancy rate and listed stock 21% below five-year norms. Growth is supported by easing rates, better affordability than Sydney, and positive interstate migration. Risks: stretched affordability, listings up 30% month-on-month and 18% year-on-year in October, and new listings 17.5% above last year, pointing to price moderation despite constrained supply.
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PropCred Estimated Value
Comparable Sales: 22/32 Queens Road sold for $510,000; 40/32 Queens Road sold for $645,000 | Property Price Band: $500K–$600K | Value Drivers: heritage character, layout, aspect
Bedrooms
2
Bathroom
1
Parking
1
Land
1.15 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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