118 Wooralla Drive, Mount Eliza VIC 3930
118 Wooralla Drive, Mount Eliza VIC 3930
Large Wooralla block | family-focused prestige pocket | school and beach proximity | renovation or rebuild potential | tightly held street
The property sits in one of Mount Eliza’s more established and private pockets, where large allotments and tree-lined settings are the norm rather than the exception. The configuration here is well suited to a family seeking space, with the land component carrying significant weight in the price. It competes directly with other premium family homes in the area, and the buyer it serves best is an owner-occupier looking for a long-term home with room to renovate, extend, or rebuild. The street’s mix of older homes and newer estate lots means the immediate character is settled but not uniform, which supports steady demand from families who value both privacy and proximity to the village, beaches, and schools.
Value may be influenced by the condition of the existing dwelling, as the property’s appeal could rest more on its land and position than on the house itself. The presence of views, elevation, or reserve adjacency might add a premium, while a dated interior could limit upside until renovated. Buyers should weigh the cost of updating against the strength of the location, and consider how the block’s shape and orientation affect usable outdoor space. Market conditions in this segment tend to favour quality over quantity, so presentation and potential will matter more than raw size alone.
|| Comparable Sales: 111 Wooralla Drive sold $2.02M in 2022, 148 Wooralla Drive marketed as premium family home | Property Price Band: $1.8M–$1.9M | Value Drivers: land size, renovation potential, street prestige
Detailed Independent Property Report prepared by PropCred Analyst team for 118 Wooralla Drive, Mount Eliza VIC 3930
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Mount Eliza is an affluent coastal suburb positioned as a premium family enclave, with demand driven by owner-occupiers seeking larger homes and the coastal lifestyle. Recent price trends for houses show stability, though the market exhibits some variability in sales volume and days on market, indicating a degree of rate sensitivity. Future growth is underpinned by its established desirability and quality schooling, yet high entry prices present a key constraint on affordability and accessibility.
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PropCred Estimated Value
Comparable Sales: 111 Wooralla Drive sold $2.02M in 2022, 148 Wooralla Drive marketed as premium family home | Property Price Band: $1.8M–$1.9M | Value Drivers: land size, renovation potential, street prestige
Bedrooms
3
Bathroom
2
Parking
-
Land
1517m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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