272 Drake Street, Morley WA 6062
272 Drake Street, Morley WA 6062
Newly built 3-unit site | compact lots, modern finishes | strong retail proximity | suits families, downsizers, investors | infill density trade-off
This is a brand-new multi-dwelling site rather than a single older house, which gives it a clear edge over much of Morley’s ageing detached stock. The three ground-oriented townhouses offer contemporary finishes throughout—stone benchtops, gas cooktops, floor-to-ceiling bathroom tiling, and private fenced courtyards—so there’s little to spend after settlement. With configurations ranging from 3x2x2 to 4x2x2, the layout flexibility is genuine: families get functional space, downsizers get low-maintenance living, and investors get modern stock near Coventry Village, Galleria, and major road links. The 1012 m² parent site suggests a deliberate infill redevelopment, which means the property sits in a corridor that’s gradually densifying rather than standing out as an anomaly. For a buyer wanting new construction without apartment living, this is a practical, well-positioned option.
The main value consideration is the compact land allocation—each unit sits on roughly 190–270 m², which is smaller than traditional Morley house lots. That may cap long-term land-banking upside compared to older homes on larger parcels. The site’s density also means less privacy and outdoor space than a standalone house, though the fenced courtyards mitigate that somewhat. Surrounding stock is mixed, with older villas and newer infill side by side, so street character is still settling. Price will likely hinge on how buyers weigh new finishes against land share, and whether the 4-bed unit’s larger footprint commands a premium over the 3-bed variants.
|| Comparable Sales: 293 Drake Street sold Feb 2025 for $1.1M–$1.2M; 257 Drake Street estimated around $1.1M | Property Price Band: $1.0M–$1.2M | Value Drivers: new condition, unit configuration, proximity to retail and schools
Detailed Independent Property Report prepared by PropCred Analyst team for 272 Drake Street, Morley WA 6062
Checks found:
Value Risk
Liquidity Risk
Planning Risk
1
Income Risk
Execution Risk
URL has been copied successfully!
Market Insight
Morley, in Perth’s north-east, is a well-connected market with active demand. A significant share of residents are buyers, and a notable cohort is aged over 55. House prices have climbed 10.9–18.8% annually to a median of $845,000–$882,000; units rose 17.5–23.4% to $608,000–$617,000. Houses sell in 11 days on average, with 412 sales indicating tight conditions. Quick turnover and double-digit unit growth point to sustained interest, though affordability is constrained by incomes below the Greater Perth average and just 22 properties listed for sale last month. Rate rises are a significant risk, with a high rate of mortgage ownership.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 293 Drake Street sold Feb 2025 for $1.1M–$1.2M; 257 Drake Street estimated around $1.1M | Property Price Band: $1.0M–$1.2M | Value Drivers: new condition, unit configuration, proximity to retail and schools
Bedrooms
4
Bathroom
2
Parking
2
Land
1012m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!