197 Bungower Road, Somerville VIC 3912
197 Bungower Road, Somerville VIC 3912
Large rural block | 4-bed renovated home | 12-car shed with workshop | Lifestyle acreage near town
This property stands out for its combination of a fully modernised four-bedroom home and a substantial high-clearance shed that can hold up to twelve vehicles, complete with a workshop, hoist, office, and kitchenette. On roughly 2.2 acres, it offers a rare balance of comfortable family living and serious utility space, which is uncommon in standard Somerville housing. The remote double garage with internal access and two water tanks add practical convenience. This suits buyers who need room for trades equipment, vehicles, or hobbies, while still wanting a polished, move-in-ready residence close to the Somerville township and main transport links.
The value here is driven largely by the land size and the quality of the outbuildings, which are not typical for the area. The renovation work appears thorough, but the original build age is unclear, so structural condition should be confirmed through inspection. The property’s semi-rural setting may involve higher maintenance and a reliance on vehicles, and some nearby parcels carry bushfire overlays, so checking the specific zoning and any environmental constraints is worthwhile. The shed’s capacity and the flexibility of tank or town water are strong selling points that could justify a premium over more conventional homes.
|| Comparable Sales: 46 Bungower Road sold at $1.39M; 158 Bungower Road sold on 1.25 acres | Property Price Band: $1.2M–$1.3M | Value Drivers: land size, shed/workshop quality, renovated condition
Detailed Independent Property Report prepared by PropCred Analyst team for 197 Bungower Road, Somerville VIC 3912
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Somerville, a growing semi-rural suburb 55km southeast of Melbourne, offers established shopping, schools and sporting facilities. Demand is being driven by owner-occupiers and investors attracted to relatively fast turnarounds: houses sell in a median 28 days, units in 14, with house rents up 8.3% year-on-year. The house median sits near $800,000 across recent sources; REIV records 2.3% quarterly growth, while annual estimates range from -6.0% to +5.64%. Units, pegged around $605,000, show similar data divergence, though view.com.au reports 12.1% annual growth. Gross yields are firm, at 3.9–4.3% on houses and 4.2–4.7% on units. The suburb’s semi-rural character, continued development and local infrastructure underpin future appeal.
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PropCred Estimated Value
Comparable Sales: 46 Bungower Road sold at $1.39M; 158 Bungower Road sold on 1.25 acres | Property Price Band: $1.2M–$1.3M | Value Drivers: land size, shed/workshop quality, renovated condition
Bedrooms
4
Bathroom
2
Parking
2
Land
2.19 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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