1/43 Pembroke Road, Ocean Grove VIC 3226
1/43 Pembroke Road, Ocean Grove VIC 3226
Beachside suburb depth | Detached house on family-sized block | Strong rental demand | School catchment appeal | Mid-sized lot with room to improve
This property sits within an established residential pocket of Ocean Grove where detached housing on family-sized lots remains the dominant character. The configuration suits buyers seeking a solid entry into a proven beachside market, particularly owner-occupiers wanting proximity to schools and daily amenities. The street itself carries a settled neighbourhood feel, and the house presents a workable footprint that could accommodate a growing household without immediate renovation pressure. For investors, the rental profile is supported by consistent tenant demand across the suburb, making this a practical option for those prioritising yield over speculative growth.
Value may be shaped by the condition of the internal finishes and the extent of any updates completed in recent years. The land dimensions and orientation could influence how much future improvement is possible, which matters if you intend to extend or reconfigure. Market activity in the immediate area suggests steady buyer interest, though the final price might hinge on how the property presents against similar offerings in the same street. A buyer should weigh the balance between move-in readiness and the potential to add value through targeted upgrades.
|| Comparable Sales: 1/40 Pembroke Road sold at $770,000 | Property Price Band: $700,000–$800,000 | Value Drivers: lot size, internal condition, street location
Detailed Independent Property Report prepared by PropCred Analyst team for 1/43 Pembroke Road, Ocean Grove VIC 3226
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
1
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Market Insight
Ocean Grove, the Bellarine Peninsula’s largest town east of the Barwon River mouth, is a mature, mostly owner-occupied market: 78.5% of homes are held by owners, and the dominant cohort is childless couples aged 60–69 carrying mortgages of $1,800–$2,399 monthly. That demographic anchors demand for low-maintenance, well-located housing. House prices have softened over the past year, with medians ranging from $925,000 to $950,000 and annual declines between 2.1% and 5.0% depending on the series. Units have moved counter-cyclically, rising 2.7% to 5.9% to a median near $770,000–$789,000. Houses sit on the market for a median 60 days, with annual sales volume between roughly 357 and 395. Rental returns remain modest: house yields around 3.11% with median weekly rent of $600; units yield 3.26%–3.8% on rents of $523–$530. Future growth hinges on the town’s coastal amenity and existing infrastructure, but affordability constraints, a soft house segment, and rate-sensitive mortgage holders temper upside.
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PropCred Estimated Value
Comparable Sales: 1/40 Pembroke Road sold at $770,000 | Property Price Band: $700,000–$800,000 | Value Drivers: lot size, internal condition, street location
Bedrooms
3
Bathroom
1
Parking
-
Land
635m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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