27 West Cres, Lakes Entrance VIC 3909
27 West Cres, Lakes Entrance VIC 3909
3-bed lowset house | 668 m² block | steady rental demand | conventional family stock | no premium coastal edge
This is a straightforward, solidly built three-bedroom house on a moderate 668 m² block in a general residential part of Lakes Entrance. It sits comfortably within the standard detached housing stock of the town, offering a practical layout with one living area, built-in robes, air conditioning, and room for cars or a boat in the yard. The property is best suited to first-home buyers, retirees, or investors seeking reliable rental income rather than a high-end holiday retreat. Its positioning near the town centre adds everyday convenience, while the absence of flood, bushfire, or heritage overlays reduces hidden risk. The house presents as well maintained and functional, which makes it an easy entry point into the local market.
The main factors that might shape its value are the modest building size, the single bathroom, and the lack of standout features like water views or premium finishes. The property’s appeal is likely to be price-driven, meaning its condition and land size will matter more than any unique character. Rental estimates suggest steady demand, but the yield will depend on the final purchase price. Buyers should weigh the older structure’s upkeep against the benefit of a clean, low-maintenance block in a serviceable location. The mixed comparable sales in the area indicate that well-presented homes can attract solid interest, though larger or more improved properties will command noticeably more.
|| Comparable Sales: 27 Princes Hwy sold March 2024 for $355k; 273 Princes Hwy sold May 2023 for $400k | Property Price Band: $350k–$450k | Value Drivers: land size, single-storey condition, town proximity
Detailed Independent Property Report prepared by PropCred Analyst team for 27 West Cres, Lakes Entrance VIC 3909
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
Income Risk
Execution Risk
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Market Insight
Lakes Entrance, a coastal suburb with esplanade access, is a retirement-oriented market, with a predominantly older demographic, high outright ownership, and a majority of childless couples. Demand is driven by rental yields of 4.5–4.9% for houses and units, with 61–99 house sales annually. House prices are mixed: REIV shows $556,000 with 5.3% quarterly growth, while Propertyvalue.com.au shows $498,000 down 5.2% annually. Units are weaker, down 15–36.5% annually. Future growth hinges on coastal amenity and steady rental demand, but risks include mixed house price signals, unit price declines of 15–36.5%, slow turnover of 121–152 days, and a thin inventory of 13 properties.
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PropCred Estimated Value
Comparable Sales: 27 Princes Hwy sold March 2024 for $355k; 273 Princes Hwy sold May 2023 for $400k | Property Price Band: $350k–$450k | Value Drivers: land size, single-storey condition, town proximity
Bedrooms
3
Bathroom
2
Parking
2
Land
656m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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