123 Neale Road, Deer Park VIC 3023
123 Neale Road, Deer Park VIC 3023
3-bed family house | established Neale Road pocket | strong school catchment | solid suburban demand
This is a straightforward family house in a settled Deer Park street, and that is its quiet strength. The configuration—three bedrooms, two bathrooms, and double parking—puts it squarely in the most sought-after bracket for local buyers, particularly first-home families and young owner-occupiers. Being inside the Victoria University Secondary College zone adds a practical layer of appeal that tends to hold buyer interest steady. The street itself is established, with mature housing stock and a functional, family-oriented character rather than anything flashy. For a buyer wanting a usable, conventional home in a proven suburban location, this property sits comfortably in the mainstream of what Deer Park consistently absorbs.
What may shape the final price is the property’s condition and internal presentation, since the surrounding stock varies noticeably in how well it has been maintained or updated. The land size and whether the house is single-level or double-storey could also influence how it compares to similar options. Buyers should weigh the likelihood of older fixtures or finishes, which might require some budget for refreshment, against the benefit of a location that already delivers on schools, transport, and everyday amenities. The value here is likely to hinge on how much of the original fabric remains and how easily a new owner could make it their own.
|| Comparable Sales: 97 Neale Road sold $645,000 in June 2024; 170 Neale Road listed around $700,000–$750,000 | Property Price Band: $600K–$700K | Value Drivers: condition and updates, land size, school catchment
Detailed Independent Property Report prepared by PropCred Analyst team for 123 Neale Road, Deer Park VIC 3023
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
2
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Market Insight
This suburb moves faster than St Albans, with houses selling 46.5% quicker and units 44.7% quicker. Demand is led by families—couples with children dominate households, and owner-occupation sits high at 66.5%. Median house prices range $695,000–$729,000 across sources, running 6.0%–6.9% annual growth (13.5% over five years). Units sit at $515,000–$550,000, up 5.4%–5.9% yearly, though the latest quarterly change slipped to -0.5%. House days on market vary 23–69; gross rental yield for houses is around 4.1%–4.4%. However, momentum is cooling: house sales volume fell 20.8% year-on-year, days on market rose 60.5%, and unit auction clearance dropped 50.0%. Further growth depends on whether family buyer demand holds as supply and affordability pressures build; the key constraint is the recent loss of sales velocity and clearance strength.
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PropCred Estimated Value
Comparable Sales: 97 Neale Road sold $645,000 in June 2024; 170 Neale Road listed around $700,000–$750,000 | Property Price Band: $600K–$700K | Value Drivers: condition and updates, land size, school catchment
Bedrooms
3
Bathroom
2
Parking
2
Land
536m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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