1702/462 Elizabeth Street, Melbourne VIC 3000
1702/462 Elizabeth Street, Melbourne VIC 3000
2 bed, 1 bath, 1 car in a 2017 tower | 65% owner-occupied building | CBD fringe with strong rental depth | flood overlay noted on record
This apartment sits in a modern, amenity-rich tower that stands apart from much of Melbourne’s older high-density stock. The 2-bedroom layout with parking is a practical configuration for the CBD fringe, and the building’s high owner-occupier share suggests a more stable resident community than typical investor-heavy towers. It serves best a professional buyer or downsizer wanting lock-and-leave convenience with genuine walkability to work, study, and city life. The stone and Miele finishes, floor-to-ceiling glazing, and full amenity package are competitive for the area, while the 2017 build means the property is still relatively young in maintenance terms.
The flood overlay flagged on the record may affect insurance costs and should be weighed carefully, though it is not uncommon in this part of the city. The single bathroom may limit appeal for some owner-occupiers, and tower living brings strata fees and embedded network charges that need to be factored into holding costs. Rental demand is supported by proximity to universities and transit, but the 1-car space and compact layout may cap upside for family buyers. The building’s reputation and the quality of the specific floorplan will matter more than suburb-wide trends when forming a price view.
|| Comparable Sales: 6702/462 Elizabeth Street sold May 2022 for $700,000; 1902/462 Elizabeth Street listed around $570k–$580k | Property Price Band: $600,000–$700,000 | Value Drivers: floor level and view, internal condition, parking and amenity access
Detailed Independent Property Report prepared by PropCred Analyst team for 1702/462 Elizabeth Street, Melbourne VIC 3000
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Melbourne 3000’s inner-city position, defined by strong walkability and established transport links to employment hubs, sustains broad demand from owner-occupiers, downsizers, investors, first home buyers, students, and returning professionals. This diverse pool is met with constrained supply, evidenced by a tight vacancy rate of 1.3% and robust sales activity up 9.8% year-on-year. House values sit at $977,579 with 5.5% annual growth, while units record $642,431 and 2.7% growth, the latter highlighting relative affordability amidst shifting buyer preference. Rental fundamentals diverge sharply: houses yield 1.84% with a $650 weekly median, units yield a strong 8.00% with $675 weekly rents, underscoring investor focus on higher-density stock. Future drivers remain supportive—population growth, urban renewal, and scarcity of quality stock—but risks are mounting. New listings, up 17.5–18%, are easing supply tightness, while rate hikes and affordability pressures are softening buyer sentiment. Victoria’s land tax regime is a further drag on investor activity.
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PropCred Estimated Value
Comparable Sales: 6702/462 Elizabeth Street sold May 2022 for $700,000; 1902/462 Elizabeth Street listed around $570k–$580k | Property Price Band: $600,000–$700,000 | Value Drivers: floor level and view, internal condition, parking and amenity access
Bedrooms
2
Bathroom
2
Parking
-
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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