18A Lockhart Street, Caulfield VIC 3162
18A Lockhart Street, Caulfield VIC 3162
Detached house on 669m² | Rare large Caulfield block | Strong family demand | Sold 2022 at $1.34M | Rebuild or renovate potential
This property holds a genuine competitive edge through its substantial 669m² allotment, a size that stands apart from the compact infill stock common across much of Caulfield. The land component is the primary driver of value here, offering rare flexibility for a family seeking an established home with future extension potential or a buyer eyeing a high-end rebuild in a tightly held street. The 2022 sale at $1.34M reflects solid market grounding, and the surrounding pocket is characterised by detached family housing, tree-lined streets, and proximity to schools and retail, which sustains consistent owner-occupier demand. It serves best a buyer prioritising land size and location over turnkey condition, where the existing dwelling may be secondary to the site’s possibilities.
The current building configuration remains an open question, and its condition, layout, and internal amenity may significantly shape the final price. If the house is dated or requires substantial updating, value leans heavily toward land content; if it offers liveable comfort, a premium over the land base is justified. The 669m² size may also attract redevelopment interest, though council planning controls could influence that potential. Buyers should weigh renovation costs against the strength of comparable sales in the street, where larger-lot homes command considerably higher figures.
Detailed Independent Property Report prepared by PropCred Analyst team for 18A Lockhart Street, Caulfield VIC 3162
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
1
Execution Risk
1
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Market Insight
Caulfield, 10km southeast of the CBD, remains a high-income family suburb where a median age of 44 and 48% mortgage ownership indicate established, rate-sensitive demand. Quality schools, tram and train connectivity, and historic housing stock attract buyers, but the price data reveal a fragmented market. Median house prices span $1.6m-$2.0m depending on source, with annual growth ranging from +8.6% to -23.2%—a volatility pointing to affordability limits and sharp rate sensitivity. Units are similarly broad, with medians from $667k to $919k; gross rental yields sit around 3.3-4.3%. House rents of $950-$1,037 weekly and unit rents of $590-$685, with days on market of 40-57 and low annual sales (50-123), suggest thin but stable turnover. Future gains depend on continued demand for its schooling and transport corridors; the dominant risk is that high mortgage exposure and stretched prices trigger further correction.
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PropCred Estimated Value
Comparable Sales: 12 Lockhart Street sold around $3.9M–$4.25M guide; 2A Lockhart Street estimated near $1.29M | Property Price Band: $1.3M–$1.4M | Value Drivers: land size, dwelling condition, redevelopment potential
Bedrooms
2
Bathroom
2
Parking
4
Land
335m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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