24 Hampshire Road, Forest Hill VIC 3131
24 Hampshire Road, Forest Hill VIC 3131
3 bed 1 bath house | 334 m² block | family-friendly Forest Hill | compact footprint | owner-occupier suburb
This property offers a genuine entry point into Forest Hill’s detached house market, where most comparable homes sit on considerably larger blocks. The 3-bedroom, single-bathroom layout suits first-home buyers, young families, or downsizers seeking single-level living without the upkeep of a bigger yard. Its modest land size keeps the price accessible relative to the suburb’s typical house stock, which is dominated by older, larger family homes. The property is positioned within a stable, owner-occupied neighbourhood with local primary and secondary schooling nearby, reinforcing its appeal to long-term residents rather than investors. For a buyer prioritising location and affordability over space, this house represents a practical, low-fuss option in an established residential setting.
The compact 334 m² land size may limit future extension or redevelopment potential compared to neighbouring properties, which often exceed 500 m². The single bathroom could be a constraint for growing families, and the absence of confirmed build year or interior condition means the property’s actual state could vary significantly. Buyers should weigh the lower entry price against potential renovation costs or the likelihood of needing to upgrade fixtures over time. The house’s value may also be influenced by how its presentation compares to recently updated homes in the street, as well as the balance between its modest footprint and the convenience of its location.
Detailed Independent Property Report prepared by PropCred Analyst team for 24 Hampshire Road, Forest Hill VIC 3131
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
Forest Hill, in Melbourne’s east, attracts families and professionals aged 35-54 through strong schools and under-30-minute CBD commutes via Blackburn and Nunawading stations. Owner-occupiers dominate demand, targeting 3-4 bedroom houses. House prices median $1.21m, with annual growth of 0.21-3.84%; units range $789k-$845.5k, growing -1.86% to 4.6%. Houses sell in 26-35 days, with around 135 annual sales. Rental yields are modest: houses 2.86%, units 3.7-4.08%. Auction clearance rates of 72-90% reflect competitive conditions. Future growth relies on infrastructure upgrades and constrained supply; high entry prices and rate sensitivity are key risks.
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PropCred Estimated Value
Comparable Sales: 21 Hampshire Road sold $1.485M (4 bed, 585 m²); 2 Maldon Terrace sold 2017 (3 bed, 234 m²) | Property Price Band: $800K–$900K | Value Drivers: Land size, condition, layout efficiency
Bedrooms
3
Bathroom
1
Parking
2
Land
334m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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