1013/101 Bay Street, Port Melbourne VIC 3207
1013/101 Bay Street, Port Melbourne VIC 3207
Top-floor 2/2/2 | water views | 2012 Little Projects build | rare twin car spaces | Bay Street lifestyle
A genuine rarity in Port Melbourne apartment stock is presented by this property: top-floor positioning, two bedrooms, two bathrooms and two side-by-side car spaces within a 2012 building with water views and a generous terrace. Owner-occupiers seeking lock-and-leave living are served well because private outdoor space and secure parking are combined without sacrificing amenity. A finish level above typical older walk-ups is provided by the building’s European appliances, stone benchtops, lift access, video intercom and on-site management, and the Bay Street retail strip, beach and tram access are placed within comfortable reach. Downsizers, professionals and investors wanting a low-maintenance property with strong rental appeal would be well served here.
The exact quality of the water view and terrace exposure may materially affect value, since top-floor orientation varies within the building. Two car spaces are recognised as a value driver, but they might narrow the buyer pool slightly for those who do not require parking. Rental demand is supported by lifestyle proximity, though the 261-apartment complex means comparable supply exists, so presentation and floor level should be weighed when a price view is formed. The opportunity to add storage may improve functionality without materially shifting value.
Detailed Independent Property Report prepared by PropCred Analyst team for 1013/101 Bay Street, Port Melbourne VIC 3207
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
Port Melbourne is an established bayside inner suburb with a mature demographic. Demand is supported by major infrastructure, including the $1 billion Station Pier redevelopment and mixed-use towers on Bay Street, while auctions clear at 67.86%. House prices span roughly $1.55 million to $1.84 million, with annual growth ranging from -6.2% to +5% across sources, and a recent quarterly gain of 3.15%. Units are softer at $685,000–$819,000, with declines of -2.8% to -4.8% annually. Homes trade in 26–48 days, units average 49 days, implying uneven absorption. Future growth hinges on the Station Pier completion and new supply, though unit price weakness and variable house price momentum point to buyer sensitivity and potential oversupply.
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PropCred Estimated Value
Comparable Sales: 113/101 Bay Street sold $540k in 2023 (2/1/1); 1012/101 Bay Street sold Dec 2022 as top-floor 1-bed with bay views. | Property Price Band: $650k–$750k | Value Drivers: top-floor water outlook, two side-by-side car spaces, terrace/layout.
Bedrooms
2
Bathroom
2
Parking
2
Land
1.09 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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