375 Rae Street, Fitzroy North VIC 3068
375 Rae Street, Fitzroy North VIC 3068
3-bed townhouse | architect-designed | heritage overlay | treetop suite | lane access with parking
This three-bedroom, two-bathroom townhouse is placed on a 134 m² lot with secure parking and a heritage streetscape, a rare combination in Fitzroy North. The architectural design is set apart from both period terraces and standard apartments: downstairs living is opened to a walled rear yard, while the treetop principal suite is positioned upstairs. North light and a lightwell courtyard are used to deliver a quality more common in new inner-city builds than converted stock. It is best suited to owner-occupiers: professionals, young families, or downsizers wanting village character, school catchment, and Edinburgh Gardens without taking on a period renovation. Lane access and parking are provided, making it practical daily.
Value may be shaped by the heritage overlay, which could limit external alteration or redevelopment for those wanting to extend. The modest 134 m² land component might also temper capital growth relative to larger allotments in the suburb, though the built form already delivers substantial amenity. Price perception could be influenced by how the treetop suite and courtyard compare to other premium townhouses in the inner north, and by demand from buyers seeking a lock-and-leave property with school access. These factors might be weighed when forming a view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 375 Rae Street, Fitzroy North VIC 3068
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Fitzroy North remains an inner-north prestige market, with a median house price of $1,800,000 and a 10.4% quarterly lift. Annual house growth is contested across sources, ranging from 1.6% to 14.1%, while units show a 6.2% quarterly rise but annual growth swings from -7.6% to +6.3%. Demand is led by higher-income 30-39 year olds, reflecting the suburb’s largest demographic cohort. Houses sell in 24-40 days, and rental yields sit at 2.6-2.9% for houses and 4.5-5.0% for units, with weekly rents around $850-875 and $650 respectively. Sales volume is thin at roughly 150 house transactions annually. The elevated median price and mixed annual returns signal affordability constraints, while the positive quarterly momentum suggests continued buyer competition.
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PropCred Estimated Value
Comparable Sales: 13/529 Rae Street (2-bed apartment) sold $885k | Property Price Band: $1.8M-$1.9M | Value Drivers: architectural quality, heritage context, parking and gardens
Bedrooms
3
Bathroom
2
Parking
1
Land
134m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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