3/37 Springfield Road, Boronia VIC 3155
3/37 Springfield Road, Boronia VIC 3155
Large 542 m² townhouse | 3 beds 2 baths 1 car | stable owner-occupier pocket | school-zoned Boronia | bushfire and flood overlays
A generous 542 m² parcel is held by this townhouse, a rarity for its format and one that is associated with detached houses. The three-bedroom, two-bathroom configuration is suited to small families or downsizers. A stable owner-occupied enclave is indicated by an average holding period of twelve years and five months, which is suggestive of careful maintenance and limited turnover. School zoning for Wattle View Primary and Fairhills High is attached, reinforcing the appeal for education-focused buyers. An estimated rent of $600 per week is supported by consistent demand. The property is best used as a long-term home for a young family or a downsizer prioritising space and low-maintenance living.
Value may be influenced by the bushfire and flood overlays, by which insurance costs could be raised and the buyer pool narrowed, though the residential zoning and lack of a heritage overlay are expected to limit planning constraints. The generous land area might be utilised for future extensions, but redevelopment potential is likely to be capped by the townhouse format. Internal condition and presentation are expected to be the deciding factors, as little room for structural change is left by the fixed layout. A lower entry price could be achieved by a buyer willing to address minor upgrades, while a premium may be commanded by a polished interior.
Detailed Independent Property Report prepared by PropCred Analyst team for 3/37 Springfield Road, Boronia VIC 3155
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Boronia, outer eastern Melbourne’s sub-regional retail hub with ~40,000 sqm of space, draws families and singles, with owners outnumbering renters. House medians sit near $880,000, up 3.8–6.0% annually; units at $686,500, up 5.4–7.3%. Conditions are firm; houses sell in 21 days, auction clearances hit 74.0% for houses and 84.4% for units. Sales volumes remain solid—273 houses, 246 units—while gross yields range 3.6–3.9% for houses and 4.2–4.4% for units. Growth rests on the retail centre and local connectivity; constraints include household income 14.8% below Greater Melbourne’s average and fluctuating annual sales, indicating affordability pressures and rate sensitivity.
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PropCred Estimated Value
Comparable Sales: 3/37 Springfield Rd sold $480k in 2013; 5/37 Springfield Rd sold $600k in 2012 | Property Price Band: $700k–$800k | Value Drivers: land size, bathrooms, stable enclave
Bedrooms
3
Bathroom
2
Parking
1
Land
542m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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