24 Oakrind Rise, Officer VIC 3809
24 Oakrind Rise, Officer VIC 3809
Newer estate setting | family-oriented demand | school-zoned | spacious lot potential | bushfire overlay check
This property is situated in a newer residential estate where detached houses dominate and lot sizes range from standard suburban blocks to considerably larger parcels. The street is not uniform, which is beneficial to the buyer. A well-configured house here is likely to be sought after by first-home buyers and young families, who make up the largest buyer groups in this part of Officer. School zoning for primary and secondary levels is considered a genuine advantage for that audience, and FTTP broadband with 5G coverage is provided in the immediate area. The property is well positioned against newer stock in the surrounding growth areas, and the spacious lot character, where applicable, is what sets it apart from conventional new-estate blocks.
The bushfire overlay that has been detected on nearby lots may affect insurance costs and should be confirmed for this property. Market conditions also deserve attention. Houses in the suburb are being marketed for extended periods and supply is elevated, so realistic price expectations and strong presentation may be required more here than in tighter markets. Lot size and the quality of the built form are likely to have the greatest influence on value, along with how the property is compared with others on the street that sit on much larger parcels.
Detailed Independent Property Report prepared by PropCred Analyst team for 24 Oakrind Rise, Officer VIC 3809
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
1
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Market Insight
Officer is an established outer-suburban market where the median house is $750,000, having risen 5.3% in a year, though this pace sits about 28% below the Melbourne average. Units are softer at $537,500, with values down 2.68%. Houses take roughly 27 days to sell, indicating moderate turnover. Demand is driven by professional couples with children and high mortgage exposure—about 80% of owners hold a mortgage—plus investors attracted to affordable entry points and a 12.3% surge in house rents. Rental yields are steady at 3.89% for houses and a stronger 4.95% for units. The key constraint is price growth underperformance relative to the broader market; tight rental conditions offer a buffer, but unit price weakness signals patchy demand.
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PropCred Estimated Value
Comparable Sales: 18 Oakrind Rise, 5-bed 3-bath, $1.47M | Property Price Band: $1.3M–$1.4M | Value Drivers: land size, house condition, layout
Bedrooms
4
Bathroom
2
Parking
2
Land
600m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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