963 Ferntree Gully Road, Wheelers Hill VIC 3150
963 Ferntree Gully Road, Wheelers Hill VIC 3150
Renovated double-storey | Two kitchens | 651m² elevated block | Dandenong views | Family-catchment demand
This house has been renovated to a standard rarely found in the established family segment of Wheelers Hill. Two kitchens, marble-look stone finishes, Miele and Fotile appliances, and an eight-star energy rating are all included. The elevated service-road position is preserved from direct arterial traffic while the terrace and upper level capture Dandenong Ranges views. Four-car extended driveway, double garage, and a flexible rear grassed yard are provided, which suits intergenerational households and families with multiple vehicles. Given strong school-catchment and private-school demand, the house is best suited to upsizing buyers who value move-in-ready condition over a prestige label.
Main-road exposure may be weighed against the service-road buffer. The 651m² allotment is seen as limiting redevelopment upside. The two-kitchen layout might be viewed as serving multi-generational households best, though the right buyer is unlikely to be deterred. Maintenance needs could be concealed by the renovation, and the outlook may be changed by nearby infill development.
Detailed Independent Property Report prepared by PropCred Analyst team for 963 Ferntree Gully Road, Wheelers Hill VIC 3150
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
2
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Market Insight
Wheelers Hill, 22km southeast of Melbourne, is a residential suburb where demand is concentrated in the housing sector. Houses transact at a median of roughly $1.52 million, having risen 8–10% annually, and sell within a median 28–35 days on market, supported by lifestyle amenity and proximity to key services. Annual house sales volumes of 250–268 indicate consistent turnover, but the unit segment is weak: median prices are around $930,000 with zero annual growth and just two sales in 12 months. Weekly house rents of $725 and gross house yields of 2.6% compare with unit rents of $655 and a 3.8% yield, though only two units sold in the year. Future growth will be underpinned by established housing demand and quick absorption, though affordability constraints persist: Wheelers Hill’s median house price sits 35.2% above neighbouring Mulgrave.
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PropCred Estimated Value
Comparable Sales: 975 Ferntree Gully Road sold at approximately $1.01M as a smaller 3-bed house | Property Price Band: $1.3M–$1.4M | Value Drivers: renovation condition, dual-kitchen layout, elevated outlook
Bedrooms
6
Bathroom
3
Parking
2
Land
651m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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