294 George Street, Fitzroy VIC 3065
294 George Street, Fitzroy VIC 3065
Victorian terrace | ROW access | heritage streetscape | family-held since 1958 | Fitzroy lifestyle strip
A genuinely rare offering is found in this Victorian terrace, retained within a heritage streetscape and preserving original period character while immediately liveable. Rear-of-block access is provided via right-of-way, adding practical flexibility many comparable terraces lack, whether for parking, a studio, or rear-yard use. The position between Brunswick Street and Smith Street places it at the centre of the inner-north lifestyle precinct, where walkability and CBD proximity drive buyer demand. This property is best suited to owner-occupiers seeking a character home with strong land value, as the value is held in the land and period fabric rather than building amenities.
The property’s value may be most influenced by land size and the condition of rear structures, neither fully assessable without inspection. Heritage overlay controls might limit external changes, and the long family ownership since 1958 suggests the interiors may have been updated incrementally, a potential discount or capital outlay. The ROW access may also be valued differently by buyers.
Detailed Independent Property Report prepared by PropCred Analyst team for 294 George Street, Fitzroy VIC 3065
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
URL has been copied successfully!
Market Insight
Fitzroy in inner Melbourne remains a lifestyle-led market anchored by CBD proximity, trams, and cultural appeal. Young professionals aged 20-39 dominate, with 77.4% singles and 60.7% renters, while investors target above-average yields. House prices fell sharply to $1.5m–1.6m, down 8.6–13.6% annually, with stock moving in 33–46 days. Units held firmer at $773k–777k, showing growth between -2.2% and +4.0%. Gross yields are 3.1% for houses and 4.4–4.7% for units. Demand is supported by strong transport links, respected schools, and a vibrant rental market, but high entry prices and interest-rate sensitivity pose constraints.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 401/341 George Street sold $1.97M in 2022; 301/341 George Street sold $800K | Property Price Band: $1.8M–$1.9M | Value Drivers: period character, land size, ROW flexibility, heritage streetscape position
Bedrooms
3
Bathroom
1
Parking
-
Land
128m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!