18 Gleneagles Drive, Melton West VIC 3337
18 Gleneagles Drive, Melton West VIC 3337
Double-storey family scale | 876m² in Westlake | Five-bedroom flexibility | 1990s-built with rumpus | Family-priced pocket
Offered as a larger-than-typical family house, the double-storey layout includes two living areas and a rumpus room. This configuration is uncommon in newer estates. Located in the Westlake pocket near a lake, parks, and trails, the property sits on a generous 876m² parcel that allows for shedding, entertaining, or extension. It is best suited to families needing multiple zones, or those prioritising space over city proximity. The 1990s construction is solid, with good bones that appeal to buyers wanting established character.
Value may be influenced by finish condition, as refreshment of the 1990s shell might be required, while street appeal could be affected by orientation and frontage. The maintenance burden of the large block might be weighed against extension potential. Land size is the primary driver, with flexibility for families. Market timing may shape the final price.
Detailed Independent Property Report prepared by PropCred Analyst team for 18 Gleneagles Drive, Melton West VIC 3337
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
Execution Risk
URL has been copied successfully!
Market Insight
Melton West is a value-priced outer-suburban market with a clear houses-versus-units divergence. House medians ranged from $521,000 to $643,000 across sources, with annual growth between 11.6% and 13.8%, indicating strong buyer appetite. Units, by contrast, recorded medians from $395,000 to $432,500 and growth from -2.6% to 3.95%, signalling softer conditions. Houses sell in 22–36 days, with 184–209 sales in the past year, and gross yields of 3.7–4.2% for houses and 4.7–5.2% for units. Weekly median rents range from $410 to $430 for houses and $390 to $405 for units. Investor demand is supported by unit yields above 4.7%, while owner-occupier demand is reflected in house price growth and turnover. The key risk is the unit oversupply or weaker demand, evidenced by flat-to-negative unit price growth, plus sensitivity to interest-rate changes given the value-priced market.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 2 Gleneagles Drive (5-bed) ~$800k; 23 Gleneagles Drive (4-bed) ~$780k | Property Price Band: $800k–$900k | Value Drivers: large land, flexible layout, Westlake setting
Bedrooms
3
Bathroom
2
Parking
3
Land
875m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!