15 The Close, Mount Waverley VIC 3149
15 The Close, Mount Waverley VIC 3149
3-bed family house on 706 m² | quiet court pocket | Mount Waverley Secondary zone | school walkability | land-rich modest configuration
The competitive strength is found in a 706 m² land-rich configuration, with the house placed in the larger-lot family segment of Mount Waverley rather than the denser townhouse stock emerging in the suburb. A quiet court setting characterises the immediate pocket, with Essex Heights Primary School located within easy walking distance and secondary college zoning referenced for the area. The 3-bedroom, 2-bathroom layout is considered lighter on accommodation than many premium family homes, so the property serves buyers seeking established family living with genuine scope to renovate or extend, rather than a turn-key prestige house. School-driven demand is seen as the defining feature of this market, and the house is well matched to owner-occupier families prioritising location, land and potential.
The value may be materially influenced by the condition of the original structure, with land-rich older dwellings often attracting renovator and rebuild interest. School zone position might affect price, given the wide dispersion observed across local sales. Finished presentation is likely to shape buyer perception, and extension potential on 706 m² may represent the key opportunity, subject to council controls.
Detailed Independent Property Report prepared by PropCred Analyst team for 15 The Close, Mount Waverley VIC 3149
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
Mount Waverley’s residential market centres on family-oriented housing, with a median house price of $1.65m and units at $1.1275m. Houses grew 1.2% annually, units 1.9%; days on market range from 39 to 57, indicating balanced turnover. Gross rental yields are low at 2.7% for houses and 3.3–3.6% for units. Demand is driven by professional families in couples-with-children households (53%), supported by above-$2,000 weekly incomes and high-performing public and private schools. Established buyers dominate, with 42% outright owners and over 30% aged above 55. Future growth hinges on Glen Waverley line rail upgrades, level crossing removals, and Monash precinct employment. Constraints include affordability stress from elevated prices and interest-rate sensitivity, tight supply, and limited new developments.
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PropCred Estimated Value
Comparable Sales: 15 Virginia Street sold for $3.501M on 717 m² | Property Price Band: $1.2M-$1.3M | Value Drivers: land size, school zone position, renovation scope
Bedrooms
3
Bathroom
2
Parking
2
Land
706m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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