2/36 Murray Street, North Ward QLD 4810
2/36 Murray Street, North Ward QLD 4810
109 m² three-bedroom unit | inner-coastal North Ward | single-bath, single-car | larger than entry-level | owner-occupier appeal
This unit is positioned in a unit-dense inner suburb where larger three-bedroom stock is limited. The 109 m² footprint is considered more generous than typical entry-level apartments, so the layout is likely to be suited to a downsizer or professional couple wanting separation between living and sleeping zones without moving to a house. Because the market for three-bedroom units in this corridor is active, and because the property’s size gives it a rare edge over compact two-bedroom stock, the strongest buyer profile is seen as an owner-occupier looking for a low-maintenance coastal base, with investors also being drawn by the strong weekly rent this configuration can command. The single bathroom and single car space are workable but not generous, which keeps the unit below the top tier of prestige stock.
The eventual price may be influenced by the building’s age and the quality of common areas, as these affect body corporate fees and perceived maintenance risk. Aspect and floor level might matter more here than in a house, since outlook, breeze, and natural light are central to unit living. A dated interior could be improved over time, but a buyer paying for immediate convenience may discount for that work. Conversely, if the unit has been refreshed, a premium may be justified. Parking and storage constraints, if present, might narrow the buyer pool slightly.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/36 Murray Street, North Ward QLD 4810
Checks found:
Value Risk
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
1
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Market Insight
North Ward is a compact, apartment-dominated suburb where roughly 5,100 residents, mostly singles and 21% aged over 60, shape demand. Renters and downsizers drive activity, with units turning over in 18–21 days compared to 28–29 days for houses. House prices have climbed 17.3% annually to a $915,000 median, while units rose 15.1% to $443,000. Gross yields sit at 4.1% for houses and 5.2% for units, backed by median weekly rents of $500 and $470 respectively. With only 53 properties available last month, limited supply supports further price pressure, though affordability constraints and rate sensitivity temper the outlook.
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PropCred Estimated Value
Comparable Sales: 3/12 Warburton St, North Ward 3-bed unit sold $618k; 4/8 Hale St, North Ward 3-bed unit sold $652k | Property Price Band: $600k-$700k | Value Drivers: floor area, layout efficiency, natural light/outlook
Bedrooms
3
Bathroom
1
Parking
1
Land
1093m²
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