202/193 Mckinnon Road, Mckinnon VIC 3204
202/193 Mckinnon Road, Mckinnon VIC 3204
2/2/1 with 82m² | McKinnon Secondary zone | modern low-maintenance block | main-road exposure | tight unit supply
This unit is competitively positioned in a well-regarded school zone, with a generous 82 square metres of internal space for a two-bedroom apartment. The two-bathroom layout and single car space are expected to be practical for owner-occupiers, and the building’s sales history indicates a predominantly modern, resident-managed stock. It is best suited to families seeking access to McKinnon Secondary College without the maintenance of a house, as well as downsizers and professionals wanting a low-maintenance base close to rail and retail. The property is situated within a compact building on a main corridor, where demand is consistently driven by school zoning and proximity to the station. Its internal size is set apart from older, smaller units in the area.
Value may be tempered by the main-road location, which introduces traffic noise and reduced privacy. The absence of on-site amenities might be viewed as a limitation for some buyers, and the building’s historical resales are seen to show modest capital growth over long holding periods. However, sustained demand from the school zone could be relied upon to support pricing, particularly for buyers prioritising access and space over quiet. A buyer should weigh these factors when forming a view on price, as the property’s true value is likely to be influenced by how much the location premium is offset by its exposure.
>> Comparable Sales: 201/193 McKinnon Road sold $630k; 302/193 McKinnon Road sold $698k | Property Price Band: $600k–$700k | Value Drivers: school zone, internal area, main-road aspect
Detailed Independent Property Report prepared by PropCred Analyst team for 202/193 Mckinnon Road, Mckinnon VIC 3204
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
McKinnon sits in Melbourne’s bayside, with family buyers dominating a market oriented to three- and four-bedroom houses. The median house price is around $1.85 million, though annual growth ranges from -4.3% to 6.2% across providers, indicating a market that has cooled after earlier gains. Units sit near $820,000–$857,000, with yields around 4%, versus 2.65–3.5% for houses. Houses rent at a weekly median of $1,100, and units at $680–$685; house rents have grown 15.8% annually, underscoring strong tenant demand. Houses sell in 29–43 days, with auction clearance rates of 74.6–94.7%, and annual sales volumes of 60–84, suggesting competitive but thin turnover. Affordability is the key constraint: entry-level buyers face a high price floor, and negative growth prints in some indices point to interest-rate sensitivity. Future strength rests on tight rental conditions and persistent family demand for larger homes, but the thin supply and price level keep downside risks live.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
445m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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