165 Esplanade West, Port Melbourne VIC 3207
165 Esplanade West, Port Melbourne VIC 3207
Extra-wide freestanding Victorian | Reserve frontage | Second street frontage | Single-level period house | Land-backed rarity
This property is positioned as a rare land-backed house in a suburb dominated by apartments and townhouses. Its freestanding single-level form, combined with reserve frontage and a second street frontage, is regarded as uncommon for the pocket. The period interior, including Baltic pine floors and an open fireplace, is retained, and the north-west rear aspect adds natural light. This house is best suited to owner-occupiers seeking family-scale space, school catchment access, and beach-lifestyle amenity without sacrificing character.
The single bathroom layout may be considered limiting for family buyers. Maintenance and upgrading may be required due to older Victorian fabric. Expansion may be constrained by the limited land area of about 230 sqm, though side access and secure parking are provided by the second frontage. Price may also be influenced by the market’s weighting of character versus modernisation.
>> Comparable Sales: 3/48 Esplanade West sold at $840,000 | Property Price Band: $1.6M–$1.7M | Value Drivers: period character, land size, reserve frontage
Detailed Independent Property Report prepared by PropCred Analyst team for 165 Esplanade West, Port Melbourne VIC 3207
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Port Melbourne is an established bayside inner suburb with a mature demographic. Demand is supported by major infrastructure, including the $1 billion Station Pier redevelopment and mixed-use towers on Bay Street, while auctions clear at 67.86%. House prices span roughly $1.55 million to $1.84 million, with annual growth ranging from -6.2% to +5% across sources, and a recent quarterly gain of 3.15%. Units are softer at $685,000–$819,000, with declines of -2.8% to -4.8% annually. Homes trade in 26–48 days, units average 49 days, implying uneven absorption. Future growth hinges on the Station Pier completion and new supply, though unit price weakness and variable house price momentum point to buyer sensitivity and potential oversupply.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
-
Land
230m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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