31 Marianne Way, Mount Waverley VIC 3149
31 Marianne Way, Mount Waverley VIC 3149
Corner 815m² land | Approved luxury design | Townhouse potential STCA | Mount Waverley North Primary zone | Homebuilder/developer focus
The land parcel is positioned at the larger end of established residential stock in this pocket, and the corner configuration is regarded as a genuine redevelopment edge. The approved luxury design is included with the sale, so a large part of the early planning uncertainty is removed and a buyer is enabled to move toward construction with a clear built form. The block is zoned within Mount Waverley North Primary School and is served by strong secondary schooling, trains, shopping and the freeway corridor, so the family amenity story is credible. For a homebuilder, one of the cleaner large-site opportunities in the area is found here; for a small developer, the corner dimensions are sufficient to test a townhouse scheme, but that path is subject to council approval. Best served are buyers who want either a designed house lot with less upfront work or a land position flexible enough to hold and revisit density later.
Value may be affected by the fixed design’s market appeal, and a natural-light advantage might be gained from the corner aspect, though boundary and setback issues may also be introduced. The townhouse route may be limited by planning policy, so the land should not be priced as multiple lots unless council confirms. Final price may be set by build cost and holding period.
>> Comparable Sales: 4 Marianne Way (721m²) sold around $1.5M; 112 Marianne Way (649m²) sold around $1.45M | Property Price Band: $1.5M-$1.6M | Value Drivers: corner land size, approved design, redevelopment flexibility
Detailed Independent Property Report prepared by PropCred Analyst team for 31 Marianne Way, Mount Waverley VIC 3149
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
Income Risk
1
Execution Risk
1
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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
Bedrooms
3
Bathroom
2
Parking
3
Land
815m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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