1/1 Railway Parade, Deer Park VIC 3023
1/1 Railway Parade, Deer Park VIC 3023
This is a three-bedroom, two-bathroom unit with one car space, sold for $620,000 in July 2025. It is part of an eight-unit complex on Railway Parade in Deer Park. The property is classified as a unit, offering a low-maintenance, multi-level layout typical of modern townhouse-style developments in the area.
What is competitively strong about this property is its configuration as a three-bedroom unit, which is less common in Deer Park’s predominantly detached housing stock. This layout provides a balance of space and affordability, making it particularly suited to first-home buyers and investors seeking lower entry costs without sacrificing bedroom count. Its location near Deer Park Station offers genuine transit convenience, and the property sits within the catchment for local public schools, adding to its appeal for young families. The unit represents a practical, cost-effective alternative to a standalone house in a suburb where median prices are higher, positioning it well for buyers prioritizing access and low upkeep.
Factors that may materially affect value include the property’s shared land parcel of 766 square metres, which limits private outdoor space and could influence long-term appeal for families wanting a yard. Noise from the nearby railway line might be a consideration for sensitive buyers, though this is common for transit-adjacent properties. The higher density of the complex, relative to typical detached homes in the suburb, may affect resale potential if buyer preferences shift toward larger lots. The unit’s age and finishes are not specified, so condition and any renovation needs could impact price expectations. Buyers should weigh these aspects against the property’s affordability and location advantages when forming a view on value.
Detailed Independent Property Report prepared by PropCred Analyst team for 1/1 Railway Parade, Deer Park VIC 3023
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
This suburb is positioned as an established, family-oriented market with high owner-occupancy. Demand is primarily driven by young professional families seeking stable housing, evidenced by strong auction clearance rates and faster sales compared to neighbouring areas. Recent price trends show solid capital growth for houses, though the market has softened with increased days on market and declining sales volumes, indicating a shift in conditions. Future growth is underpinned by sustained buyer interest, yet key risks include market sensitivity and a notable slowdown in transaction activity.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
1
Land
766m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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