1/184 Wickham Road, Highett VIC 3190
1/184 Wickham Road, Highett VIC 3190
Unit in multi-dwelling complex | Strong rental evidence at $675/wk | Mixed-use corridor with flood overlay | Convenience-first location | Suits investors and first-home buyers
This unit sits within a multi-dwelling site on a corridor that balances residential stock with non-residential parcels, giving it practical rather than prestige appeal. The immediately relevant rental evidence at $675 per week points to genuine tenant demand, which makes the unit a credible option for an investor seeking income security, or a first-home buyer wanting a foothold in Highett without detached-house outlay. Its position near Nepean Highway and Southland shopping improves everyday access, while the broader unit mix in the suburb ensures this property type trades as a common segment rather than a specialty. For a buyer prioritising affordability and location efficiency over architectural distinction, this unit serves that need well, and its compact footprint should keep holding costs manageable.
Value may hinge on how the unit sits within the complex — floor level, natural light, and aspect are unverified but could shift its appeal relative to similar stock. The flood overlay seen on other parcels along this corridor might affect redevelopment or insurance costs, so that should be weighed. Traffic exposure near the arterial junction may also temper price growth, while the confirmed rental figure offers some yield support. These factors may narrow the buyer pool but should not overshadow the unit’s practical basics.
Detailed Independent Property Report prepared by PropCred Analyst team for 1/184 Wickham Road, Highett VIC 3190
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
2
URL has been copied successfully!
Market Insight
Highett sits in Melbourne’s bayside corridor, linked to the CBD via Frankston line trains and arterial roads. Demand is led by established families and professionals; 43% of households hold mortgages and the median age is 40. House prices cluster around $1.4m, with recent medians from $1.36m to $1.5m, but annual growth is mixed, from -0.8% to 4.5%, indicating a flat-to-soft market. Units show firmer momentum, with annual growth up to 16.8%, though quarterly swings are sharp. Sales volume for houses is moderate at 148-171 per year; units saw 163 recent sales. Gross yields are modest for houses at 3.0-3.6%, firmer for units at 4.65%. Quality schools including Highett Primary and McKinnon Secondary underpin family demand. Bayside proximity supports future interest, but affordability remains a constraint: auction clearances of 59-80% signal rate sensitivity. Growth will depend on unit supply and interest rate direction.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 174 Wickham Road at $840,000 (5-bed house) and a 3-bed Highett property at $545,000 | Property Price Band: $600K–$700K | Value Drivers: configuration, internal condition, and proximity to transport and retail
Bedrooms
2
Bathroom
1
Parking
2
Land
1489m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!