1/22 Silver Street, Eltham VIC 3095
1/22 Silver Street, Eltham VIC 3095
3-bed unit on 251m² | Eltham High catchment | 2-car parking | Off-market with 1994 ownership history
This unit holds a genuine configuration advantage for Eltham—three bedrooms and two car spaces on a quarter-acre-equivalent block is uncommon in the unit segment, and that land component gives it a semi-detached feel rather than a typical apartment footprint. The school catchment pairing of Eltham High and Sherbourne Primary makes it a practical choice for families wanting the convenience of a unit without sacrificing access to established schooling. It suits downsizers seeking single-level living with parking flexibility, or young families stepping into the suburb with a property that offers more outdoor space than most units in the area.
The 1994 sale history suggests long-term ownership, which may mean the interior reflects an older finish standard than current buyer expectations. That could translate into a renovation opportunity, but it also means the price should account for potential updating costs. The bushfire overlay signal in the street context might affect insurance premiums or lending appetite for some buyers, though it is not confirmed for this specific property. The estimated value sits slightly below the suburb’s three-bedroom unit median, which may reflect condition or presentation rather than location weakness.
|| Comparable Sales: 4/22 Silver Street sold $400k–$460k; 20 Silver Street house valued $823k | Property Price Band: $780k–$880k | Value Drivers: land size, school catchment, renovation potential
Detailed Independent Property Report prepared by PropCred Analyst team for 1/22 Silver Street, Eltham VIC 3095
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
Eltham is an established, family-oriented suburb with a median house price of roughly $1.2–$1.3 million and units between $754,000 and $820,000. Demand is driven by higher-income professionals aged 40–59, mostly Australian-born, with bachelor-level qualifications and household sizes near 2.8 people. House price momentum is mixed: annual growth ranges from 0.97% to 5%, but quarterly changes are negative across sources, from -0.4% to -6.9%. Units show stronger annual growth, up to 8.5%, though quarterly figures are uneven. Houses take 20–48 days to sell and annual sales volume is down about 17% year-on-year, pointing to a slower, price-sensitive market. Gross rental yields are modest—around 4% for houses and lower for units—with median house rents near $720 per week. Key constraints are affordability at current price levels and interest-rate sensitivity, evidenced by softening quarterly prices and reduced transaction activity.
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PropCred Estimated Value
Comparable Sales: 4/22 Silver Street sold $400k–$460k; 20 Silver Street house valued $823k | Property Price Band: $780k–$880k | Value Drivers: land size, school catchment, renovation potential
Bedrooms
3
Bathroom
1
Parking
2
Land
251m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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