102/8 Park Road, Surrey Hills VIC 3127
102/8 Park Road, Surrey Hills VIC 3127
North-facing corner apartment | Boutique 12-residence block | Two car spaces plus storage | Downsizer and professional appeal
This apartment holds a genuinely rare position within Surrey Hills. The rear siting and north-facing corner aspect deliver light and privacy that most apartments in the suburb simply do not offer, and the 2017 construction means everything is current without the wear of older stock. The study, two bathrooms, and two side-by-side car spaces push it well beyond standard two-bedroom offerings, giving it the feel of a compact house rather than an apartment. That combination most directly suits downsizers leaving a family home, or professional couples who want low-maintenance living without sacrificing amenity. The boutique scale of only twelve residences also keeps it quieter and more exclusive than larger blocks, which tends to hold value better over time.
The property’s value may be shaped by how the market weighs apartment living against the suburb’s strong detached house premium. Surrey Hills buyers often prioritise land, so this unit may appeal to a narrower audience than neighbouring houses, which could temper price growth compared with period homes. However, its as-new condition and superior configuration might offset that by attracting buyers who specifically want modern, secure, low-maintenance living in an established school catchment. The absence of a private outdoor area may also be a consideration for some, though the north-facing balcony partially compensates.
|| Comparable Sales: 2/59 Park Road townhouse sold around $995,000; 14 Park Road semi sold $1.135M in 2017 | Property Price Band: $800,000–$900,000 | Value Drivers: North-facing corner layout, as-new condition, two car spaces and storage
Detailed Independent Property Report prepared by PropCred Analyst team for 102/8 Park Road, Surrey Hills VIC 3127
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
2
URL has been copied successfully!
Market Insight
Surrey Hills is an inner-east Melbourne suburb anchored by strong transport links and top school catchments, with demand concentrated among families, downsizers, and professionals seeking period homes and leafy streetscapes. House values sit at a median near $2.2 million, though annual growth is mixed: recent indicators range from a 0.25% decline to 3.2% growth, while the quarterly REIV figure fell 6.4%. Units are more affordable, with medians from $847,500 to $945,000 and annual growth between 1.1% and 8.3%. Houses spend roughly 31–59 days on market, reflecting a moderately balanced market, while gross rental yields are low for houses at about 2.1% and higher for units at 3.3–4.0%. Demand drivers remain consistent: school quality, period housing, and connectivity underpin buyer interest. Key constraints are high entry prices and affordability, with sales volumes down 7.6% for houses and 15.7% for units year on year, and auction clearance rates at 69.2% indicating selective buyer activity.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 2/59 Park Road townhouse sold around $995,000; 14 Park Road semi sold $1.135M in 2017 | Property Price Band: $800,000–$900,000 | Value Drivers: North-facing corner layout, as-new condition, two car spaces and storage
Bedrooms
2
Bathroom
2
Parking
2
Land
969m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!