12 Michael Avenue, St Albans VIC 3021
12 Michael Avenue, St Albans VIC 3021
3 bed 1 bath on 858 sqm | rear studio bungalow | development potential STCA | larger-than-typical block | family/investor appeal
An unusually large 858 sqm landholding is offered by this house, which is rarely matched in the local area. The rear studio bungalow is included as a versatile additional space, and its development potential, subject to council approval, is distinguished from standard suburban stock by its land-rich character. The property is best suited to long-term owners who prioritise space and future flexibility, including families seeking room to grow, and investors positioning for subdivision or multi-dwelling outcomes.
The value of this property may be affected by the condition and legal status of the rear bungalow, as compliance issues could limit its uses. Demand for larger blocks might be influenced by market conditions, and an absence of confirmed construction details may narrow buyer interest. Nevertheless, the land size is likely to be the overriding determinant, with development potential providing a buffer against presentation shortcomings.
Detailed Independent Property Report prepared by PropCred Analyst team for 12 Michael Avenue, St Albans VIC 3021
Checks found:
Value Risk
✕
2
Liquidity Risk
✕
2
Planning Risk
✕
2
Income Risk
✓
Execution Risk
!
1
Market Insight
St Albans, in Melbourne’s outer west, is a mid-priced market attracting working households and investors drawn by affordability. House prices have risen 7.6-8.9% annually to a $705,000-$710,000 median; units are stronger, up 10.8-12.7% to $545,000. Sales volumes hold at 388-443 houses yearly, but days on market span 33-92, signalling uneven demand. Rental growth supports investors: house rents up 5.3% to $500 weekly, with gross yields 3.6-3.8% for houses and 4.2-4.8% for units. Future growth relies on Melbourne’s scale and affordability; however, a 57.8% auction clearance and 6.5% annual sales dip are key constraints.
PropCred Estimated Value
Comparable Sales: 24 Glyndon Ave (651 sqm) sold $800k; 12 Thomas Street (679 sqm) sold $780k | Property Price Band: $800,000–$900,000 | Value Drivers: land size, rear bungalow, development potential
Bedrooms
3
Bathroom
1
Parking
2
Land
858m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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