12 Water Reed Court, Narre Warren North VIC 3804
12 Water Reed Court, Narre Warren North VIC 3804
6 bed custom build | 1,274m² Oak Tree Rise | pool, theatre, multiple living zones | premium family estate pocket | price well above suburb norm
This is a genuinely rare property for Narre Warren North. The combination of six bedrooms, four car spaces, and over 1,270 square metres of land places it firmly in the prestige end of the suburb, well beyond the typical family home. The build quality is the real differentiator here — heated polished concrete floors, double glazing, soaring ceilings, and a designer kitchen with butler’s pantry are not standard offerings in this market. The resort-style outdoor setup with solar-heated pool, spa, and covered alfresco with Ziptrak blinds extends the living space significantly, making it ideal for entertaining or multi-generational households. The north-facing balcony with sunset views adds a lifestyle element that most comparable homes simply cannot match. This property serves buyers who want space, privacy, and a turn-key premium home without the need for renovation or improvement.
The main value consideration is the price point relative to the local market. The property sits well above typical sales in the area, which naturally narrows the buyer pool and may affect how quickly it sells. The lack of recent comparable sales within close proximity means pricing is more subjective, and the final figure will depend heavily on how much a buyer values the custom finishes, land size, and pool setup. The six-bedroom configuration may also appeal more to specific family structures than to general buyers, which could influence negotiation flexibility. The large land component does offer future options, though the established estate setting limits subdivision potential. Buyers should weigh the premium build quality against the reality that this is a niche property in a suburb where most demand sits at a lower price level.
|| Comparable Sales: 12 The Rise sold $1.18M (5 bed, 718m²) and 28 Oakview Blvd listed $1.59M–$1.7M | Property Price Band: $2.2M–$2.5M | Value Drivers: land size, custom build quality, pool and entertaining amenity
Detailed Independent Property Report prepared by PropCred Analyst team for 12 Water Reed Court, Narre Warren North VIC 3804
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
Income Risk
2
Execution Risk
1
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Market Insight
Narre Warren North, 36 km southeast of Melbourne, is a premium house market with median prices ranging from $1.37m to $1.70m across sources, though most quote around $1.5m. The market is correcting: annual growth is -3.5% to -8.2%, and houses sit on the market for 38 to 51 days, with annual sales volume of 56 to 82. Low gross rental yields — 2.78% to 3.46% for houses and 3.21% for units — point to a predominantly owner-occupier buyer base rather than investors. Weekly house rents of $845 to $895 provide modest returns. No unit price, vacancy, or demographic data is available. The key constraint is affordability: at these price levels, buyers are rate-sensitive, and the current negative growth suggests any further rate pressure would extend the correction.
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PropCred Estimated Value
Comparable Sales: 12 The Rise sold $1.18M (5 bed, 718m²) and 28 Oakview Blvd listed $1.59M–$1.7M | Property Price Band: $2.2M–$2.5M | Value Drivers: land size, custom build quality, pool and entertaining amenity
Bedrooms
6
Bathroom
3
Parking
4
Land
1274m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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