139 Garonne Drive, Bannockburn VIC 3331
139 Garonne Drive, Bannockburn VIC 3331
Large land parcel | semi-rural family feel | owner-occupied township | niche buyer pool | house on 4,064 m²
The property is positioned as a large-lot family house in a low-density, owner-occupied township. Its defining strength is the land area, which gives it a semi-rural character that is scarce in typical suburban stock. The house is best suited to family upsizers and lifestyle buyers seeking space and privacy, while the modest rental profile suggests it is not an obvious investment purchase. The combination of four bedrooms, two bathrooms, and two parking spaces on a substantial block is expected to appeal to those wanting room to spread out without leaving the local area.
Value may be influenced by internal condition and the efficiency of the floor plan, as these determine how well the large landholding is utilised. Maintenance expectations for the block might be weighed heavily by buyers, and the price point could narrow the field of interested parties. Market speed is likely to be determined by how the property compares with similar large-lot family homes in the region.
>> Comparable Sales: similar 4-bedroom large-lot homes in Bannockburn, $1.05M–$1.15M | Property Price Band: $1.1M–$1.2M | Value Drivers: land area, condition, layout
Detailed Independent Property Report prepared by PropCred Analyst team for 139 Garonne Drive, Bannockburn VIC 3331
Checks found:
Value Risk
✓
Liquidity Risk
✕
2
Planning Risk
✕
2
Income Risk
✓
Execution Risk
!
1
Market Insight
Bannockburn, a growing regional centre on the Midland Highway, saw its population rise 22.5% from 2016, driven by young families and trades workers on middle-upper incomes. That cohort fuels demand for family houses, with median prices ranging from $554,000 for two-bedroom homes to $1.02 million for five-bedroom-plus properties. Current median house values sit between $717,000 and $800,000 across data providers, with annual growth of 0.6% to 2.6% and quarterly price movement of 5.3% against a regional 2.5% average. Market conditions are soft: supply outweighs demand, and houses sit 70 days on average versus a 54-day regional benchmark, giving buyers the edge. Gross rental yields are moderate at 3.8%, with weekly rents around $585–$600. Future growth depends on continued family migration and highway infrastructure, but oversupply and seller price sensitivity are key constraints.
PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
1 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst