15 Magpie Avenue, Metung VIC 3904

15 Magpie Avenue, Metung VIC 3904
3 bed 2 bath 2 car house | quiet Metung pocket | generous block potential | bushfire overlay caution | lifestyle buyer focus This house is regarded as a well-proportioned detached dwelling in a low-density Metung neighbourhood, where larger allotments and established residential character are the norm. The three-bedroom, two-bathroom layout with double car accommodation is broadly typical of local housing, yet the street setting offers a rare sense of openness and privacy. The property is positioned to suit downsizers, retiree owner-occupiers, and sea-change buyers seeking a manageable coastal base with room to breathe. Its residential zoning and proximity to water-oriented recreation are genuine strengths, and the detached form on a sizeable block is highly compatible with the area’s prevailing lifestyle demand. The property may be subject to bushfire overlay considerations common in this pocket, which could moderately raise insurance and compliance costs. Its generous land size and single-level potential are likely to appeal strongly to buyers prioritising space and simplicity, though the final value might hinge on internal condition and presentation. The immediate street context shows limited flood or heritage pressure, which supports a stable long-term outlook for owner-occupiers, but a full due-diligence check on exact overlay status is always advisable. >> Comparable Sales: 61 Muir Place land $58,000 | Property Price Band: $400K–$500K | Value Drivers: land size, presentation, condition, bushfire overlay
Detailed Independent Property Report prepared  by PropCred Analyst team for 15 Magpie Avenue, Metung VIC 3904
Checks found:
Value Risk ✓
Liquidity Risk ✓
Planning Risk ✓
Income Risk ✓
Execution Risk ✓
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Market Insight

Metung VIC 3904 is a coastal suburb defined by high owner-occupancy (81.8% in 2021), with demand led by childless couples and managerial professionals, many repaying $1000-$1399 monthly. House prices have fallen 15.9%-16.3% annually to a median of $603,000-$620,000, with days on market at 150-151 and annual sales of 33-35, indicating a soft, slow market. Gross yields sit at 4.0%-4.4%, and median house rents are $515-$535 weekly. Future support comes from coastal appeal and committed local ownership, but 31% of mortgaged owners and a sharp price correction point to rate sensitivity and demand constraints.
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PropCred Estimated Value

Bedrooms

3

Bathroom

2

Parking

2

Land

929m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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