17 Canning Street, North Melbourne VIC 3051
17 Canning Street, North Melbourne VIC 3051
4-bed park-side house | heritage terrace form | courtyard fishpond gardens | serene green outlook | family owner-occupier appeal
This property is regarded as a genuinely rare find in North Melbourne. A four-bedroom house opposite Pleasance Gardens, it is set within a heritage-rich streetscape and is configured around fishponds, a courtyard, and a second paved entertaining area. That garden-focused environment is not replicated in the suburb’s newer apartment stock. The property is considered best suited to family owner-occupiers who are drawn to premium inner-city addresses with park frontage and character rather than strata living.
Value may be influenced by the property’s heritage-era construction, which could involve maintenance considerations, and by flood overlay conditions that might affect the broader precinct, potentially impacting insurance or future works. The strong park-side position and four-bedroom layout are likely to support enduring demand, while the general apartment intensification in the area might create pressure on street parking and local character. These factors ought to be weighed when forming a view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 17 Canning Street, North Melbourne VIC 3051
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
North Melbourne is an inner-city market anchored by CBD proximity and established transport links. Demand comes from young professionals and returning international students, with first-home buyers in the more attainable unit segment. House prices have slipped, with a $1.28 million median and annual growth of -2.4%, while units rose 8.3% to a $520,000 median. Tight supply and low vacancy underpin rentals; unit yields run 6.6% versus 3.2% for houses. Future growth hinges on gentrification and constrained listings, though affordability pressures and a 17.5–18% rise in new listings are near-term risks.
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PropCred Estimated Value
Comparable Sales: 7 Canning Street, similar Victorian terrace opposite Pleasance Gardens, sold Nov 2024 | Property Price Band: $1.3M–$1.4M | Value Drivers: park frontage, four-bedroom layout, heritage setting
Bedrooms
4
Bathroom
2
Parking
-
Land
354m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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