2/204 Templestowe Road, Templestowe Lower VIC 3107
2/204 Templestowe Road, Templestowe Lower VIC 3107
2-bed unit, 278m² site | 2-car parking, low-maintenance | Templestowe Lower pocket, school proximity | Strong downsizer and investor appeal
This unit holds a genuine competitive edge through its two-car parking and private land component, a configuration that stands out in a market where most 2-bedroom units trade with single-car arrangements. The 278m² parcel offers outdoor space that appeals directly to downsizers seeking a ground-level alternative to apartments, while the established residential corridor provides walkable access to primary schooling and parkland. It serves best as a low-maintenance purchase for owner-occupiers prioritising convenience, or as a solid rental holding given the suburb’s consistent demand for compact, well-located units.
Value may be shaped by the property’s position within a mixed-use corridor, where arterial road exposure could influence perceived quietness and appeal to certain buyers. The absence of lift access or modern finishes might narrow the buyer pool compared to newer stock, though the land component and parking offset this by offering scarcity. The conflicting land size figures—278m² versus a larger off-market figure—may indicate strata title nuances that could affect how buyers perceive the yard’s usability, so clarifying the exact title allocation is worthwhile before forming a price view.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/204 Templestowe Road, Templestowe Lower VIC 3107
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
2
Execution Risk
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Market Insight
Templestowe Lower presents as a mature Manningham suburb where established families and professionals dominate, supported by high owner-occupier demand. House prices hover between $1.3m and $1.4m, with annual movement ranging from -3.4% to +1.5%; units trade near $0.9m, with growth between -2.0% and +2.8%. Sales volume is moderate at 192-217 houses annually, and houses take 43-83 days to sell, reflecting selective buyer activity. Rental yields are modest, with houses at 2.7-3.4% and units at 3.6-4.0%, while the 60.7-73.8% auction clearance rate signals steadiness. Demand remains underpinned by professional, family-oriented buyers; however, the 6.8% sales decline, longer selling times, and mixed price outcomes highlight affordability and rate-sensitivity as key constraints. Growth depends on sustained owner-occupier buying and rental demand, supported by 146 house listings and 15 new listings.
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PropCred Estimated Value
Comparable Sales: 3-bed townhouse nearby sold $950K–$1.05M; 2-bed unit in similar corridor sold $780K–$850K | Property Price Band: $800K–$900K | Value Drivers: private land size, dual parking, school catchment proximity
Bedrooms
2
Bathroom
1
Parking
2
Land
278m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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