2/48 Hazelwood Road, Boronia VIC 3155
2/48 Hazelwood Road, Boronia VIC 3155
2-bed unit | 411 sqm land | rare for unit stock | quiet complex | last sold 2018
The property is defined by its unusual land size of 411 sqm, which is rarely attached to a two-bedroom unit. Space and privacy are provided at a level not typically found in Boronia’s unit stock. The unit is positioned within a quiet and well-maintained complex, and low-maintenance living with meaningful outdoor utility is offered. First-home buyers and downsizers are best served by this unit, as are investors drawn to a scarce landholding format. In the context of Boronia’s mixed housing market, a competitive edge is held over conventional units while remaining more attainable than detached homes.
The value may be influenced by layout, condition, and presentation, which are not fully detailed. The large land component might be regarded as a future opportunity, though zoning and title restrictions could limit redevelopment. Expectations may be shaped by market conditions since 2018, and perceived worth might be affected by interior quality when compared with newer units. These factors should be weighed.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/48 Hazelwood Road, Boronia VIC 3155
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Boronia, outer eastern Melbourne’s sub-regional retail hub with ~40,000 sqm of space, draws families and singles, with owners outnumbering renters. House medians sit near $880,000, up 3.8–6.0% annually; units at $686,500, up 5.4–7.3%. Conditions are firm; houses sell in 21 days, auction clearances hit 74.0% for houses and 84.4% for units. Sales volumes remain solid—273 houses, 246 units—while gross yields range 3.6–3.9% for houses and 4.2–4.4% for units. Growth rests on the retail centre and local connectivity; constraints include household income 14.8% below Greater Melbourne’s average and fluctuating annual sales, indicating affordability pressures and rate sensitivity.
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PropCred Estimated Value
Comparable Sales: 4/41 Chandler Road (townhouse, $1,735,000) | Property Price Band: $800,000-$900,000 | Value Drivers: land size, condition, privacy
Bedrooms
2
Bathroom
1
Parking
1
Land
855m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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