2 Victoria Street, Port Albert VIC 3971
2 Victoria Street, Port Albert VIC 3971
1950-built house | 831 m² land | 19% site coverage | bushfire overlay | low vacancy area
This is a mid-century house on a genuinely generous block, and that land-to-building ratio is the real story here. With only 19% site coverage, there’s substantial room for extension, a shed, or landscaping without compromising the existing footprint. The house itself is modest—three bedrooms, one bathroom—but it sits in a quiet coastal township where demand is driven by lifestyle buyers, holiday-home seekers, and investors looking for low-density holdings. The rental market is exceptionally tight, with vacancy near zero, which makes the estimated $405 weekly rent a meaningful signal for anyone weighing owner-occupancy against future rental use. For a buyer who values space, privacy, and a slower pace, this property offers a rare combination of size and simplicity.
The bushfire overlay is the main factor that might shape your view on price, as it can influence insurance costs and any future building work. The low ground elevation of 2 metres also warrants a closer look at drainage and site conditions, even though no flood overlay has been flagged. The house’s age means condition and any prior updates will matter more than the original build quality, and the lack of verified detail on finishes or internal layout leaves room for inspection to either confirm or challenge the estimate. Market turnover here is slow, with homes averaging over seven months to sell, so patience may be needed if resale timing is part of your plan. These are not deal-breakers, but they are worth weighing alongside the property’s clear strengths.
|| Comparable Sales: 7 Victoria Street sold at $410,000; 12 Victoria Street sold at $385,000 | Property Price Band: $400,000–$500,000 | Value Drivers: land size, low site coverage, rental scarcity
Detailed Independent Property Report prepared by PropCred Analyst team for 2 Victoria Street, Port Albert VIC 3971
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
2
Execution Risk
URL has been copied successfully!
Market Insight
Port Albert, a coastal town in Wellington Shire, is a low-volume market defined by tight rental conditions. Demand centres on lifestyle buyers seeking coastal views, supported by an extremely low vacancy rate of 0.28–0.33% and a rental population just over 11%. House prices show divergent signals: median values range from $419,000 to $640,000, with annual growth reported between 5.87% and 13.75%, while quarterly swings of –18.04% reveal volatility. Stock sits at 22 houses, up 46.67% year-on-year, but only eight houses sold in the past year and zero in the previous month, indicating thin liquidity. The primary growth driver remains scarce rental supply and scenic premium listings, including a $770,000 property. Risks centre on price instability, low turnover, and sensitivity to buyer sentiment in a sparsely populated area.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 7 Victoria Street sold at $410,000; 12 Victoria Street sold at $385,000 | Property Price Band: $400,000–$500,000 | Value Drivers: land size, low site coverage, rental scarcity
Bedrooms
3
Bathroom
1
Parking
3
Land
771m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!