203/111 Canning Street, North Melbourne VIC 3051
203/111 Canning Street, North Melbourne VIC 3051
Modern 2-bed apartment | premium finishes | strong rental demand | secure parking | circa-2019 build
This unit sits in a newer, higher-spec segment of North Melbourne’s apartment market. The 2-bed, 2-bath, 1-car configuration with stone benchtops, Miele appliances, and split-system climate control is well above the older walk-up stock common in the suburb. The complex’s shared amenities—gym, cinema rooms, garden areas, on-site retail—add a lifestyle layer that appeals strongly to professional couples, hospital and university workers, and downsizers seeking city-fringe convenience without the maintenance of a house. The building’s stable tenure mix, with many owners holding six to ten years, points to a resident base that values the location and the property’s functionality, which supports consistent rental demand and resale appeal.
Value may be shaped by the unit’s exact floor level and aspect, which are not confirmed and could influence light, views, and noise exposure. The property’s reliance on strata management and shared facilities means ongoing fees and building governance matter to long-term holding costs. The wider Arden/Macaulay renewal corridor might bring further development, potentially adding supply or improving the precinct’s amenity. Buyers should weigh the premium over older nearby stock against the convenience and quality this property delivers.
Detailed Independent Property Report prepared by PropCred Analyst team for 203/111 Canning Street, North Melbourne VIC 3051
Checks found:
Value Risk
Liquidity Risk
Planning Risk
1
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: 201/111 Canning Street sold $666k; 320/111 Canning Street sold $626k | Property Price Band: $600k–$700k | Value Drivers: modern condition, secure parking, building amenities
Bedrooms
2
Bathroom
2
Parking
1
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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