205/222 Buckley Street, Essendon VIC 3040
205/222 Buckley Street, Essendon VIC 3040
Modern two-bedroom apartment | Built 2020 | Secure parking and storage | Strong rental demand | Buckley Street convenience
This is a competitively positioned modern apartment in a well-established Essendon pocket, where newer infill stock remains relatively uncommon. The building itself is contemporary, with quality finishes like stone benchtops, Bosch appliances, and engineered timber flooring appearing across comparable units. For a buyer seeking low-maintenance living without sacrificing amenity, this property offers a practical configuration with secure parking and storage, which is meaningful in a suburb where older walk-ups often lack both. It suits first-home buyers wanting a foothold in Essendon, downsizers prioritising convenience, or investors attracted to consistent rental demand near rail, shops, and schools. The second-floor position likely provides a degree of separation from street activity, though the exact outlook remains unconfirmed.
Value may be shaped by how the unit compares to others in the same building, particularly bathroom count and internal layout efficiency. Buckley Street itself is a busier connector than quieter internal streets, so noise exposure could be a consideration depending on window orientation and building insulation. The absence of a separate land component limits scarcity value compared to detached housing, but the modern build and secure parking help offset that. Buyers should weigh the trade-off between convenience and the more urban character of the corridor, and consider how the property’s finishes and floor plan stack up against newer competitors in the immediate area.
|| Comparable Sales: 301/222 Buckley Street sold around $520k; 5/225 Buckley Street sold $470k in 2021 | Property Price Band: $500k–$600k | Value Drivers: Modern build quality, secure parking and storage, proximity to rail and shopping precincts
Detailed Independent Property Report prepared by PropCred Analyst team for 205/222 Buckley Street, Essendon VIC 3040
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
2
Execution Risk
2
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Market Insight
Essendon, an established suburb with excellent transport links and proximity to Melbourne’s CBD, sees demand from buyers and renters drawn to its expanding Essendon Fields precinct. Median house prices range from $1.65m to $1.9m, with annual growth varying from +1.1% to -5.4% depending on source; units range from $460k to $600k, with gross yields near 2% for houses and 4.9–5.1% for units. Days on market for houses are 41–51 days; units 35–41 days, indicating moderate turnover. A tight 1.18% vacancy rate and strong rental demand for units indicate a robust rental market. Future growth hinges on Essendon Fields commercial expansion, but affordability and conflicting capital-growth signals remain constraints.
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PropCred Estimated Value
Comparable Sales: 301/222 Buckley Street sold around $520k; 5/225 Buckley Street sold $470k in 2021 | Property Price Band: $500k–$600k | Value Drivers: Modern build quality, secure parking and storage, proximity to rail and shopping precincts
Bedrooms
2
Bathroom
2
Parking
1
Land
836m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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