21/41 Harrow Street, Box Hill VIC 3128
21/41 Harrow Street, Box Hill VIC 3128
2 bed 2 bath 1 car | 93 m² low-rise | boutique 33 residences | Box Hill High zone | strong rental demand
This unit holds a genuine edge in Box Hill’s apartment market. Most local stock sits in high-rise towers near the station, but this is a low-rise boutique building of only 33 homes, which typically means better build quality, quieter living, and fewer short-stay neighbours. The 93 m² floorplan is generous for a two-bedder, and the combination of stone benchtops, Smeg appliances, and a waterfall island lifts it above entry-level finishes. It is best suited to a first home buyer wanting space without a house price, a downsizer trading suburban maintenance for walkable convenience, or an investor chasing the strong rental profile this area supports. The school catchment adds another layer of buyer demand.
The main value considerations are the lack of a stated floor level and building age, which may influence light, outlook, and ongoing body corporate costs. The reported rental estimate of $635 per week sits comfortably against the building’s recent rental evidence, suggesting income potential is solid. The low-rise format should also hold value better than high-density towers in softer markets, but the absence of lift access in some units, if applicable, could narrow the buyer pool. Weigh the 93 m² against typical two-bedroom apartments in the precinct—this extra space often translates to stronger resale demand.
Detailed Independent Property Report prepared by PropCred Analyst team for 21/41 Harrow Street, Box Hill VIC 3128
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Box Hill is a densely developed eastern Melbourne hub where units dominate at 78% of dwellings, with a young professional skew and median age of 33. Demand is largely rental-driven—56% of households rent—while first-time buyers face high entry barriers given house prices around $1.67–1.71 million, though one source records $1.4 million. House price momentum is mixed: a 0.44% annual gain contrasts with a -1.7% compound decline, and the REIV shows a sharp -10.7% quarterly drop. Sales are thin at 50–56 a year, and days on market have stretched to 80, up 29%, signalling a cooling market. Units are more affordable at about $500,000 but have fallen 10–15% year-on-year, suggesting apartment oversupply; unit yields of 5.9–6.3% support investor interest, while house yields sit at just 2.4%. Key constraints include affordability barriers, rate sensitivity, and auction clearance rates of 58–66%, well below Melbourne’s 77.8% average.
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PropCred Estimated Value
Comparable Sales: 315/15-21 Harrow Street sold $428k; 218/15-21 Harrow Street sold $400k | Property Price Band: $400k–$500k | Value Drivers: larger floorplan, boutique low-rise setting, school catchment access
Bedrooms
2
Bathroom
2
Parking
1
Land
93m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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