21 Dendron Place, Mount Eliza VIC 3930
21 Dendron Place, Mount Eliza VIC 3930
Elevated Wooralla estate lot | custom-build blank canvas | heritage and design controls | large school-zoned parcel | bay-view potential
This is considered a rare large landholding within Wooralla Estate, an elevated, treed pocket of Mount Eliza where design guidelines and heritage controls are applied to protect the character. A genuine blank-canvas opportunity is offered for a custom family home, with a size and privacy profile that stands well apart from conventional suburb stock. It is positioned within a school-zoned prestige corridor close to Mount Eliza Village, beaches, and private schools, which makes it most suited to family buyers or up-sizers wanting to build a long-term property rather than renovate an existing house.
Heritage, design and vegetation overlays may be applied to shape what can be built and how the site can be cleared. A bushfire overlay on nearby parcels may also be expected to affect construction costs. Value may therefore be seen to hinge on approved build potential, usable land area, and site position within the estate rather than on the current presentation.
>> Comparable Sales: 15 Dendron Place (estate parcel sold off-market); 23 Dendron Place (largest estate parcel) | Property Price Band: $2.9M–$3.2M | Value Drivers: land size, build potential, estate position
Detailed Independent Property Report prepared by PropCred Analyst team for 21 Dendron Place, Mount Eliza VIC 3930
Checks found:
Value Risk
✓
Liquidity Risk
!
1
Planning Risk
✕
2
Income Risk
✕
2
Execution Risk
!
1
Market Insight
Mount Eliza is an affluent, family-dominated suburb on the Mornington Peninsula, with household incomes well above the metropolitan average. Families are the primary buyer group, drawn by strong school catchments and a coastal lifestyle; house rents have risen 5.3% to $1,000 weekly, confirming stable rental demand. The median house price is around $1.65 million, with annual growth between 2.5% and 5.0% in most measures, though one series shows a slight decline. Market conditions are mixed, with houses selling in 38 to 104 days and sales volume near 290. Units remain a smaller segment, with median prices from $695,000 to $890,000 and yields up to 4.3%. Future growth relies on sustained family demand, but affordability constraints and rate sensitivity are key risks, evidenced by variable sales volumes and a recent 11.1% drop in house sales.
PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
1206m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst