22/22-28 Canterbury Street, Flemington VIC 3031
22/22-28 Canterbury Street, Flemington VIC 3031
Studio apartment in Flemington | heritage overlay | first-floor with parking | strong transport access
This property offers a rare combination of inner-Melbourne affordability and genuine lifestyle access. The studio configuration with a separate bathroom and undercover parking positions it as a practical entry point for first-home buyers or a low-maintenance investment with stable rental demand. Its location on a tree-lined street within walking distance to trains, trams, and Flemington Village gives it a competitive edge over comparable units in less connected areas. The building’s recent sales history confirms a consistent market segment, and the current price guide suggests value aligned with recent transactions.
The heritage overlay is the primary constraint, limiting external alterations and adding potential delay or cost for any future changes. The studio layout may deter buyers seeking defined separation, and the older building stock warrants careful review of body corporate fees and maintenance history. However, for a buyer prioritising location over space, or an investor seeking a reliable inner-city rental with good transport, these risks are manageable and do not undermine the property’s core appeal.
Detailed Independent Property Report prepared by PropCred Analyst team for 22/22-28 Canterbury Street, Flemington VIC 3031
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
Income Risk
2
Execution Risk
1
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Market Insight
Flemington presents a compelling, dual-speed market where houses offer stable, long-term growth while units demonstrate exceptional recent capital appreciation. Demand is driven by buyers seeking relative value and strong rental yields, particularly for the unit sector. The market is active, with houses selling efficiently and overall sales volume increasing. Future growth is anchored by its established character and the unit market’s robust performance, though the divergence in price trends between property types indicates a nuanced and segmented market dynamic.
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PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
1
Land
1715m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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