23 Hallray Road, Mickleham VIC 3064
23 Hallray Road, Mickleham VIC 3064
Modern detached house on compact estate lot | Family-oriented growth suburb | Tight rental demand | School catchment for local primary and secondary | Configuration likely 3–4 bed, 2 bath, 2 car
This property sits within a well-established residential estate in Mickleham, where the surrounding streets are dominated by newer detached housing on medium-small lots. The likely configuration of 3 to 4 bedrooms, 2 bathrooms, and a double garage aligns closely with what the local market consistently demands, making it a practical fit for first-home buyers and young families seeking a modern layout without the maintenance burden of a larger block. The street itself is active and fully built out, which means the property benefits from established neighbours and a settled suburban feel rather than being surrounded by ongoing construction. For an investor, the tight rental market in the area, indicated by very low vacancy pressure, adds to its appeal as a dependable income-producing house.
The value of this property may be shaped by how its specific land size and internal floor area compare to others on the street, since lots here tend to be compact and fairly uniform. Build quality and presentation might also play a role, particularly if the house is older than the surrounding stock or shows signs of wear relative to newer offerings. The absence of any significant overlays or development constraints in the immediate area suggests a straightforward purchase, though the broader locality does carry some bushfire sensitivity that could influence insurance costs. Buyers should weigh these factors when forming a view on price, as they may affect both short-term appeal and long-term resale potential.
|| Comparable Sales: 23 Hollington Drive sold for $182,500 as land in 2020; nearby house-and-land packages have transacted in the high-$600k range | Property Price Band: $600,000–$700,000 | Value Drivers: land size, build condition, layout suitability for families
Detailed Independent Property Report prepared by PropCred Analyst team for 23 Hallray Road, Mickleham VIC 3064
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Mickleham, 29km north of Melbourne, is a high-growth fringe suburb anchored by the Merrifield master-planned community. Demand is driven by families and young professionals seeking affordable housing and emerging infrastructure; population jumped from 3,142 to 17,452 between 2016 and 2021. House prices sit at a $700,000 median, with annual growth of 3.8–4.8%, while units median $615,000–$624,000 and grow near 4%. Houses rent for $550 weekly, yielding about 4.1%. Market conditions are balanced but slower: median days on market runs 58–63, and sales volumes vary widely, signalling potential supply fluctuations. Future growth hinges on the Merrifield mixed-use development and new schools, though modest capital growth and longer selling times remain constraints.
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PropCred Estimated Value
Comparable Sales: 23 Hollington Drive sold for $182,500 as land in 2020; nearby house-and-land packages have transacted in the high-$600k range | Property Price Band: $600,000–$700,000 | Value Drivers: land size, build condition, layout suitability for families
Bedrooms
4
Bathroom
2
Parking
2
Land
350m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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