24 Panorama Avenue, Highett VIC 3190

Sundrenched northerly rear | dual street frontage | 624sqm in Highett | development optionality This property presents a rare combination of immediate family amenity and future land value. The 624sqm lot with dual street frontage and northerly rear aspect is structurally scarce in Highett, giving a buyer positional leverage most competing listings lack. The existing 214sqm house, while modest, is liveable with plush carpet and leafy gardens, meaning no urgent capital outlay. It serves best a buyer wanting to occupy now while holding land for medium-term subdivision or a new home—a dual-use strategy that hedges against market timing. The reliable NBN and 5G coverage are supporting conveniences, not drivers. The primary risk is valuation divergence. Domain’s estimate at $1.78m sits well above property.com.au’s $1.408m, signalling potential overpricing if the seller leans toward the higher end of the indicative range. That gap costs a buyer negotiating leverage unless they have strong local comps. The lack of confirmed prior sales history for this address means no easy benchmark for price discovery. On opportunity, the dual frontage and 34% site coverage suggest a future subdivision or townhouse development is commercially plausible, though council overlays are absent, reducing approval friction. Hold this property as a family home with a three-to-five year view to extract land uplift or redevelop.