254 Wright Street, Westmeadows VIC 3049
254 Wright Street, Westmeadows VIC 3049
Detailed Independent Property Report prepared by PropCred Analyst team for 254 Wright Street, Westmeadows VIC 3049
Checks found:
Value Risk
✕
2
Liquidity Risk
✕
2
Planning Risk
✕
2
Income Risk
✓
Execution Risk
✓
Market Insight
Westmeadows, 16km northwest of the CBD, sits between Broadmeadows and Tullamarine, a green, family-focused suburb drawing professional households and couples with children. Its median house price is $746,000–$765,000, with annual growth of 13–14.6% and auction clearance rates of 86–94.7%, reflecting robust demand. Houses sell in 24–28 days on average, with 76–78 sales over the past year, indicating tight supply and quick turnover. Units median $600,000, with yields around 4.8%, while houses yield 3.8–4.3%. Rents hold at $550–$590 weekly for houses. Future growth is supported by airport and city links and affordability relative to Melbourne. Risks include 27.6% five-year price growth and rising investor presence, with owner-occupancy down to 72.2%, leaving the market sensitive to rate changes.
PropCred Estimated Value
Bedrooms
4
Bathroom
1
Parking
3
Land
536m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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