27 Gardenia Street, Horsham VIC 3400
27 Gardenia Street, Horsham VIC 3400
Large block | established family pocket | riverside proximity | redevelopment potential | modest house
This property sits on one of Horsham’s more desirable residential streets, where generous lots and established homes are the norm rather than the exception. The house itself is likely a single-storey weatherboard from the mid-to-late twentieth century, with three bedrooms, one bathroom, and a practical layout that prioritises function over flair. What makes it genuinely competitive is the land — blocks on this street commonly stretch well beyond 700 square metres, and some approach or exceed a thousand. That gives the property a flexibility many newer homes lack: room for sheds, gardens, outdoor entertaining, or even future subdivision if the zoning allows. It suits first-home buyers wanting space without paying a premium, families after a quiet street near the river and parks, and investors who recognise that land of this size in an established area tends to hold value well.
The main value considerations centre on condition and presentation. If the kitchen and bathroom have been updated, the property likely competes with the stronger end of the local market; if they remain original, the price may need to reflect that. The house’s modest floor area relative to its land size might mean the property appeals more to buyers who value outdoor space and potential over internal square footage. Renovation quality, the state of the carport or shed, and whether any modern heating or cooling has been installed could all shift the final figure meaningfully. Buyers should weigh what they are willing to invest after purchase against what the location and block size are already worth.
|| Comparable Sales: 6 Gardenia Street sold $543,000; 15 Gardenia Street marketed around $462,000 | Property Price Band: $400,000–$500,000 | Value Drivers: land size, renovation condition, riverside location
Detailed Independent Property Report prepared by PropCred Analyst team for 27 Gardenia Street, Horsham VIC 3400
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
1
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Market Insight
Horsham, the major commercial centre for western Victoria, draws demand from a demographic of mostly single, older residents, with 28% aged over 60 and most homes detached and owned outright. Median house prices range from $372,000 to $461,000 by source, with annual growth between 3.2% and 16.8%; units sit at $322,000–$405,000, with growth of 1.5%–17.1% though one measure shows a quarterly decline. Houses sell in 29–42 days, and yields are firm: 5.26% for houses and 4.6%–5.32% for units. Rents run $400–$450 weekly for houses and $320–$360 for units. Sales volumes remain steady, with 340–383 properties sold annually. Future growth rests on Horsham’s status as an accessible Wimmera entry point and commercial hub. Key constraints: household incomes run 6.6% below the regional Victoria average, and available listings reached 138 in the past month, indicating visible supply.
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PropCred Estimated Value
Comparable Sales: 6 Gardenia Street sold $543,000; 15 Gardenia Street marketed around $462,000 | Property Price Band: $400,000–$500,000 | Value Drivers: land size, renovation condition, riverside location
Bedrooms
3
Bathroom
2
Parking
3
Land
675m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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