27 Third Street, Harvey WA 6220
27 Third Street, Harvey WA 6220
Mixed residential edge | older character housing | large-lot potential | development land nearby | school catchment
27 Third Street is positioned on a mixed residential edge of Harvey where older character housing and larger landholdings are seen side by side. The property is expected to sit on a generous lot by town standards, and the street has been identified in structure planning, which gives the land a level of future flexibility that ordinary suburban blocks do not carry. Older cottage forms on this street have been described as functional family housing with established gardens and defined living zones. This configuration is considered most suitable for buyers who want a foothold in a regional centre without paying a premium for new finishes. First-home buyers, renovators, and investors are typically drawn to this part of Harvey, while the larger-lot character may also appeal to owner-occupiers looking for space for a shed, animals, or future subdivision interest. School catchment access to Harvey Primary School and Harvey Senior High School is a practical advantage.
The value of 27 Third Street may be shaped most strongly by the land holding rather than the house itself. If the block extends beyond typical town lots, a premium is likely to be placed on size, development potential, and any irrigation or shed improvements. Older dwellings on this street may require updating, and condition could be the deciding factor between a lower entry price and a fully renovated result. Zoning as urban development has been identified nearby, so a buyer should weigh whether the site carries similar flexibility; however, approval timelines and holding costs might temper the upside. Rental demand is considered moderate, with smaller cottages achieving mid-single-digit yields while larger holdings are valued more for land than income. Harvey’s slower sales pace should be factored into resale expectations.
Detailed Independent Property Report prepared by PropCred Analyst team for 27 Third Street, Harvey WA 6220
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Harvey, a former private town on the South Western Highway, trades well below the state median, with houses at $470,000–$528,000 and families making up 69% of households; 43% of owners hold mortgages, indicating entry-to-mid-level buyer demand. Annual growth is robust at 8.8%–17.2%, while houses sit on market just 10–17 days and 3-bedroom rents run $500–$550 weekly, with unit yields at 8.22%. Sixty-seven houses traded in the past year. Yet supply outweighs demand, and with limited unit turnover and no vacancy data, the market’s constraint is clear: buyers can afford to walk away, so sellers must price realistically. Future growth hinges on infrastructure and employment catalysts, but absent those, organic capital growth remains capped.
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PropCred Estimated Value
Comparable Sales: a 1930s 3-bed on 1,012 m² sold at $290k in 2022; a 1990s 4-bed on 3,862 m² sold in 2021 | Property Price Band: $600K-$700K | Value Drivers: land size, condition, development potential
Bedrooms
3
Bathroom
1
Parking
-
Land
980m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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