29 Harrison Street, Deer Park VIC 3023
29 Harrison Street, Deer Park VIC 3023
4 bed / 3 bath detached house | 867 mยฒ land in Deer Park | planning for 4-lot subdivision | uncertain interior configuration
The primary competitive strength of this property is its unusually large 867 mยฒ residential lot in Deer Park, which is materially larger than typical suburban holdings in the area. The current house configuration is described as a 4-bedroom, 3-bathroom residence with two car spaces, featuring both upstairs and downstairs master suites and modern bathroom finishes. This property serves best a family seeking generous indoor and outdoor space, or a buyer with an eye toward potential redevelopment, given the recorded planning activity for subdivision into four lots. The large landholding positions this house as a rare find in a suburb where most detached homes sit on smaller parcels.
The conflicting data regarding interior size, with one source reporting 184 mยฒ and another only 99 mยฒ, may affect how buyers perceive the property’s livable space and value. The recorded planning application for subdivision into four lots and references to a 4-unit townhouse development suggest the site’s future use may transition from a single house to higher-density housing. The rental yield estimates suggest a sub-3% return, which may not satisfy investors seeking strong cash flow. Buyers should weigh the potential for future subdivision against the uncertainty of the current built form.
Detailed Independent Property Report preparedย by PropCred Analyst team forย 29 Harrison Street, Deer Park VIC 3023
Market Insight:
This suburb is positioned as an established, family-oriented market with high owner-occupancy. Demand is primarily driven by young professional families seeking stable housing, evidenced by strong auction clearance rates and faster sales compared to neighbouring areas. Recent price trends show solid capital growth for houses, though the market has softened with increased days on market and declining sales volumes, indicating a shift in conditions. Future growth is underpinned by sustained buyer interest, yet key risks include market sensitivity and a notable slowdown in transaction activity.