31 Wadham Parade, Mount Waverley VIC 3149
31 Wadham Parade, Mount Waverley VIC 3149
Large block in established garden suburb | single-level midcentury on 712m² | walk to village & top-tier schools | original condition signals renovation potential
This property presents a competitively strong land position within Mount Waverley, a suburb characterised by long-term residency. Its 712 square metre parcel significantly exceeds typical local lots, offering immediate scarcity value. The single-level, original-condition house on it serves a buyer seeking either a generous family home with renovation upside or a secure land banking opportunity in a high-demand school zone. Its configuration is rare for the area, providing a flexible floorplan and deep backyard that directly cater to owner-occupiers, while the lack of overlays simplifies future development.
The primary decision point is the cost of its original condition against the premium for its land size and location. You pay for potential, not present finishes, accepting the capital and effort required to modernise. The commercial logic is clear: add value through renovation or hold the substantial block in a rising market. Proceed with an offer strategy anchored in recent comparable sales, as the indicative price range appears aspirational against nearby transactions. A professional property report would ground your bid in verified sales data, clarify any locality risks, and ensure insurance assessments account for the midcentury construction.
Nearby sales within the last six months show a house sold for $1,560,000 within a 2km radius. This transaction, while not a direct comparison, suggests the vendor’s higher price guide requires justification based on this property’s larger land component. Your offer should be disciplined by these market signals.
Detailed Independent Property Report prepared by PropCred Analyst team for 31 Wadham Parade, Mount Waverley VIC 3149
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
2
URL has been copied successfully!
Market Insight
Mount Waverley is a premium, family-centric suburb characterised by strong demand from high-income professionals drawn to its top-tier schools and established neighbourhoods. This demographic is driving consistent, albeit modest, price growth in a market with low stock and competitive sales volumes. Future performance is underpinned by its enduring appeal to families and planned transport upgrades, though high entry prices and sensitivity to interest rates present notable constraints on affordability and accessibility.
URL has been copied successfully!
PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
2
Land
712m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!