34/201 Wellington Parade S, East Melbourne VIC 3002
34/201 Wellington Parade S, East Melbourne VIC 3002
3/2/2 apartment | prestige East Melbourne | families & downsizers | secure parking & pool | event-day congestion
A rare configuration is offered by this three-bedroom, two-bathroom, two-car apartment in an East Melbourne pocket where one- and two-bedroom stock prevails. Its inclusion in a 1990s complex with pool, gym and community room is regarded as an above-standard amenity package. The leafy, tightly held streets near Wellington Parade South are understood to signal prestige, with the MCG, Fitzroy Gardens and the CBD within easy reach. This property is targeted toward downsizers, executives and empty nesters who need serious space and secure parking, and it also suits investors looking for a stable, low-turnover rental profile.
Value may be influenced by the unit’s specific level and outlook, which are not yet confirmed and could vary significantly between positions. A considerable role is likely to be played by interior finish and the overall condition of shared facilities. Event-day noise and congestion from the nearby MCG might also be factored into price decisions. These variables may lead to a settlement price either above or below the general 3-bedroom range.
Detailed Independent Property Report prepared by PropCred Analyst team for 34/201 Wellington Parade S, East Melbourne VIC 3002
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
2
Execution Risk
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Market Insight
East Melbourne remains an exclusive inner-city enclave, yet its market is bifurcated. Professionals aged 30–39 dominate demand, but affordability is pivoting buyers toward units, where the median is $702,900 after a 7.9% annual decline, versus houses at $3,050,000 after an 18.7% slump—one source puts that fall at 31%. Rents remain robust at $1,100 weekly for houses and $623 for units, with a 4.0% unit yield supported by Melbourne’s tight 1.3% vacancy. Supply constraints persist, with advertised stock 21% below the five-year average, limiting downside. Still, high house prices keep that segment acutely rate-sensitive, while the unit market looks better insulated.
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PropCred Estimated Value
Comparable Sales: 32/201 Wellington Parade South sold at $2.6M | Property Price Band: $1.6M-$1.7M | Value Drivers: secure parking, amenities, outlook
Bedrooms
3
Bathroom
2
Parking
2
Land
3147m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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