343 Koornang Road, Ormond VIC 3204
343 Koornang Road, Ormond VIC 3204
corner block 664sqm | five-bedroom layout with three bathrooms | 249sqm building footprint | zoned for McKinnon Primary and Glen Eira College
The propertyโs corner configuration and 664sqm lot create a rare positional edge in Ormond, offering dual street frontage and potential for future subdivision or dual occupancy under current Glen Eira zoning. The five-bedroom, three-bathroom layout with a 249sqm building footprint suits a multi-generational family or owner-occupier seeking space without immediate renovation, while the McKinnon Primary and Glen Eira College catchment strengthens long-term demand. For a buyer, this is a hold-and-enjoy proposition with latent land value.
The circa 1989 build with 1970s styling may require structural updates, and the 38% site coverage leaves limited room for extension without council approval. The conflicting lot sizes (664sqm vs 609sqm) demand a title survey before exchange. The 8m roof height and 40m ground elevation offer no flood risk but limit upper-level additions. Best held as a family home or land bank, with subdivision feasibility assessed post-purchase.
Independent, Unbiased Research Report for this property by PropCred Analyst teamย
Market Insight:
Ormondโs position as an inner-south suburb with excellent transport links and strong school catchments underpins its appeal to families and professionals. Demand is driven by owner-occupiers seeking lifestyle and proximity to employment hubs, while investors are active in the unit market due to higher yields. Recent house price trends show variability with some softening, reflecting broader rate sensitivity, though the unit segment demonstrates stronger momentum. Future growth is supported by consistent rental demand and limited supply, though high entry prices and interest rate exposure present ongoing affordability constraints.