38 Bursaria Drive, Caroline Springs VIC 3023
38 Bursaria Drive, Caroline Springs VIC 3023
Compact 4-bed house | 270m² block | Alarm, heating, remote garage | 3.5% gross yield | Family-focused suburb
The property competes as a tidy, low-maintenance family house on a compact 270m² block, a format typical of newer estate housing rather than older large-lot suburban stock. Its four-bedroom, two-bathroom layout suits growing households, and the internal area of 142m² is efficient without feeling cramped. The included alarm system, heating, and remote garage add everyday convenience, making this a practical choice for first-time family buyers or investors after steady rental demand. Within Caroline Springs, it sits comfortably amid the suburb’s family-oriented character, appealing most to those who value modern, manageable surroundings over expansive outdoor space.
The compact land component may limit long-term price appreciation relative to larger blocks, while the newer estate context might support a modest premium. The lack of a verified premium school zone could be a deciding factor for some buyers, and the estimated rental yield of around 3.5% may not excite high-yield investors. Opportunity might arise if the estate continues to develop, improving street appeal and local amenity. These factors should be weighed carefully when forming a view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 38 Bursaria Drive, Caroline Springs VIC 3023
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
2
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Market Insight
Caroline Springs is a well-established family suburb where houses, not units, drive the market. Demand is led by higher-income households—median incomes run 12.3% above Greater Melbourne—and a 3:1 buyer-to-listing ratio. Houses sell in as little as 22 days, with 60 houses sold against 9 units in the past quarter. The median house price sits near $785,000–$790,000, showing annual growth of 5.4%, though unit prices have slipped up to 8%. Rental appetite is firm: house rents are up 5.9% and unit rents 8.0%. Future growth hinges on limited supply and local retail infrastructure, while the key constraint is rate sensitivity, reflected in a 59.8% auction clearance rate.
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PropCred Estimated Value
Comparable Sales: 31 Damaine Circuit sold for $800k in Aug 2025 | Property Price Band: $850k–$950k | Value Drivers: condition, compact land size, family-friendly layout
Bedrooms
2
Bathroom
1
Parking
1
Land
134m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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