38 Scenic Road, Highton VIC 3216
38 Scenic Road, Highton VIC 3216
Large land in established street | 3-bed with compact living | Long-hold neighbourhood | Priced below recent sales
This property presents a clear land-value opportunity, offering a significantly larger allotment than newer listings in a street dominated by long-term holders. The spacious formal and secondary living areas provide functional separation, serving a buyer seeking a foothold in a stable area with future potential. It is best suited to an owner-occupier or long-term investor comfortable with a home that may require modernisation, capitalising on the substantial land component that recent comparable sales validate.
The primary risk is the dated internal configuration and modest building area, which may constrain immediate livability and appeal compared to renovated stock. The commercial logic lies in acquiring land at an effective discount, evidenced by the price guide sitting well below recent sales of properties on smaller plots. Acquire for long-term hold, leveraging the land bank in an area with demonstrated capital growth, with a view to future improvement or redevelopment.
Recent sales on Scenic Road demonstrate strong value support:
– 4 Scenic Rd (3/1/2): $816,000
– 279 Scenic Rd (3/1/2): $770,000
– 1/44 Scenic Rd (2/2/2): $760,000
These transactions, all on standard holdings, establish a firm price benchmark for three-bedroom homes in this location. The subject property’s guide of $600,000-$660,000 is notably positioned below this range, attributing a lower cost per square metre to the land and presenting a clear entry point.
Detailed Independent Property Report prepared by PropCred Analyst team for 38 Scenic Road, Highton VIC 3216
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Highton presents a well-established market with strong fundamentals, appealing to both first home buyers and investors. Demand is broad-based, supported by recent infrastructure enhancements and a notably undersupplied rental market, particularly for houses. Recent sales activity indicates robust momentum, though planned new supply remains insufficient to meet current demand levels. This persistent undersupply, coupled with interest rate sensitivity, represents the primary constraint on future affordability and growth.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
-
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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