4/8-10 Forrest Avenue, Newhaven VIC 3925
4/8-10 Forrest Avenue, Newhaven VIC 3925
2-bed unit, 1 bath, no car space | Compact coastal apartment | Newhaven mix of houses and lifestyle parcels | Low-maintenance entry point | Foreshore proximity in demand area
This is a compact two-bedroom unit in a small complex, sitting well below the typical Newhaven house-and-land offering. Its strength lies in affordability and simplicity—a low-maintenance coastal base for a first buyer, downsizer, or investor seeking exposure to the area without the cost or upkeep of a detached house. The location, close to foreshore and recreational amenity, supports steady interest from lifestyle buyers and holiday users, making it a practical entry into a market where larger parcels dominate.
Value may be shaped by the absence of dedicated parking and the unit’s limited private outdoor space, which could narrow appeal compared to houses on larger lots. The sale price was withheld, so market positioning relies on nearby unit transactions; the 2/1 format typically attracts renters or part-time occupants, so condition and presentation will matter most. Any renovation or modernisation could lift its competitive edge, but its smaller footprint may cap upside relative to detached stock.
Detailed Independent Property Report prepared by PropCred Analyst team for 4/8-10 Forrest Avenue, Newhaven VIC 3925
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
1
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Market Insight
Newhaven, on Phillip Island in VIC 3925, is a micro-market of just 449 residents. Predominant age 50-59, with professionals and managers common, indicating a mature, higher-income demographic. Population grew 21.8% from 2011 to 2016, but demand is thin: only five house sales in the past year. Median house price sits at $617,700, down 13.6% annually, a sharp correction. Rental demand is tight with zero vacancies, and a three-bedroom house rents for $480 a week. Future growth hinges on broader Victorian supply constraints and lifestyle migration, but limited recorded sales mean price assessments are volatile. Key risk is further price softening in a low-liquidity environment.
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PropCred Estimated Value
Comparable Sales: 1/8-10 Forrest Avenue sold $650,000, 2-bed unit; 8 Wencliff Court sold $609,000, 5-bed house | Property Price Band: $500K–$600K | Value Drivers: interior condition, complex quality, proximity to foreshore
Bedrooms
2
Bathroom
1
Parking
-
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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