48 Murray Street, Fawkner VIC 3060
48 Murray Street, Fawkner VIC 3060
3-bed older house | sizeable block | north-facing courtyard | renovate or rebuild scope | established Fawkner pocket
A solid single-level detached house is presented on a sizeable block, offering a genuinely flexible footprint in a well-settled suburb. The north-facing courtyard and functional three-bed, one-bath layout are provided for immediate liveability, while the underlying land is given optionality for renovation, extension, or complete rebuild, subject to planning approval. The strongest appeal is likely found with owner-occupiers and renovators seeking a family-scale home with space to adapt over time, rather than buyers wanting a turnkey finish. The property’s older but serviceable condition is seen as an opportunity, not a limitation, for those prepared to invest sweat equity or capital.
The property’s value may be affected by the condition of its dated finishes, with capital expenditure possibly required before modernization is achieved. Renovation or redevelopment potential might be constrained by planning controls, and demand for older stock could be softened by the evolving mix of newer infill dwellings nearby. A premium may be offered for the north-facing aspect and block dimensions, but the outcome is dependent on execution.
>> Comparable Sales: 42A Murray Street (similar house) and 1/60 Murray Street (recent townhouse sale) | Property Price Band: $600,000–$700,000 | Value Drivers: land size, renovation scope, north-facing courtyard
Detailed Independent Property Report prepared by PropCred Analyst team for 48 Murray Street, Fawkner VIC 3060
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
2
Execution Risk
2
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Market Insight
Fawkner is a middle-ring northern Melbourne market defined by steady family demand, with owner-occupiers driving activity and 44% holding mortgages. Median house prices range from $772,541 to $883,000 across sources, posting 6.4–7.3% annual growth, supported by 225–266 sales per year. Units have outperformed, rising 18% year-on-year to roughly $630,000, with gross yields of 4.4–4.7% versus houses at 3.5–3.8%. Weekly rents sit at $550–570 for houses and $500–520 for units. Demand is anchored by proximity to north Melbourne employment hubs, the Mernda line, and Ring Road access, with average school options playing a supporting role. Growth drivers include consistent turnover and infrastructure connectivity, but affordability pressures, interest-rate sensitivity-days on market stretching to 50-and uneven unit supply remain key constraints.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
2
Land
250m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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