54/29 Wells Road, Chelsea Heights VIC 3196
54/29 Wells Road, Chelsea Heights VIC 3196
2 bedrooms, 1 bathroom, 2 undercover parking spaces. Built 1989 within a 3.29-hectare retirement lifestyle estate. Estimated value $790,000–$840,000. Listed as a villa in a dedicated aged-care village – a niche configuration in a suburb dominated by 3-bedroom family houses.
Two dedicated parking spaces and the lifestyle village setting are competitively rare for a villa of this age and size. The property is positioned within a secure, community-focused estate with on-site amenities, serving retirees seeking convenience and social connection over typical suburban family housing. Its value premium over standard houses in the area reflects this targeted lifestyle offering and the scarcity of similar villas in the village itself.
The property’s age – 1989 construction – may affect ongoing maintenance requirements or update costs that a buyer should weigh against the purchase price. Because it is part of a retirement village, the buyer pool is restricted to older purchasers, which could limit market depth and influence how quickly a sale might occur. Village‑level occupancy rates or leasehold terms may also shape long‑term value.
Detailed Independent Property Report prepared by PropCred Analyst team for 54/29 Wells Road, Chelsea Heights VIC 3196
Checks found:
Value Risk
!
1
Liquidity Risk
✕
2
Planning Risk
✕
2
Income Risk
✕
2
Execution Risk
✓
Market Insight
Chelsea Heights is a family-oriented suburb with a stable, owner-occupier base, where demand is currently driven by buyers anticipating future growth ahead of significant infrastructure investment. Recent price trends show a healthy market with consistent capital growth, particularly for units, though the market exhibits some sensitivity with auction clearance challenges. Future growth is underpinned by ongoing area transformation, while key constraints include relative affordability pressures and a market dynamic where sellers are not compelled to discount.
PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
2
Land
3.29 ha
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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