57 Harrington Terrace, St Leonards VIC 3223
57 Harrington Terrace, St Leonards VIC 3223
4-bed family house | 448m² block | near-new coastal pocket | strong rental demand | school catchment
This property sits in a quiet, family-oriented pocket of St Leonards where modern detached houses on compact blocks are the established norm. The 448m² allotment is slightly larger than much of the immediate stock, which gives it a practical edge for families wanting a manageable yard without the upkeep of a bigger block. The configuration aligns with what the local market clearly wants—four bedrooms, two bathrooms, and double car accommodation—and the street’s recent building pattern suggests a consistent, contemporary finish throughout. For an owner-occupier family, particularly one with primary-school-aged children, this is a straightforward fit. The rental profile also holds appeal for investors, given the steady demand for four-bedroom family homes in this part of the Bellarine Peninsula.
The value picture here is shaped by a few things. The condition and internal presentation will matter most, as buyers in this price range tend to compare finishes and layout efficiency rather than land size alone. The single-level format is likely to be a positive for downsizers and young families alike, though it may limit appeal for those seeking a second storey or separate living zones. The property’s position within the street and its proximity to the school and town centre could support a slight premium, but the compact block size and the absence of any standout outdoor feature may cap that. Buyers should weigh the quality of the build and how well the interior has been maintained when forming a view on price.
|| Comparable Sales: 27 Harrington Terrace sold $765k Feb 2023; 18 Harrington Terrace sold 2021 | Property Price Band: $700k–$800k | Value Drivers: condition and finish, block size relative to street, single-level layout appeal
Detailed Independent Property Report prepared by PropCred Analyst team for 57 Harrington Terrace, St Leonards VIC 3223
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
Execution Risk
1
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Market Insight
St Leonards faces east across Swan Island to the heads, with bay views toward Melbourne on clear days. Demand is driven by a mature cohort: 43% of residents are aged over 60, mostly outright owners in detached houses, with professionals over-represented. House prices sit near $735,000–$764,000, down 2.1% over the year, while units have fallen 5.6% to around $588,750. Selling times are lengthy, with houses averaging 91–100 days on market. Rental conditions are firmer: house rents rose 6.7% to $480–$500 weekly, and gross yields sit at 3.7%—modest but steady. Yet the fundamental imbalance is one of supply: 156 properties were listed last month against 157 sales over the past year, and a Boomscore of 33/100 confirms stock outstrips demand. That overhang, combined with rate sensitivity among older, asset-rich but income-limited buyers, means price growth will remain constrained until inventory clears; sellers must be realistic on pricing.
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PropCred Estimated Value
Comparable Sales: 27 Harrington Terrace sold $765k Feb 2023; 18 Harrington Terrace sold 2021 | Property Price Band: $700k–$800k | Value Drivers: condition and finish, block size relative to street, single-level layout appeal
Bedrooms
5
Bathroom
2
Parking
2
Land
400m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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