6 Andrew Street, Springvale VIC 3171
6 Andrew Street, Springvale VIC 3171
Five-bedroom house on 577m² | approved three-townhouse site | a few doors from Killester College | walk to station and shops | redevelopment-led value
The property’s competitive strength is its combination of a five-bedroom footprint with a 577m² parcel that already holds an approved three-townhouse development pathway. That places it beyond standard family-stock comparisons and makes it most suited to a small-scale developer, an investor wanting to hold and build later, or a multi-generational household that can use the existing house while planning ahead. Its position near Killester College, the shopping centre, train station, and medical clinics gives it genuine walkability, which tends to support both rental appeal and resale depth. In a suburb where land-led opportunities are sought after, this house is being sold primarily for its future options rather than its current finishes.
The existing timber dwelling’s condition may have limited owner-occupier appeal, and the lack of any car spaces might narrow some family interest. The specific details of the townhouse approval, such as unit mix, open space, and any conditions attached, could meaningfully affect how a buyer prices the site. The street’s character and the property’s orientation may also influence its development ease. Buyers should weigh the cost and timeline of either renovating now or pursuing the approval, as those choices shape what the land effectively delivers.
Detailed Independent Property Report prepared by PropCred Analyst team for 6 Andrew Street, Springvale VIC 3171
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
Springvale, a young, culturally diverse suburb in Melbourne’s south-east, is drawing demand from owner-occupiers and investors seeking relatively affordable houses. House prices have climbed 8.3–11.3% annually to a median of $905,000–$939,000, with sales volumes up to 283 and selling times compressing to 45–52 days. Units lag badly, with prices flat to slightly negative (0.8–0.89% growth) while unit rents yield 4.8%. Future growth rests on continued house scarcity and buyer preference for low-maintenance stock; key risks are potential unit oversupply, affordability constraints for first-timers, and interest-rate sensitivity given the rapid price run.
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PropCred Estimated Value
Comparable Sales: 9 Andrew Street sold $922,200; 6 View Road sold $1,501,000 | Property Price Band: $1.0M–$1.1M | Value Drivers: approved permit status, land size, proximity to station and school
Bedrooms
3
Bathroom
3
Parking
1
Land
568m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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