605/119 Abeckett Street, Melbourne VIC 3000
605/119 Abeckett Street, Melbourne VIC 3000
Level 6 two-bedder | 2023 tower | no car space | Carlton Gardens & University High zone | solid yield
This two-bedroom apartment is positioned as a modern, low-maintenance unit within a 65-level residential tower. The building’s recent completion is considered a defining advantage, offering contemporary finishes and access to a full suite of amenities. The designated school catchments, including Carlton Gardens Primary and University High, are regarded as a strong draw for families, while the central CBD location sustains steady rental demand from students and professionals. It is best suited to investors and first-home buyers seeking a compact, city-centric property with minimal upkeep.
The level 6 floor position may limit direct sunlight and outlook, which might be perceived as a constraint by some buyers. The absence of a car space could be mitigated by proximity to public transport, but it may narrow the buyer pool. Capital growth might be tempered by supply competition within the CBD apartment market, though strong rental yields and a modern build could support pricing. These factors should be weighed when forming a view on value.
Detailed Independent Property Report prepared by PropCred Analyst team for 605/119 Abeckett Street, Melbourne VIC 3000
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Melbourne 3000’s inner-city position, defined by strong walkability and established transport links to employment hubs, sustains broad demand from owner-occupiers, downsizers, investors, first home buyers, students, and returning professionals. This diverse pool is met with constrained supply, evidenced by a tight vacancy rate of 1.3% and robust sales activity up 9.8% year-on-year. House values sit at $977,579 with 5.5% annual growth, while units record $642,431 and 2.7% growth, the latter highlighting relative affordability amidst shifting buyer preference. Rental fundamentals diverge sharply: houses yield 1.84% with a $650 weekly median, units yield a strong 8.00% with $675 weekly rents, underscoring investor focus on higher-density stock. Future drivers remain supportive—population growth, urban renewal, and scarcity of quality stock—but risks are mounting. New listings, up 17.5–18%, are easing supply tightness, while rate hikes and affordability pressures are softening buyer sentiment. Victoria’s land tax regime is a further drag on investor activity.
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PropCred Estimated Value
Comparable Sales: 1105/119 A’Beckett St, 1-bed, ~$459,000 | Listed Price Band: $500k–$600k | Value Indicator: level 6, no parking, modern condition
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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