7/307 Grange Road, Ormond VIC 3204
7/307 Grange Road, Ormond VIC 3204
1-bed apartment | 1 car space | shared 1,166 m² lot | sold $320,000 Nov 2022 | entry-level Ormond stock
This apartment is competitively positioned as an entry-level property within Ormond, a suburb where family homes dominate. Its configuration—a single bedroom, one bathroom, and a dedicated car space on a shared lot—is rare for the area and suits first-home buyers, downsizers, or investors seeking low-maintenance living near transport and shops. The prior sale at $320,000 in late 2022 suggests a price point that aligns with this buyer profile, and the shared lot context implies strata-style ownership, which typically reduces land value leverage but offers convenience. The property is best matched to those prioritising location over space, as its compact footprint limits family appeal but supports stable demand from singles or couples.
The value of this apartment may be influenced by its position within a multi-unit complex, where shared walls and common-area management can affect owner-occupier interest. The 1,166 m² lot suggests a newer or redeveloped site, but without confirmed building age or finishes, the property’s condition could either support or constrain its price relative to the prior sale. Buyers should weigh the trade-off between lower entry cost and potential for slower capital growth compared to detached homes, while also considering that a car space in this segment often strengthens rental appeal and resale liquidity.
Detailed Independent Property Report prepared by PropCred Analyst team for 7/307 Grange Road, Ormond VIC 3204
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
2
Execution Risk
1
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Market Insight
Ormond’s position as an inner-south suburb with excellent transport links and strong school catchments underpins its appeal to families and professionals. Demand is driven by owner-occupiers seeking lifestyle and proximity to employment hubs, while investors are active in the unit market due to higher yields. Recent house price trends show variability with some softening, reflecting broader rate sensitivity, though the unit segment demonstrates stronger momentum. Future growth is supported by consistent rental demand and limited supply, though high entry prices and interest rate exposure present ongoing affordability constraints.
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PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
1
Land
1166m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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