73 Fairfax Street, Portarlington VIC 3223
73 Fairfax Street, Portarlington VIC 3223
Character home near retail hub | 675m² lot in coastal town | 3 beds, 1 bath | Recent market listing
This property presents a competitively strong land position within a short walk of Portarlington’s retail and dining core, a functional rarity that underpins its value. The 675-square-metre lot offers tangible future flexibility in a coastal township where larger parcels are increasingly scarce. This house serves the buyer seeking a permanent coastal lifestyle or a long-term hold, with its character appeal and proximity to the ferry enhancing its desirability in a specific buyer segment focused on amenity over modern finishes.
Your decision hinges on reconciling the premium for location against the cost of modernisation, as the single bathroom and unspecified building condition impose a clear risk of immediate capital outlay. The opportunity exists in leveraging the substantial lot size, where the commercial logic supports a future improvement or subdivision subject to zoning. Acquire this as a long-term lifestyle property with a view to incremental upgrades, not a short-term speculative play.
Sales history indicates significant capital growth: a sale at $355,000 in 2015, followed by a sale at $469,000 in October 2017. This past performance, while not indicative of future results, demonstrates the property’s established trajectory within the market prior to the recent broader price increases.
Detailed Independent Property Report prepared by PropCred Analyst team for 73 Fairfax Street, Portarlington VIC 3223
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
Portarlington presents as a coastal Bellarine Peninsula market undergoing a clear correction, with house and unit prices experiencing significant declines over the past year. Demand is tempered, evidenced by extended selling periods and a notable portion of owner-occupiers, including single-person households. While rental yields offer a relative buffer, the market faces headwinds from softening values and limited immediate infrastructure catalysts, suggesting a period of consolidation ahead.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
675m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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