81/503 Orrong Road, Armadale VIC 3143
81/503 Orrong Road, Armadale VIC 3143
3-bed, 2-bath, 2-car apartment | Armadale owner-occupier pocket | School-catchment strength | Premium product, mid-range guide
This unit holds a genuinely useful configuration for Armadale: three genuine bedrooms, two bathrooms and two car spaces in a suburb where owner-occupiers dominate and turnover is low. That combination serves downsizers and professional families well, particularly those prioritising school zones and walkable access to High Street, Glenferrie Road and public transport. Being inside a multi-unit complex on Orrong Road, the property is understood to offer secure, low-maintenance living without the trade-offs of a period house. The price guide positions it conservatively within its own complex, which may reflect presentation, floor level or aspect rather than any broader weakness in the location. The strong owner-occupier character of the area supports durable demand, and the catchment pairing with Armadale Primary and Prahran High adds meaningful appeal for family buyers.
Value may be shaped by the specific floor level, natural light and outlook, none of which are confirmed from listing detail alone. The quality of the internal fit-out and the condition of common areas could also influence how the property compares against similar units nearby. Buyers should weigh the age of the building, strata fees and any upcoming capital works, as those items affect holding costs more than location. Orientation and balcony usability might matter more here than in a detached house, given apartment living relies on those features. The 2011 last sale date suggests limited turnover, which may indicate a stable complex.
Detailed Independent Property Report prepared by PropCred Analyst team for 81/503 Orrong Road, Armadale VIC 3143
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
Income Risk
Execution Risk
1
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Market Insight
Armadale remains a tightly held inner-city market, with units comprising roughly 75% of its housing stock. Demand is driven by affluent professionals aged 30–39, whose high household incomes underpin a premium price point. House prices have softened, with medians near $2.34–$2.35 million and annual falls of 4.0–5.65%; units have corrected harder, down 4.9–9.6% to about $665,000. House selling times compressed to 54 days, down 36.5% year-on-year, but unit days on market stretched to 88, up 22.2%. Clearance rates are fragile at 53.7%, down 26.5%, pointing to patchy buyer demand. Rental performance provides some support: median house rents are $1,100 per week, up 15.8%, while unit yields sit near 4.5%, although one source puts all-residential yield at 3.77%. Sales volumes remain thin at roughly 80–97 house transactions annually, complicating price discovery. No clear near-term growth drivers emerge; the dominant constraints are affordability stress, negative annual appreciation, weak clearance momentum, and rising unit inventory.
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PropCred Estimated Value
Comparable Sales: 71/503 Orrong Road marketed $1.4M–$1.5M; 1.05/608 Orrong Road with secure parking and store | Property Price Band: $1.2M–$1.3M | Value Drivers: floor level, internal condition, natural light and outlook
Bedrooms
2
Bathroom
2
Parking
-
Land
1533m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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