87 Drew Street, Spalding WA 6530
87 Drew Street, Spalding WA 6530
5-bed layout | 791sqm lot | 1977 build | family/investor demand | one-bath constraint
A five-bedroom layout is provided on a 791 sqm lot, with a 344 sqm footprint that is uncommon for typical three-bedroom local housing. The property is located in the Bluff Point Primary intake area, with an established character matching the era of surrounding homes. This house serves larger families or investors, as extra bedrooms are positioned for higher-occupancy demand. The single bathroom is recognised as a constraint, but the generous floor plan is considered workable.
The value may be affected by the presence of only one bathroom, which might be considered a limiting factor for families. The 1977 build age might be viewed as older stock, although no bushfire, flood, or heritage overlays have been detected, which could be assessed as a planning positive. The high building coverage of 44% might be seen as reducing future extension options, so the price may be determined more by the existing five-bedroom layout and the established location than by land value alone.
Detailed Independent Property Report prepared by PropCred Analyst team for 87 Drew Street, Spalding WA 6530
Checks found:
Value Risk
✕
2
Liquidity Risk
✕
2
Planning Risk
✓
Income Risk
✓
Execution Risk
✕
2
Market Insight
Spalding, a regional suburb within the Geraldton area, is trading at a median house price of $410,000, well below the state average of $821,931, with houses selling in a median five days. Demand is driven primarily by Eastern States investors seeking better value as Geraldton prices climb, replenishing rental supply in a tightening market. Prices have grown sharply, with annual gains reported between 26 and 31 percent, supported by 59 to 67 house sales over the past year. Rental demand remains firm, with median weekly house rent at $480. The dominant buyer cohort appears to be investors, while the local population contracted four percent in the last census, suggesting limited organic household formation. Future growth hinges on continued investor appetite and supply constraints, but the suburb’s reliance on investment capital and its narrower buyer base present concentration risks, particularly if rate sensitivity or a correction in regional sentiment emerges.
PropCred Estimated Value
Comparable Sales: 65 Drew Street sold $456,000 (3-bed, 1978) | Property Price Band: $500K-$600K | Value Drivers: bedroom count, land area, presentation
Bedrooms
5
Bathroom
1
Parking
-
Land
791m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst