9 Lee Street, Warrnambool VIC 3280
9 Lee Street, Warrnambool VIC 3280
New 2024 build | 640m² | 4 bed 2 bath | premium finishes throughout | caravan/boat parking potential
This property stands apart from typical Warrnambool stock due to its recent construction and the level of specification rarely found in the local market. The 900mm oven, stone waterfall island, and freestanding bath signal a display-home standard that typically commands attention from buyers seeking move-in-ready quality without renovation risk. The wide block access accommodating a caravan or trailer adds practical versatility that many family homes lack, while the north-west aspect ensures the main living area captures afternoon sun. This house serves families wanting contemporary comfort, low maintenance, and space for recreational vehicles—a combination that positions it strongly against older, character-heavy alternatives in the suburb.
The newer build age and premium interior finish may support a price premium over established homes, though the 640m² block sits within the standard range for family housing, limiting scarcity value from land alone. The lack of water views or prestige positioning means the value proposition relies heavily on build quality and presentation rather than location uniqueness. Buyers should weigh the benefit of a near-new property against potential landscaping costs or neighbourhood development still underway, as the surrounding area may not yet have fully matured. The extra garage width and storage flexibility might appeal to a narrower buyer pool, which could influence negotiation dynamics.
Detailed Independent Property Report prepared by PropCred Analyst team for 9 Lee Street, Warrnambool VIC 3280
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
2
Income Risk
Execution Risk
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Market Insight
Warrnambool is positioned as a balanced regional city, with population tracking toward 41,000 and an expected 2,700 new homes over two decades. Demand is underpinned by strong renter interest across South West Victoria, with vacancy under 1% and limited rental stock. House prices have lifted to roughly $618,000–$635,000, with annual growth between 6.2% and 7.6%; units sit around $457,500–$468,450, growing near 7%. Houses sell in about 32 days, with weekly rents of $600 for houses and $450 for units, delivering gross yields around 5.3% on units. Annual house sales of roughly 550 indicate stable turnover. Future growth is supported by community-backed development aimed at preserving the coastal country town character, while transport and green space infrastructure are flagged as priorities. Key constraints include modest near-term housing approvals and a strong preference to protect rural land, which will keep supply tight relative to demand.
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PropCred Estimated Value
Comparable Sales: 9 Gall Street sold June 2025 for $780,000; 9 William Street listed at $640,000 | Property Price Band: $700,000–$800,000 | Value Drivers: new build condition, premium kitchen/bathroom finishes, wide block access for vehicles
Bedrooms
4
Bathroom
2
Parking
2
Land
640m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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