G11/8 Burrowes Street, Ascot Vale VIC 3032
G11/8 Burrowes Street, Ascot Vale VIC 3032
Ground-floor modern apartment | 2 bed 2 bath 1 car | Built 2010 | Flood overlay noted | $725/week rental estimate
This property is positioned within a modern low-rise apartment building completed around 2010, placing it ahead of much of Ascot Vale’s older villa stock. A ground-floor layout is indicated by the unit prefix, and this is typically associated with easier access and direct courtyard appeal. The two-bedroom, two-bathroom configuration with secure parking is a practical floorplan for owner-occupiers and investors alike. Stone benchtops, stainless appliances, and split-system climate control are consistent with a solid contemporary finish. First-home buyers, downsizers, and investors are best served, given the low-maintenance character and proximity to the Union Road activity precinct.
A flood overlay is noted on the property, which may affect insurance premiums and lender appetite. Ground-floor apartments might trade some privacy and light compared with higher levels, though courtyard access can offset this. Body corporate fees and shared title costs should be weighed. Solar access and outlook are best confirmed directly, as they may shape perceived value.
Detailed Independent Property Report prepared by PropCred Analyst team for G11/8 Burrowes Street, Ascot Vale VIC 3032
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
Execution Risk
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Market Insight
Ascot Vale, six kilometres from the CBD, is a tightly held inner-Melbourne market where demand is led by professionals aged 30–39, drawn to its heritage stock, riverside parklands and transport links. House prices sit at $1.32 million, with compound growth of 3.1% annually, though recent sources show flatter momentum (0.3–2.3% yearly growth). Units median $517,000, down 1.5% over the year. Houses take 54 days to sell, up 20% from last year, and sales volumes have fallen 14%, while unit sales are down 28%, signalling cooler conditions. Gross yields remain modest—around 4.9% for houses and 5.1% for units—reflecting firm rental demand. Future growth drivers include proximity to the CBD and a professional buyer pool, but affordability is a key constraint: prices are well above Melbourne’s $974,000 median, and declining transaction activity points to softer demand.
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PropCred Estimated Value
Comparable Sales: 104/8 Burrowes Street at $537,000; 207/8 Burrowes Street at $546,500 | Property Price Band: $500,000-$600,000 | Value Drivers: ground-floor courtyard access, modern 2010 finishes, 2/2/1 layout
Bedrooms
2
Bathroom
2
Parking
1
Land
2585m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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