This article delves into the details surrounding 1 Burberry Lane, Deer Park, VIC 3023, a recently sold property offering a glimpse into the Deer Park real estate market. While specific details regarding the seller and internal features beyond the basic specifications are unavailable for privacy reasons, we can analyze the property based on its known attributes and compare it to the broader Deer Park housing landscape. The sale of this property provides valuable data points for understanding property values and market trends in this increasingly popular suburb.
Property Overview: 1 Burberry Lane, Deer Park, VIC 3023
Located at 1 Burberry Lane, Deer Park, VIC 3023, this property boasts a land size of 334 square meters. This relatively modest block size is typical for many homes in Deer Park, reflecting the density of the suburb and the balance between living space and outdoor area. The house itself comprises four bedrooms and two bathrooms, catering to a family or individuals seeking ample living space. The inclusion of two parking spaces is also a significant advantage, particularly in a suburb where off-street parking can be at a premium.
The property's sale price of $650,000 in 2024 provides crucial insight into the Deer Park market. This figure allows for a comparative analysis with other recently sold properties in the area, helping to establish market trends and identify potential factors influencing property values. While the exact internal features and condition of the property are not publicly available, the sale price suggests it likely met market expectations based on its size, location, and amenities.
Deer Park Real Estate Market Analysis
Deer Park's real estate market has experienced significant growth in recent years, driven by various factors including its proximity to Melbourne's CBD, improved infrastructure, and the increasing appeal of its family-friendly environment. The suburb's strategic location provides easy access to major arterial roads, public transportation, and a range of amenities, including schools, parks, and shopping centers. This accessibility makes Deer Park an attractive option for both young families and professionals seeking a balance between urban convenience and suburban tranquility.
The median house price in Deer Park fluctuates, but generally trends upwards. Comparing the sale price of 1 Burberry Lane to the median house price in Deer Park during 2024 provides a benchmark for understanding the property's value relative to the broader market. Factors such as the property's condition, renovations, and specific features (e.g., updated kitchen, modern bathrooms) can all influence its sale price and deviate from the median.
Analyzing comparable properties sold in the vicinity of 1 Burberry Lane is crucial for gaining a deeper understanding of the property's value. Properties with similar land sizes, bedroom and bathroom configurations, and proximity to amenities can be used to create a comparative market analysis. This analysis helps to identify potential over or under-valuation and provides a clearer picture of the market dynamics at play.
Factors Influencing Property Value in Deer Park
Several factors influence property values in Deer Park, and understanding these is vital for anyone considering buying or selling in the area. These factors include:
* Location: Proximity to schools, parks, shopping centers, and public transport significantly impacts property value. Properties closer to desirable amenities generally command higher prices.
* Property Size: Larger land sizes and floor areas typically translate to higher property values. However, the layout and functionality of the space also play a crucial role.
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