This article delves into the specifics of 2 Versace Court, Pakenham, VIC 3810, a property that, while seemingly modest in its address, offers a fascinating case study within the broader Pakenham real estate market. We will explore its characteristics, its sale history, and contextualize it within the surrounding neighborhood, using available data and drawing comparisons to similar properties in the area. The information provided will serve as a comprehensive overview, aiming to paint a picture of what makes this particular address unique and valuable.
Property Details: 2 Versace Court, Pakenham, VIC 3810
The subject property, 2 Versace Court, Pakenham, boasts a land size of 368 square meters. This relatively compact footprint is common for many properties within established suburban areas like Pakenham, reflecting the density of development in the region. The house itself comprises three bedrooms and two bathrooms, making it suitable for a family or a group of individuals. The inclusion of two parking spaces is a valuable asset, particularly given the increasing reliance on private vehicles in suburban Australia. The sale price of $498,000 in 2021 provides a benchmark for understanding the market value at that time, allowing for comparisons with current pricing trends. The agent responsible for the sale was Noel (surname unavailable). This information serves as a solid foundation for our further analysis.
Market Context: Pakenham Real Estate
Pakenham, located in Victoria, Australia, has experienced significant growth in recent years. This growth is reflected in the robust real estate market, characterized by increasing property values and high demand. Factors contributing to this growth include improved infrastructure, proximity to Melbourne, and the development of new housing estates. Understanding the broader Pakenham real estate market is crucial for accurately assessing the value and potential of 2 Versace Court. The availability of comparable properties within the Versace Court street, and more broadly within Pakenham, allows for a comprehensive comparison of property features, sale prices, and overall market trends. Analyzing these comparative properties provides a deeper understanding of the factors influencing property prices in the area, such as land size, number of bedrooms and bathrooms, and the overall condition of the property.
Comparative Analysis: Similar Properties in Pakenham
While specific details for directly comparable properties might require accessing real estate databases (information not provided in the prompt), we can conceptually explore the potential comparisons. Properties with similar land sizes, bedroom and bathroom configurations, and located within a close proximity to 2 Versace Court would serve as the most relevant comparisons. Factors to consider include:
* Land size: Properties with land sizes slightly larger or smaller than 368 square meters would provide a benchmark for understanding the price premium or discount associated with land area.
* Number of bedrooms and bathrooms: Comparing properties with variations in the number of bedrooms and bathrooms helps determine the impact of these features on property value. A four-bedroom property might command a higher price, while a smaller two-bedroom property might be more affordable.
* Property condition: The overall condition of the property, including renovations, upgrades, and the presence of any significant issues, significantly impacts its value.
* Location within Pakenham: Proximity to schools, parks, shopping centers, and transportation links can influence property values. Properties closer to desirable amenities typically fetch higher prices.
By comparing 2 Versace Court to similar properties, we can gain insights into its strengths and weaknesses relative to the market. This comparative analysis allows for a more informed assessment of the propertyβs value and its position within the Pakenham real estate market.
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