HOMESCORE REPORT

5 Gibbs Street, Balaclava, Vic 3183

House

221 sqm

4

3

1

1

West

No

$1,900,000 - $2,050,000

Auction

In Summary

5 Gibbs Street is a good example of a cleverly designed family home working within the constraint of space, though you would also have to ask yourself how much space you need. It suits a young family: transit into the city is as good as it gets, the layout captures every ray of sunshine through the day, and the zoning lets you live day to day without standing on top of each other. Buyers will find it somewhat difficult to price. The only way I found to do so is by way of a land plus build calculation, as the only comparables on compact land sit on the Elwood side of Brighton Road and carry the expected premium.

POSITION RISK

From a risk perspective, this is probably the better position to be in. Surrounded by heritage overlays, build out risk is low. Houses in the street might get renovated at some point, but that is a good thing given the streetscape currently is not the best, far from the worst either.

Dwelling & Land Use

The house is close to brand new and not much of the original has survived. It sits well on the block, with no wasted land at the front and access from both sides, though side access is limited. The landscaping at the rear needs to mature further to prevent some slight overlooking, but that is fixable and shouldn't deter anyone for whom this home is a fit.

Energy Efficiency & Natural Light

This is where the house shines, and finally I get to sing some praises in this category. Being just completed, it should be built to the new 7 star standard, and double glazing throughout is a big plus as well as the most costly upgrade of its kind. I would have loved to see solar and hydronic heating, but it looks and feels like a good envelope, so temperature regulation shouldn't be a costly exercise. Solar would be a straightforward upgrade; hydronic heating outside the bedrooms might prove challenging, because almost every square inch of the house has been put to good use.

Compared to similar

Looking at recent sales in the area over the past six months, 5 Gibbs Street stands almost alone for a near flawless period renovation on a compact block. Fixtures and fittings are, well, fitting. Not over the top, but good enough that they should stand the test of time. If I had to find a complaint, it would be that the sliding door to the garden is not top-hung, and that is such high level complaining I almost feel unreasonable.

20 Minute Transit Radius

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Floor Plan

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