18 Versace Court, Pakenham, VIC 3810, represents a slice of suburban life in the rapidly growing Pakenham region. This four-bedroom, two-bathroom house, boasting two parking spaces, offers a glimpse into the evolving property market of this increasingly popular Melbourne suburb. While specific details about the property's history and recent sale are limited, the available information allows for a comprehensive exploration of the address, its location, the broader Pakenham real estate market, and the factors influencing property values in the area.
The Property at 18 Versace Court:
While precise details about the internal layout, features, and recent renovations of 18 Versace Court are unavailable publicly, the knowledge that it's a four-bedroom, two-bathroom house with two car spaces provides a solid foundation for understanding its potential appeal. A four-bedroom house is generally suitable for families, offering space for children's bedrooms, a guest room, or a home office. Two bathrooms enhance convenience, particularly for larger households. The presence of two parking spaces is a significant advantage in many suburban areas, addressing the common need for off-street parking.
The estimated value of $670,000, with a range between $575,000 and $765,000, reflects the fluctuating nature of the real estate market. This valuation likely takes into account various factors, including the property's size, condition, features, location, and the current market demand in Pakenham. The range indicates the inherent uncertainty in property valuation, with several variables influencing the final price. A detailed property appraisal would be necessary to determine the precise value with greater accuracy.
Pakenham's Growing Appeal:
Pakenham's transformation from a rural town into a thriving suburban hub has significantly impacted its property market. Its proximity to Melbourne, coupled with improved infrastructure and amenities, has made it an increasingly attractive location for families and young professionals seeking a balance between suburban tranquility and city accessibility. The expansion of public transport, including train lines connecting Pakenham to Melbourne's central business district, has further contributed to its growth.
The development of new housing estates, shopping centers, and recreational facilities has transformed Pakenham's landscape, creating a vibrant community with a diverse range of amenities. This growth has naturally driven up property prices, making it a competitive market for both buyers and sellers. The availability of land for new developments also plays a significant role in shaping the area's property landscape. The ongoing construction of new homes and infrastructure continues to influence the supply and demand dynamics, impacting property values across the region.
Factors Influencing Property Values in Pakenham:
Several key factors contribute to the valuation of properties in Pakenham, including:
* Location: The specific location within Pakenham significantly impacts property value. Properties closer to amenities like schools, shopping centers, public transport, and parks generally command higher prices. The proximity to major roads and highways also plays a role, influencing commute times and accessibility.
* Property Size and Features: Larger properties with more bedrooms, bathrooms, and desirable features like pools, outdoor entertaining areas, and modern renovations typically attract higher prices. The overall condition and maintenance of the property also significantly influence its value.
* Market Demand: The level of demand for properties in Pakenham is a crucial factor in determining prices. High demand, coupled with limited supply, can drive prices upwards. Conversely, periods of lower demand may lead to price reductions.
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