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VIC › Olinda › Spencer Rd

10 Spencer Rd, Olinda VIC 3788

House

$960,000

Last sold

29 Feb 2024

3

Bedrooms

1

Bathrooms

3

Car spaces

3,601 m²

Land

Districts ViewPrice evidencePlanningSite constraintsHistoryListing

Districts View

What should you know about this lot before spending serious money?

Why this property?

  • FactLast recorded sale $960,000 (29 Feb 2024).(Recorded sale)
  • FactLand 3,601 m²; no building size recorded.(Property record)
  • CalculationRecorded House sales in Olinda (last 5 years) with land size: median $445/m² of land (n=80). Districts calculation from recorded sales — not a valuation.(Districts recorded sales)

What could make it worth more?

  • FactZoned GREEN WEDGE A ZONE - SCHEDULE 2 (GWAZ2) under the ZN.(Vicmap Planning · 1 Sept 2026)

What could make it worth less?

  • FactSIGNIFICANT LANDSCAPE OVERLAY - SCHEDULE 1 intersects 99.8% of this parcel.(Vicmap Planning · 1 Sept 2026)
  • FactBUSHFIRE MANAGEMENT OVERLAY intersects 99.8% of this parcel.(Vicmap Planning · 1 Sept 2026)
  • FactEROSION MANAGEMENT OVERLAY intersects 73.7% of this parcel.(Vicmap Planning · 1 Sept 2026)

What should you verify next?

  1. 1SIGNIFICANT LANDSCAPE OVERLAY - SCHEDULE 1 affects this parcel — verify the mapped extent against the title / planning certificate before relying on unaffected land.
  2. 2BUSHFIRE MANAGEMENT OVERLAY affects this parcel — verify the mapped extent against the title / planning certificate before relying on unaffected land.
  3. 3EROSION MANAGEMENT OVERLAY affects this parcel — verify the mapped extent against the title / planning certificate before relying on unaffected land.
  4. 4No hazard layer has been retrieved — confirm flood, bushfire and heritage exposure from council mapping before an offer.

Each line above is labelled. A fact is quoted from the named source, with its date. A calculation is worked out by Districts from those facts — you can check the arithmetic. An interpretation is Districts' opinion of what the evidence means, not a fact, a valuation, or advice. Anything we haven't retrieved yet is marked as missing rather than treated as a pass.

Price evidence

What this lot has actually traded at

Last sold

$960,000

29 Feb 2024 · derived via latest_sale

Local land rate: recorded House sales in Olinda (last 5 years) with land size have a median of $445/m² of land (n=80). Districts calculation from recorded sales — not a valuation.

Olinda at a glance

1,741

People

$1,180,000

Median sale

$629/wk

Median rent

2.77%

Suburb gross yield

Median sale from 13 recorded sales (last 12 months) — a Districts calculation.

See the full Olinda report →

Vs Olinda

-18.6%

Median sale

Suburb $1,180,000

+0.64 pp

Gross yield

Suburb 2.77%

Suburb median $1,180,000 from 13 recorded sales (last 12 months) — a Districts calculation, not a portal figure.

Planning

Planning and development

Planning scheme

ZN

Zone

GREEN WEDGE A ZONE - SCHEDULE 2

GWAZ2

Jurisdiction

Yarra Ranges

Yarra Ranges, VIC

Planning overlays

  • SIGNIFICANT LANDSCAPE OVERLAY - SCHEDULE 1Detected — 99.8% of parcel

Development activity

Data unavailable

Source

  • Provider: Vicmap Planning
  • Dataset: PLAN_ZONE
  • Retrieved: 31 Aug 2026
  • Version: 1
  • Parcel: 1355379

Planning facts are copied from official government GIS where available. Where an official property PDF exists (VicPlan, PlanBuild), Districts stores and serves that original document. Neither is a planning certificate, survey, or advice.

Site

Terrain

Terrain has not been calculated for this property yet.

Slope is calculated on a projected metric grid from a public DEM clip of the official parcel. This is not a survey, engineering, or insurance assessment.

Flood, bushfire and heritage

i

Flood

Not retrieved

Flood exposure has not been retrieved from any source for this property yet. Unknown is not the same as clear.

Bushfire

Detected — official

The official layer maps a bushfire risk zone on this parcel, intersecting about 99.8% of it (Vicmap Planning, retrieved 31 Aug 2026). Verify the extent against the title before relying on unaffected land.

Heritage

Not retrieved

Heritage listing has not been retrieved from any source for this property yet. Unknown is not the same as clear.

Records

Property history

  1. Sold$960,00029 Feb 2024
  2. Listedprice unknowncompleted7 Feb 2024
  3. Listedprice unknowncompleted7 Feb 2024

Events are recorded observations from public listings, kept with their source and date. Missing values are shown as unknown, never estimated.

Capital growth

VIC

Why this lot, not just this suburb

Why could this property outperform?

Confidence: medium

Zoned GREEN WEDGE A ZONE - SCHEDULE 2 · GWAZ2 (ZN). Official parcel area about 3,704 m². Dual occupancy is not confirmed from the controls loaded for this lot. Two-lot subdivision is unknown without minimum lot size and frontage. This is a screen, not a planning certificate. Zoning and lot facts are a starting point, not proof this lot outperforms the suburb. Funded catalyst catchments are not loaded. A TOD badge is not this product.

What could kill that thesis?

Confidence: low

Flood overlay has not been queried for this lot. Missing layer is unknown, not “no.” Minimum lot size is not loaded, so two-lot subdivision is not confirmed. Official parcel about 3,704 m² — land size can look like optionality. What reduces it: SIGNIFICANT LANDSCAPE OVERLAY - SCHEDULE 1; BUSHFIRE MANAGEMENT OVERLAY; EROSION MANAGEMENT OVERLAY. Pay house money or walk — do not pay site money until a planner confirms a pathway through this stack. Victoria has no public statewide property-level DA API. Nearby pipeline is unknown.

Rental

Income, competition, and yield

What will it realistically rent for?

Confidence: low

No advertised rent is recorded. Suburb median rent $629/week — not this address. An inferred likely-rent range is not shown until official bond series are loaded for this dwelling type and bedrooms.

What competition will it face?

Current comparable rental listings within 400 m of this lot are not loaded. Victoria has no public statewide property-level DA API. Nearby pipeline is unknown. Supply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded. Suburb vacancy or leased-tape days are not this property’s competition.

What does the yield actually look like?

Confidence: low

Yield cannot be shown without both a price and a rent figure. Net yield is not estimated from gross advertising copy. Net yield / holding costs are not estimated outside NSW without inventing land tax.

Verdict

What this means for this property

Districts view

Not enough official evidence yet to underwrite this as an investment.

Detail

The same ten questions apply to every property. Missing flood, nearby DAs, achieved rents, or lot geometry is unknown — not “no.”

Read more

Do not treat a suburb median, an advertised yield, or a listing score as the case for this lot.

The evidence loaded so far isn't enough on its own to change a buy, offer, or walk-away decision for this property.

Evidence

What is known for this property

Districts asks the same ten questions of every property. If one shows as unknown, that data isn't published for this state or hasn't been loaded yet — the question stays visible so you can see exactly what's missing.

3 of 10 questions answered so far

  • Development optionality of this lot

    Knownmedium

    Zoned GREEN WEDGE A ZONE - SCHEDULE 2 · GWAZ2 (ZN). Official parcel area about 3,704 m². Dual occupancy is not confirmed from the controls loaded for this lot. Two-lot subdivision is unknown without minimum lot size and frontage. This is a screen, not a planning certificate.

  • Nearby development pipeline

    Unknown

    Victoria has no public statewide property-level DA API. Nearby pipeline is unknown.

  • Honest achievable rent

    Knownlow

    This is not “bond data says this address leases for $X.” The comparable figure is a suburb advertised/median rent, not this property. Official bond files (postcode or suburb × type × bedrooms) are not loaded yet.

  • Rental supply pressure

    Unknown

    Supply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded.

  • Why is this cheap?

    Knownlow

    Official parcel about 3,704 m² — land size can look like optionality. What reduces it: SIGNIFICANT LANDSCAPE OVERLAY - SCHEDULE 1; BUSHFIRE MANAGEMENT OVERLAY; EROSION MANAGEMENT OVERLAY. Pay house money or walk — do not pay site money until a planner confirms a pathway through this stack.

  • Lot-level flood

    Unknown

    Flood overlay has not been queried for this lot. Missing layer is unknown, not “no.”

  • Catalyst exposure

    Unknown

    Funded catalyst catchments are not loaded. A TOD badge is not this product.

  • This lot's DA history

    Unknown

    No DA adapter returned applications for this parcel.

  • Statutory land value versus ask

    Unknown

    Statutory land value is not available as free bulk data in this jurisdiction. Do not fake it with a suburb median.

  • Net yield / holding costs

    Unknown

    Net yield / holding costs are not estimated outside NSW without inventing land tax.

Area

Olinda in one glance

Olinda at a glance

1,741

People

$1,180,000

Median sale

$629/wk

Median rent

2.77%

Suburb gross yield

Median sale from 13 recorded sales (last 12 months) — a Districts calculation.

See the full Olinda report →

Keep researching

  • Why Olinda? Read the area thesis →
  • What else is on the market in Olinda →
  • Other records on Spencer Rd →

Listing material

Listed by Bell Real Estate Olinda

“Craiglea” – Enchanting, Unique Weatherboard Home with Stunning Gardens on a Sunny Block with Bonus Studio

With 4 Living Zones... you can easily change the lounge to BEDROOM 3 and keep the character with amazing bay window! (Check out the floorplan!)

Quietly nestled in one of Olinda’s most historically rich streets, this enchanting and unique weatherboard home “Craiglea” dripping in charisma, character and charm is thought to date back to the 1930s. Poised on a stunning, sunny elongated acre awash with glorious gardens, this is the perfect haven for couples, retirees or young families to immerse themselves in the magic of The Dandenong Ranges. Yesteryear allure is also complemented by gentle modern updates sympathetic to bygone days including gorgeous handcrafted leadlight.

Vintage character is delivered via high ceilings and sash windows with reclaimed elements weaving their stories into the interiors such as wardrobe doors from a Camberwell theatre, a front bay window from a period home in Hawthorn and a leadlight panel between the kitchen/lounge from a deco home in South Yarra. A special touch is the #10 sign on the front gate that comes from the late George Adams (the founder of Tattersalls) House named Woodbury in Hobart.

Read the full description

A spacious lounge/dining room casts a distinguished ambience for your downtime or grand entertaining highlighted by a charming window seat and an open fireplace with a coonara wood heater. There is plenty of natural light via diamond leadlight windows and skylight. At the rear a spectacular sunroom basks in easterly light showcasing custom-made double-glazed windows that frame live garden art as you relax with your feet up.

The neat kitchen delivers a functional layout with walk-in pantry, gas cooktop and double sink, and a snug breakfast room opposite retains the original meat safe cupboard against a lush backdrop of Chinese windmill palms.

Tucked away, two spacious bedrooms are complemented by a sparkling contemporary bathroom with walk-in rainshower.

Cocooned in the heart of a large rambling garden, home to weeping cherry trees, Spanish bluebells, montana clematis, laceleaf Japanese maples, a tree peony, hydrangeas, rhododendrons, azaleas, hellebores and over 25 camelia species, meandering pathways throughout the acre allotment lead to inspiring garden rooms and rolling lush lawn. One of the sweetest spots to sit and take in the flourishing blooms is an arbor with bluebird leadlight accents that sparkle in the sunshine. Pure magic.

Visiting wildlife includes kookaburras, king parrots and bower birds adding a sweet birdsong melody to accompany your daily life. Lyrebirds, wombats, echidnas and wallabies are also frequent visitors to the area.

As the new custodians of Craiglea, you will also inherit an old Liberty Lined Sea travel trunk complete with its original luggage tag.

It’s just 5-minutes to both Olinda and Monbulk townships where you can revel in boutique shops, eateries, supermarkets and schools. Alternatively, simply embrace the quietude of your private garden sanctuary in a quiet and serene no-through road.

At a Glance:

• 2 bedroom, one bathroom character home circa 1930 on 3601m2 on the sunny side of the mountain.

• Spacious layout which could easily be reconfigured to create a three-bedroom home.

• Next door to “Brambeldene” circa 1890 – a historical cottage used as a stopover for the horse drawn carriages making their way to Melbourne from Marysville and Warburton.

• Three separate living areas including a lounge/dining, breakfast room and a sunroom extension.

• Modern renovated bathroom with rainshower.

• Stunning, curated garden spaces including blankets of lawn bathed in sunshine and pockets of flourishing gardens.

• Rustic garden studio/workshop/home office/home business space or man-cave/she shed with wood fire, own entrance and power with a stunning north facing aspect perfect for artists or creatives.

• Under house and under studio storage including laundry.

• “Cluckinham Palace” – a fancy chook house with 3x isa browns included.

• At the bottom of the property there are remnants of the old railway track used by the berry train that used to transport berries from Monbulk to the train at Ferntree Gully, then onto Melbourne markets.

• 4 x rainwater tanks.

• Split system air-conditioning.

• Single garage, single carport, tool shed plus off-street parking.

Disclaimer: All information provided has been obtained from sources we believe to be accurate, however, we cannot guarantee the information is accurate and we accept no liability for any errors or omissions (including but not limited to a property's land size, floor plans and size, building age and condition) Interested parties should make their own enquiries and obtain their own legal advice.

Listing description written by Corinne Sukroo, Bell Real Estate Olinda — reproduced as published, not verified by Districts.

Property features

  • Living Areas: 1
  • Outdoor Entertaining
  • Toilets: 1
  • Water Tank
  • Workshop
Districts

Australian property research from recorded sales, listings, and official layers. Missing data is shown as unavailable, never filled in.

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Research purposes only. Not personal financial advice, a valuation, or a planning certificate. Always speak to a licensed financial adviser before you act.