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306 Springvale Road, Forest Hill$885,000
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For Salehouse

306 Springvale Road

Forest Hill, VIC 3131, Australia
$850,000 – $920,000
3 bed 1 bath 1 car529 m²

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Listing description

About this property

Ideally combining classic charm with exciting future potential, this well-maintained three-bedroom brick veneer home presents an excellent opportunity for investors, growing families and first-home buyers alike. Set on a generous allotment at 306 Springvale Road, it offers comfortable living today with scope to further enhance over time. Inside, a welcoming and light-filled interior is complemented by beautiful hardwood timber floors flowing throughout the living areas and bedrooms. The spacious front lounge, complete with a fireplace and elegant light fittings, provides a warm and inviting setting and flows through to a dedicated dining area with split-system air conditioning for year-round comfort. The adjoining original-style kitchen includes a practical meals area and offers excellent potential for a modern update, while remaining perfectly functional for immediate use. Accommodation comprises three well-proportioned bedrooms, two with built-in robes, serviced by a neat central bathroom with separate bath and shower, a separate toilet, and a full laundry. Outdoors, the deep block and long driveway provide ample off-street parking, while a versatile rear garage/workshop adds further flexibility for storage, hobbies, or future use. Whether you are looking to move straight in or gradually renovate and extend (STCA), the home provides a flexible foundation to suit a range of needs. For investors, the solid existing dwelling and generous landholding present a smart opportunity to lease out immediately or explore future improvement or redevelopment options (STCA). Conveniently positioned within easy reach of everyday amenities, the property is close to Blackburn Lake Sanctuary, Forest Hill Chase and Brentford Square, with Nunawading Station also nearby for easy commuting. A selection of well-regarded schools are within close proximity, including Blackburn Lake Primary, Mount Pleasant Road Primary, Forest Hill College and Nunawading Christian College, further enhancing the home's broad appeal.

Property Details

Property Type
house
Listing Type
For Sale
Bedrooms
3
Bathrooms
1
Parking
1
Land Area
529 m²
Listed
2 months ago

Repayment calculator

$4,290/month
$2,145 /fortnight
Loan $708,000 at 6.10% over 30 years

Upfront costs

Deposit$177,000
Stamp duty$48,170
Conveyancing (est.)$2,000
Total upfront$227,170
Verify with VIC revenue office →
Indicative figures only — not a quote. Real loan offers depend on the lender; duty depends on contract terms and applicable concessions.

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Neighbourhood

Living in Forest Hill

This 3-bedroom house in Forest Hill, VIC 3131 sits within reach of public transport, local shops and nearby schools. It is listed 20% below the $1.10m median of 54 comparable houseswithin 5 km.

Schools near Forest Hill

  • Parkmore Primary Schoolprimary · Prep-6 · CoEd

What's nearby

  • Cumberland Court (bus)52 m away
  • Tai Chi245 m away
  • Glen Valley Reserve287 m away
  • Melbourne Water Pipe Reserve325 m away
  • Wren Close Reserve470 m away

Forest Hill at a glance

Full suburb profile
Population
10,780
Median age
42
Household income
$1,658/wk
Median rent
$396/wk
Median mortgage
$2,123/mo

Source: ABS Census.

Due diligence

Property Report

Future Development

Complete

Forest Hill is experiencing moderate residential infill and mixed-use development activity, particularly around the shopping centre and railway station precinct. Key drivers include public transport accessibility, local structure plan provisions for medium-density development, and catchment infill demand from Melbourne's eastern growth corridor. Council is encouraging town centre activation and residential densification through approved DAs and infrastructure investment.

Nearby projects

5

Closest

0.5 km

Forest Hill Village Mixed-Use Precinct

500m1km1.5km2kmForest Hill Village Mixed-Use Precinct — 0.5 kmApartment development - Central Avenue — 0.6 kmPublic transport infrastructure upgrade — 0.8 kmResidential subdivision - Mountain Highway corridor — 1.2 kmLocal precinct redevelopment - Canterbury Road — 1.5 km

Distance from this property is exact (rings = km). Direction is illustrative.

Forest Hill Village Mixed-Use Precinct

0.5 km
Mixed-useApproved

Retail and residential development around Forest Hill shopping centre with apartment blocks and improved public realm.

2025

500 m

Apartment development - Central Avenue

0.6 km
Apartment buildingProposed

3-4 storey apartment block targeting medium-density infill in proximity to town centre and station.

2025-2026

600 m

Public transport infrastructure upgrade

0.8 km
InfrastructureUnder construction

Station precinct and bus interchange improvements along Forest Hill Railway Station environs supporting residential densification.

2024

800 m

Residential subdivision - Mountain Highway corridor

1.2 km
Residential subdivisionApproved

Multi-lot residential subdivision in the Mountain Highway precinct targeting medium-density townhouse and apartment development.

2024-2025

1.2 km

Local precinct redevelopment - Canterbury Road

1.5 km
Mixed-useApproved

Commercial and residential infill project targeting underutilised sites along Canterbury Road.

2024-2025

1.5 km
Source: StMate AI — VIC development trends07/06/2026
Disclaimer: This report combines data from Australian Government open data portals (CC-BY 4.0) and StMate AI. For non-NSW properties some sections (zoning, flood, bushfire, development, heritage) are AI-generated based on publicly known suburb characteristics — always verify with the relevant council or authority before making decisions. This report does not constitute legal, financial, or planning advice.

Suburb market

Suburb price trend

Forest Hill price trend

Median sold · House 3 bed

Compound growth +1.2% / yr over 4 yrs

$1.14mcurrent median

Suburb-wide medians from sold listings — a guide to the area, not this specific property.

Full Forest Hill market

This listing

Price history

Price history

Listing price changes

2 price changes recorded for this property

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Within 5km

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