18 Ethel Street Malvern - James Buyer Advocates

18 Ethel Street, Malvern

James Home Rating: 641 | PPP Grade: B | 2026
Quote: $3.0m
Type: Large townhouse
Key issue: Levels. Lots of them.

The Defining Feature: The Stairs

You cannot soften this.

This home:

• revolves around stairs

• lives with the slope, not against it

• asks you to be physically honest with yourself

But here’s the nuance…

Why the Stairs Actually Work

✔ Beautiful timber
The stairs aren’t cheap or ugly — they’re warm, rich, well-finished.
Same with the floors. There’s quality here.

✔ Logical response to the land
This isn’t bad design.
It’s a design choice: flow with the block instead of flattening it.

✔ Zoning makes sense

• Bedrooms up

• Living down

• Extra office / bedroom option for separation

It’s functional — just vertical.

Who This Home Fits

Good for:

• fit buyers

• families with teenagers

• people who don’t fear movement through a house

• buyers who value space + garaging at this price point

Not for:

• anyone with mobility issues

• very young-child households

• buyers who want single-level ease

Price Reality

At $3m:

• sizeable townhouse

• excellent rear-access garaging

• Malvern position

That’s not easy to replace — if the stairs don’t scare you off.

Market Behaviour

This is a narrow-buyer home.

Most people will say:

“No, not for me.”

But the ones who say:

“Actually… this works.”

…may end up buying very well.

James Bottom Line

This isn’t a compromise — it’s a filter.

If:

• you’re fit

• you understand the land

• and the vertical living suits your life stage

Then this is better value than it first appears.