Airport West's relative value and shopping convenience keep buyers engaged this month. First home buyers and families who have compared the surrounding suburbs are finding this pocket accessible, and that is bringing genuine buyers to opens.
This is more of an entry and mid-market suburb than the prestige end of the office, and that works in its favour right now. The wider area shows entry-level houses and smaller units clearing strongly, at 70 per cent and above, while it is the top end that softens.
Owners who present well and anchor their price to recent comparable sales are the ones seeing offers. In this segment, the buyers are active and a realistically priced, well-presented home is meeting them.
Median sale price for houses in Airport West is $961,500, up 7.6% from last year.
Median sale price for units in Airport West is $713,500, up 9.0% from last year.
Properties sold for houses in Airport West is 199, down 0.5% from last year.
Properties sold for units in Airport West is 64, up 8.5% from last year.
Auction clearance for houses in Airport West is 73.4%, up 19.5% from last year.
Auction clearance for units in Airport West is 82.6%, up 2.4% from last year.
Av days on market for houses in Airport West is 41, down 28.1% from last year.
Av days on market for units in Airport West is 35, down 16.7% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
Good property management should remove uncertainty, not create more of it.
If you're considering engaging a property manager, one of the first questions you're likely to ask is: how much does property management actually cost?
Owning an investment property and owning a good investment property are not necessarily the same thing. It’s an important distinction, and one that property investors should revisit regularly.
The Reserve Bank's decision to leave the cash rate on hold at 4.35 per cent is welcome news for buyers, sellers and businesses alike. While it's not a silver bullet for Melbourne's property market, it should provide some reassurance that the aggressive phase of the interest rate tightening cycle may be easing.
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