Alphington continues to draw an established buyer, and the numbers reflect that. It is one of the more settled pockets in Melbourne's inner north, where the average resident is aged between 40 and 59, and two thirds of homes are owner-occupied rather than rented.
The top end is where confidence is clearest. Five-bedroom homes are clearing at 67 per cent, the strongest result across any house bracket, while four-bedroom family homes are close behind at 62 per cent in around seven weeks. Three-bedroom houses are more considered, taking closer to nine weeks to sell at a 55 per cent clearance rate. Apartments are a smaller part of the market here, with one-bedroom units the quickest movers at just over three weeks.
Buyers want homes that are genuinely move-in ready, with quality renovations and natural light doing much of the work. Presentation matters more than ever, and the better homes are still finding buyers even as overall confidence sits a little lower than earlier in the year.
Median sale price for houses in Alphington is $1,582,500, up 5.5% from last year.
Median sale price for units in Alphington is $752,500, down 9.3% from last year.
Properties sold for houses in Alphington is 91, down 3.2% from last year.
Properties sold for units in Alphington is 81, down 31.9% from last year.
Auction clearance for houses in Alphington is 66.7%, down 9.5% from last year.
Auction clearance for units in Alphington is 57.1%, down 28.6% from last year.
Av days on market for houses in Alphington is 58, up 1.8% from last year.
Av days on market for units in Alphington is 62, down 15.1% from last year.
$2,250,000
$2,057,500
$1,603,500
$1,582,500
$1,572,500
$1,410,000
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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