Balaclava is a lively, well-connected suburb where compact character homes are clearing strongly. Two-bedroom houses near $1.058m are clearing at around three in four and three-bedroom homes near $1.4735m higher again, as buyers compete for period cottages and terraces close to the cafes and transport of Carlisle Street. The one-bedroom apartment near $432,000 is moving fast, in about three weeks.
Presentation counts. Turn-key homes that are ready to move into are attracting the strongest interest, while the entry apartment market gives first-home buyers and investors an affordable way in.
With clearance rates consistently healthy and confidence returning, the market has moved towards balance and buyers are engaging more actively. For vendors, this is an encouraging backdrop that still rewards getting the details right. Trusting sound advice on pricing and presentation, and bringing a well-prepared home to market, is what turns this steady competition into a strong result as spring approaches.
Median sale price for houses in Balaclava is $1,350,000, up 10.7% from last year.
Median sale price for units in Balaclava is $544,500, down 5.6% from last year.
Properties sold for houses in Balaclava is 61, up 15.1% from last year.
Properties sold for units in Balaclava is 86, up 14.7% from last year.
Auction clearance for houses in Balaclava is 81.4%, up 35.7% from last year.
Auction clearance for units in Balaclava is 76.0%, up 20.3% from last year.
Av days on market for houses in Balaclava is 28, down 34.9% from last year.
Av days on market for units in Balaclava is 24, down 11.1% from last year.
$1,905,000
$1,648,500
$1,530,500
$1,450,000
$1,350,000
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.
Discover the hidden potential of your biggest asset — for free, in seconds. Choose an Instant Appraisal for immediate market value and suburb performance, or request an in-depth Agent Appraisal from our experienced local Woodards professionals.
No obligation. No pressure. Just clarity.
Find Elsternwick's Best Real Estate Agents at Woodards
All of our agents have the experience and local knowledge to guide you
Whether selling or investing, an appraisal of value will give you the confidence to make an informed decision
Switch to Woodards Property Management
