This is the volume market of the group, and by some distance. Four-bedroom homes account for more sales here than any other segment in any nearby suburb, with three-bedroom houses close behind at 73 per cent clearance and around five weeks on market. If you own a family home in this pocket, you are selling into genuine depth.
The unit story is the one worth watching. Bentleigh East was recently singled out by Domain as Melbourne's strongest performing unit market, and locally two-bedroom apartments at $627,000 are clearing at 76 per cent in about a month. That growth is what has interstate investors paying attention.
The exception is the top end. Five-bedroom homes are clearing at 52 per cent and taking close to ten weeks, so anything at that level needs a realistic figure and a longer runway. Buyers throughout are cautious about overpaying but they are transacting out of genuine need.
Median sale price for houses in Bentleigh East is $1,490,000, up 1.9% from last year.
Median sale price for units in Bentleigh East is $861,500, up 14.9% from last year.
Properties sold for houses in Bentleigh East is 486, down 5.3% from last year.
Properties sold for units in Bentleigh East is 130, down 16.1% from last year.
Auction clearance for houses in Bentleigh East is 69.2%, down 9.1% from last year.
Auction clearance for units in Bentleigh East is 78.8%, up 2.4% from last year.
Av days on market for houses in Bentleigh East is 40, down 16.7% from last year.
Av days on market for units in Bentleigh East is 34, down 27.7% 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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