Limited stock is the defining feature right now, and it works in your favour if you move before the spring listings arrive. They are already flowing through behind the scenes, so there is a genuine window to get ahead of the congestion.
The clearest signal in the numbers is that units are outperforming houses. Two-bedroom apartments at a median of $647,500 are clearing at 82 per cent, and three-bedroom units at 78 per cent, well ahead of the house market where four-bedroom homes sit at 58 per cent. That entry apartment segment is also the busiest in the suburb, which is exactly where the unprecedented interstate investment is landing.
Three-bedroom houses remain solid at 69 per cent and around five weeks. Larger family homes need more patience, taking closer to seven weeks. Buyers are very price sensitive and doing their homework, so the pre-campaign pricing conversation matters more than ever. Pitched to the right market, the volume of buyers is still genuinely healthy.
Median sale price for houses in Bentleigh is $1,600,000, down 2.4% from last year.
Median sale price for units in Bentleigh is $700,000, up 9.8% from last year.
Properties sold for houses in Bentleigh is 238, down 4.0% from last year.
Properties sold for units in Bentleigh is 176, up 17.3% from last year.
Auction clearance for houses in Bentleigh is 68.5%, down 6.5% from last year.
Auction clearance for units in Bentleigh is 82.8%, up 5.5% from last year.
Av days on market for houses in Bentleigh is 43, down 2.3% from last year.
Av days on market for units in Bentleigh is 36, down 20.0% 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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