Blackburn North is the steadiest performer in this group, and the reason is structural. There is virtually no apartment market here, so the suburb is almost entirely family houses in the hands of long-term owners, close to four in five of whom own their home.
That shows up in the results. Three-bedroom houses are clearing at 75 per cent in around five weeks, four-bedroom homes at 74 per cent, and even five-bedroom properties are holding at 67 per cent. Where other suburbs are splitting sharply between a busy entry market and a hesitant upper end, demand here is spread evenly across the sizes.
For owners that is genuinely useful, because it means the buyer pool does not thin out as you move up the price range. What it does not change is the pricing discipline. Buyers are well informed and working from current evidence, so a figure anchored to recent comparable sales is what gets a campaign moving.
Median sale price for houses in Blackburn North is $1,399,000, up 10.2% from last year.
Median sale price for units in Blackburn North is $900,000, up 16.1% from last year.
Properties sold for houses in Blackburn North is 120, up 4.3% from last year.
Properties sold for units in Blackburn North is 17, up 41.7% from last year.
Auction clearance for houses in Blackburn North is 76.2%, down 6.7% from last year.
Auction clearance for units in Blackburn North is 100.0%, up 50.0% from last year.
Av days on market for houses in Blackburn North is 33, down 17.5% 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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