Brunswick West is the value entry to the inner north, and that is exactly what is drawing buyers. Two-bedroom houses near $866,000 and three-bedroom homes around $1.22m sit at the affordable end of the area, squarely in the range where first-home buyers are most active, and both are clearing solidly in around five weeks. It is the most attainable of the Brunswick pockets.
The choosier notes are familiar. Four-bedroom houses near $1.59m are clearing at about half over roughly nine weeks, and the deep two-bedroom apartment field is more measured at under six in ten.
For sellers of entry-level houses and apartments, the buyer pool is real and motivated. The way to convert it is presentation and a realistic price, because today's buyers compare widely and move on quickly from anything pitched to last year's peak rather than this year's genuine local results.
Median sale price for houses in Brunswick West is $1,202,500, up 7.4% from last year.
Median sale price for units in Brunswick West is $510,000, up 6.3% from last year.
Properties sold for houses in Brunswick West is 188, up 5.0% from last year.
Properties sold for units in Brunswick West is 206, down 1.4% from last year.
Auction clearance for houses in Brunswick West is 66.2%, down 9.5% from last year.
Auction clearance for units in Brunswick West is 55.6%, down 12.0% from last year.
Av days on market for houses in Brunswick West is 42, down 2.3% from last year.
Av days on market for units in Brunswick West is 31, down 31.1% 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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