Chadstone's buyers are being genuinely selective right now, and the numbers show it. Two-bedroom houses are clearing at 70 per cent at $945,000, while three-bedroom homes are the volume leader with 60 sales this year at $1.14 million and a 66 per cent clearance rate.
Four and five-bedroom family homes remain in solid demand above $1.3 million, though clearance eases a little at the very top. Apartments are performing steadily too, with two-bedroom units at $550,000 and three-bedroom units at $922,800. Buyers across every bracket are prioritising homes that are genuinely move-in ready, with renovated kitchens and bathrooms doing much of the convincing.
With close to half of local households families, proximity to schools, transport and cafes remains a real drawcard. Confidence is cautious rather than bullish, but well-presented, accurately priced homes are still finding strong interest, particularly in the $700,000 to $1.2 million band drawing first-home buyers and young families alike.
Median sale price for houses in Chadstone is $1,206,250, up 4.6% from last year.
Median sale price for units in Chadstone is $653,000, up 30.6% from last year.
Properties sold for houses in Chadstone is 120, down 0.8% from last year.
Properties sold for units in Chadstone is 72, down 7.7% from last year.
Auction clearance for houses in Chadstone is 68.2%, up 1.3% from last year.
Auction clearance for units in Chadstone is 62.5%, down 15.9% from last year.
Av days on market for houses in Chadstone is 39, down 26.4% from last year.
Av days on market for units in Chadstone is 29, down 25.6% from last year.
$1,935,000
$1,560,000
$1,400,000
$1,300,000
$1,206,250
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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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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