Clayton's market runs to a different rhythm than its neighbours, shaped heavily by its proximity to Monash University. With 63 per cent of homes rented rather than owned, this is fundamentally an investor and renter-driven suburb, and it shows in the numbers.
Two-bedroom houses are clearing at a striking 90 per cent, while three-bedroom homes lead on volume with 91 sales this year at $1.069 million and a 76 per cent clearance rate. Apartments are the real engine here, with 100 two-bedroom unit sales at $510,000 and three-bedroom units clearing at 81 per cent.
Buyers and investors alike are favouring well-presented, move-in ready properties close to the university, transport and cafes. Confidence remains cautious across the board, but Clayton's depth of stock and steady demand from both owner-occupiers and investors make it one of the more active markets in this update right now.
Median sale price for houses in Clayton is $1,152,500, up 5.7% from last year.
Median sale price for units in Clayton is $570,500, down 4.8% from last year.
Properties sold for houses in Clayton is 196, up 18.8% from last year.
Properties sold for units in Clayton is 183, down 16.8% from last year.
Auction clearance for houses in Clayton is 73.9%, up 4.6% from last year.
Auction clearance for units in Clayton is 80.3%, up 2.2% from last year.
Av days on market for houses in Clayton is 44, down 21.4% from last year.
Av days on market for units in Clayton is 40, down 18.4% 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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