Craigieburn is clearing homes at a pace few other suburbs in this update can match. Two-bedroom houses are selling at $455,000 with an 89 per cent clearance rate in just over two weeks, and three-bedroom homes are close behind at $651,000, with 606 sales this year and an 83 per cent clearance rate.
Four-bedroom family homes remain solid at $762,250 with 583 sales, though the top of the market is more selective, with five-bedroom homes above $900,000 clearing at 51 per cent. Apartments are performing exceptionally well too, with two-bedroom units clearing at 93 per cent and three-bedroom units at 75 per cent.
With 56 per cent of households here families, buyers are firmly focused on move-in ready homes with genuine entertaining space. First-home buyers and family upsizers are both highly active, and with clearance this strong across almost every bracket, well-presented homes are not staying on the market long.
Median sale price for houses in Craigieburn is $710,000, up 7.6% from last year.
Median sale price for units in Craigieburn is $485,000, up 12.3% from last year.
Properties sold for houses in Craigieburn is 1,331, up 11.0% from last year.
Properties sold for units in Craigieburn is 129, up 19.4% from last year.
Auction clearance for houses in Craigieburn is 70.9%, down 0.8% from last year.
Auction clearance for units in Craigieburn is 86.7%, up 23.8% from last year.
Av days on market for houses in Craigieburn is 31, down 18.4% from last year.
Av days on market for units in Craigieburn is 29, down 35.6% 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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