Croydon South rewards the committed seller this month. Prices have softened six to seven per cent, but the shortage of homes for sale means owners who list now are meeting buyers with limited alternatives.
Demand is strongest for lower-priced homes and sites with development potential. Broader buyer sentiment is hesitant, weighed down by winter and the media noise around auctions, but low stock is offsetting that caution.
The likely pattern is a surge of listings in spring, possibly an oversupply. Acting quickly while supply is tight is the sensible move for committed sellers, and anyone buying and selling in the same market will find things balance out.
Median sale price for houses in Croydon South is $929,000, up 5.0% from last year.
Properties sold for houses in Croydon South is 102, up 56.9% from last year.
Properties sold for units in Croydon South is 8, up 33.3% from last year.
Auction clearance for houses in Croydon South is 78.3%, up 9.6% from last year.
Av days on market for houses in Croydon South is 19, up 18.8% from last year.
$982,000
$929,000
$920,000
$905,500
$835,000
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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