Diggers Rest's three-bedroom houses have posted a genuinely rare result this year, a 100 per cent clearance rate, with 93 sales at $610,900 in an average of just 18 days. That is about as strong a signal as this update will show of buyer demand meeting the right stock.
Two-bedroom homes remain the most accessible entry point at $529,900, while four-bedroom family homes are trading at $717,500 with 75 sales. Both sit comfortably inside the $600,000 to $1 million band performing strongest across the wider area. Five-bedroom homes make up a smaller, more selective top end.
With a younger population and 81 per cent of homes owner-occupied, Diggers Rest continues to draw first-home buyers and young families in equal measure. Buyers want functional layouts and genuine outdoor space, and with entry-level stock clearing this completely, well-presented homes are meeting the market immediately at asking expectations.
Median sale price for houses in Diggers Rest is $660,000, up 2.7% from last year.
Properties sold for houses in Diggers Rest is 193, down 1.5% from last year.
Properties sold for units in Diggers Rest is 2, up 0.0% from last year.
Auction clearance for houses in Diggers Rest is 85.7%, up 58.6% from last year.
Av days on market for houses in Diggers Rest is 22, down 29.0% from last year.
$720,000
$660,000
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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