Essendon North's family homes and quiet streets keep buyers engaged this month. Those attending opens are drawn by the value relative to Essendon proper and the family-friendly feel of the pocket.
That value positioning places it in the more active part of the market. The wider area shows entry and mid-level homes clearing strongly while the premium end softens, and Essendon North sits mostly in that stronger band.
Owners who present well and anchor their price to recent comparable sales are the ones seeing offers. The buyers here are genuine and need-driven, and a realistically priced, well-presented home is meeting them without the long wait the top end faces.
Median sale price for houses in Essendon North is $1,331,000, up 33.5% from last year.
Median sale price for units in Essendon North is $411,000, up 4.6% from last year.
Properties sold for houses in Essendon North is 39, up 2.6% from last year.
Properties sold for units in Essendon North is 87, down 11.2% from last year.
Auction clearance for houses in Essendon North is 57.1%, up 4.8% from last year.
Auction clearance for units in Essendon North is 55.6%, down 21.3% from last year.
Av days on market for houses in Essendon North is 57, up 21.3% from last year.
Av days on market for units in Essendon North is 21, down 52.3% from last year.
$1,679,500
$1,475,000
$1,331,000
$1,200,000
$961,500
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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