Essendon West has recorded the single largest price movement anywhere in this update, the median house price up 45.2 per cent this year to $1,430,000. Sales volume has eased though, down 29.6 per cent to just 19, a reminder that this is one of the smallest and most tightly held pockets covered, where individual sales can move the median significantly.
The apartment market has seen a striking lift in activity, unit sales up 300.0 per cent, albeit from a very small base. Clearance for houses has eased to 43.5 per cent, while units have improved to 60.0 per cent, up 20.0 per cent.
Given how few properties trade here in any given year, Essendon West's figures should be read with that scarcity in mind, but the direction of this year's price movement is a clear signal of genuine premium demand.
Median sale price for houses in Essendon West is $1,505,000, up 47.2% from last year.
Median sale price for units in Essendon West is $726,250
Properties sold for houses in Essendon West is 17, down 39.3% from last year.
Properties sold for units in Essendon West is 12, up 300.0% from last year.
Auction clearance for houses in Essendon West is 42.9%, down 17.9% from last year.
Auction clearance for units in Essendon West is 50.0%, up 0.0% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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