Gisborne South sits just outside the main township, and its numbers reflect a different kind of market again. This is a low-volume, high-value pocket built on larger blocks, with 96 per cent of homes owner-occupied and very little turning over in any given month.
Four and five-bedroom homes make up virtually all of the activity this year, eight sales between them, and the properties that have traded recently include several well above two million dollars. There simply isn't enough volume here to point to a reliable median or clearance rate, but the pattern is clear, this is an acreage-lifestyle market rather than a high-turnover one.
Buyers here are looking for genuine space, privacy and established landscaping, and the conservative pace at the luxury end showing up across the wider area is especially true in this pocket. For sellers, a smaller but more considered pool of buyers is the trade-off for owning in one of the area's most tightly held addresses.
Properties sold for houses in Gisborne South is 8, up 60.0% 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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