Gisborne is doing the heaviest lifting in this update, and it shows in the depth of the numbers. Buyers looking to upsize are moving with real intent, and homes in the $600,000 to $1 million range are the ones spending the least time on the market.
Two-bedroom houses are trading at $587,500, and three-bedroom homes at $787,500 with 56 sales this year in around a month, both squarely inside that fast-moving band. Four-bedroom family homes are more considered at $1.07 million with a 38 per cent clearance rate, and five-bedroom homes above $1.25 million are the most conservative bracket, often taking several months to sell. Apartments remain a smaller part of the mix, led by two-bedroom units at $524,000.
With close to three in five households here families, buyers are drawn to homes with genuine entertaining areas and established landscaping. First-home buyers and family upsizers are both active right now, and it is a genuinely good time to trade up while the middle of the market moves this quickly.
Median sale price for houses in Gisborne is $980,000, up 0.0% from last year.
Median sale price for units in Gisborne is $600,000, up 11.1% from last year.
Properties sold for houses in Gisborne is 221, up 12.8% from last year.
Properties sold for units in Gisborne is 31, up 55.0% from last year.
Auction clearance for houses in Gisborne is 50.0%, up 10.0% from last year.
Av days on market for houses in Gisborne is 58, down 36.3% from last year.
Av days on market for units in Gisborne is 54, down 49.1% 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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