Hughesdale is posting some of the strongest clearance results covered in this update. Three-bedroom houses are clearing at a remarkable 96 per cent, with 32 sales this year at $1.31 million, while four-bedroom family homes are close behind at 74 per cent, trading above $1.69 million.
Apartments are performing well too, with two-bedroom units at $617,500 clearing at 79 per cent and three-bedroom units at $995,500 clearing at a strong 83 per cent. Across every bracket, buyers are showing genuine conviction once a home presents well.
With just under two in three households renting, this remains a suburb with strong investor interest alongside owner-occupiers. Move-in ready homes with updated kitchens and bathrooms, close to schools, transport and cafes, are attracting the strongest competition, and with clearance this high, well-priced listings are rarely staying on the market long at all.
Median sale price for houses in Hughesdale is $1,530,000, up 13.2% from last year.
Median sale price for units in Hughesdale is $688,000, up 18.6% from last year.
Properties sold for houses in Hughesdale is 67, up 1.5% from last year.
Properties sold for units in Hughesdale is 83, up 48.2% from last year.
Auction clearance for houses in Hughesdale is 84.9%, up 27.4% from last year.
Auction clearance for units in Hughesdale is 80.9%, up 12.1% from last year.
Av days on market for houses in Hughesdale is 62, up 55.0% from last year.
Av days on market for units in Hughesdale is 39, down 13.3% from last year.
$1,935,000
$1,620,000
$1,530,000
$1,490,000
$1,300,000
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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