Kilsyth is holding steadier than expected this month. Prices are down six to seven per cent, but a genuine shortage of listings is keeping the market from softening the way the headlines imply.
Owners are hesitating, held back by winter and the uncertainty around auction results. That caution keeps supply low and works in favour of the owners who decide to list now. Development sites and lower-priced homes are drawing the strongest demand.
A wave of spring listings is expected, possibly an oversupply. For committed sellers, moving now while stock is scarce is the smart approach, with time currently on your side rather than against it.
Median sale price for houses in Kilsyth is $835,000, up 6.9% from last year.
Median sale price for units in Kilsyth is $712,500, up 2.5% from last year.
Properties sold for houses in Kilsyth is 239, up 17.2% from last year.
Properties sold for units in Kilsyth is 81, up 5.2% from last year.
Auction clearance for houses in Kilsyth is 70.8%, up 14.7% from last year.
Auction clearance for units in Kilsyth is 100.0%, up 200.0% from last year.
Av days on market for houses in Kilsyth is 15, down 37.5% from last year.
Av days on market for units in Kilsyth is 16, down 15.8% 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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