Lower Plenty's leafy, semi-rural feel and larger blocks keep it appealing to family buyers this month. Those attending opens value the space and the green surroundings, and they tend to have already committed to the pocket.
The wider area is steadier than the far east. Larger family homes here take a little longer given their size, so pricing to recent comparable sales matters, but the underlying family demand is consistent.
Owners who present their homes well and price realistically are achieving solid outcomes. In a market that rewards accuracy, the well-presented home on a good block finds its buyer.
Median sale price for houses in Lower Plenty is $1,270,000, down 15.3% from last year.
Median sale price for units in Lower Plenty is $675,000, down 8.2% from last year.
Properties sold for houses in Lower Plenty is 54, up 10.2% from last year.
Properties sold for units in Lower Plenty is 24, up 4.3% from last year.
Auction clearance for houses in Lower Plenty is 20.0%, down 20.0% from last year.
Auction clearance for units in Lower Plenty is 100.0%, up 25.0% from last year.
Av days on market for houses in Lower Plenty is 42, up 35.5% from last year.
Av days on market for units in Lower Plenty is 24, up 0.0% 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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