McCrae sits at the premium end of this stretch of coast, tucked between Arthurs Seat and the bay. Three-bedroom homes are trading at $1.025 million with a 55 per cent clearance rate in around five weeks, and four-bedroom family homes are close behind at $1.35 million, though taking closer to ten weeks to sell.
Two and five-bedroom homes round out a smaller share of the market, with buyers at every level favouring solid, well-built homes over cosmetic updates. With 80 per cent of homes owner-occupied, this remains a settled, established pocket rather than a high-turnover one.
Demand is a touch quieter than usual across the Peninsula, but so is stock, and buyers are still willing to move decisively on the right property. Homes priced to reflect the current market are attracting genuine offers, while those pushing too high are simply taking longer to find their buyer.
Median sale price for houses in Mccrae is $1,190,000, down 0.8% from last year.
Properties sold for houses in Mccrae is 80, down 5.9% from last year.
Properties sold for units in Mccrae is 8, up 14.3% from last year.
Auction clearance for houses in Mccrae is 41.7%, down 22.2% from last year.
Auction clearance for units in Mccrae is 100.0%, up 200.0% from last year.
Av days on market for houses in Mccrae is 43, down 32.8% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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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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