Mickleham is producing volume unlike anywhere else in this update, with 828 four-bedroom sales this year at $715,000. Three-bedroom homes are trading at $620,000 with a healthier 63 per cent clearance rate and 277 sales, moving noticeably faster than the four and five-bedroom brackets above.
Five-bedroom homes at $896,000 are taking the longest to sell, around nine weeks, with a more selective 30 per cent clearance rate, consistent with the higher end moving slower right now while still finding buyers eventually. With over nine in ten homes owner-occupied, this remains an overwhelmingly family-first, rapidly growing estate community.
Buyers want homes that are genuinely move-in ready, and this fast-expanding corridor continues to draw an influx of young families. Affordable three-bedroom stock is where first-home buyers are most active, clearing well ahead of the larger, pricier homes further up the estate.
Median sale price for houses in Mickleham is $704,500, up 3.6% from last year.
Properties sold for houses in Mickleham is 1,185, up 26.3% from last year.
Properties sold for units in Mickleham is 5, down 54.5% from last year.
Auction clearance for houses in Mickleham is 47.9%, up 5.2% from last year.
Auction clearance for units in Mickleham is 100.0%, up 50.0% from last year.
Av days on market for houses in Mickleham is 48, down 23.8% 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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