Montrose's leafy setting continues to draw buyers, and this month a shortage of listings is keeping the market steadier than the headlines suggest. Prices have eased six to seven per cent, but low supply favours the owner who commits to selling.
Owners across the area are hesitating, held back by winter and the noise around auctions. That caution keeps stock tight. Lower-priced homes and development sites are seeing the strongest demand.
A wave of spring listings is expected, possibly an oversupply. For committed sellers, moving now while supply is scarce is the sensible approach, and buyers and sellers trading in the same market will find things balance out.
Median sale price for houses in Montrose is $1,000,000, up 2.0% from last year.
Properties sold for houses in Montrose is 85, down 6.6% from last year.
Properties sold for units in Montrose is 5
Auction clearance for houses in Montrose is 60.0%, down 25.0% from last year.
Av days on market for houses in Montrose is 15, down 28.6% from last year.
$1,000,000
$896,250
$892,000
$866,000
$845,000
$835,000
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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