The mood around Puckle Street is measured rather than hesitant. Buyers are not overspending and value for money decides every deal, but the depth here is real, and owners are no longer testing the market.
The numbers reward a close read. Two-bedroom houses are the quickest in the suburb at 28 days and 76 per cent clearance, and four-bedroom homes are close behind at 31 days. Curiously it is the three-bedroom market in the middle, at a median of $1.379 million, that is taking longest at around nine weeks despite clearing at 69 per cent. At the top, five-bedroom homes are clearing at 81 per cent, the strongest rate in the suburb.
The apartment market near the station and the shopping precinct is the volume engine, with two-bedroom units the single busiest segment in the suburb and turning over in about a month. The lesson for owners is that pace here follows pricing, not price bracket.
Median sale price for houses in Moonee Ponds is $1,458,000, up 4.9% from last year.
Median sale price for units in Moonee Ponds is $535,000, down 3.0% from last year.
Properties sold for houses in Moonee Ponds is 236, up 15.7% from last year.
Properties sold for units in Moonee Ponds is 278, up 6.9% from last year.
Auction clearance for houses in Moonee Ponds is 68.2%, up 7.3% from last year.
Auction clearance for units in Moonee Ponds is 62.5%, up 33.9% from last year.
Av days on market for houses in Moonee Ponds is 44, down 6.4% from last year.
Av days on market for units in Moonee Ponds is 30, down 28.6% 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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