Mount Macedon operates at the premium end from the ground up. Even three-bedroom homes are trading at $1.38 million, with 11 sales this year taking an average of nine weeks, a sign of just how tightly held and elevated this pocket of the range is.
Four and five-bedroom homes are trading in smaller numbers, eight sales combined, and volumes are too low here for a dependable median at that end. Buyers drawn to Mount Macedon want established gardens, mature landscaping and genuine entertaining space, qualities the suburb has built its reputation on over many years.
With 90 per cent of homes owner-occupied, very little comes up for sale in any given month. The conservative pace at the luxury end seen across the wider area is simply the everyday rhythm here, and sellers can expect a smaller but highly considered pool of buyers for anything well presented and priced to reflect the setting.
Median sale price for houses in Mount Macedon is $1,405,000, up 11.3% from last year.
Properties sold for houses in Mount Macedon is 24, up 71.4% from last year.
Auction clearance for houses in Mount Macedon is 50.0%
Av days on market for houses in Mount Macedon is 76, down 46.5% from last year.
$1,405,000
$1,085,000
$1,076,500
$1,015,000
$880,000
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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