New Gisborne is where a lot of the area's upsizer activity is landing this month. Three-bedroom houses are trading at $852,500 with 14 sales this year, and four-bedroom family homes are close behind at $915,000 in a brisk seven weeks, both firmly inside the $600,000 to $1 million band that is moving fastest right now.
Two and five-bedroom homes round out the market in smaller numbers, with buyers at both ends showing genuine interest once a home presents well. Apartments remain a very minor part of this suburb, with only a handful of sales recorded.
With close to three in five households here families, buyers want homes with entertaining areas and established landscaping rather than a blank canvas. First-home buyers and family upsizers are both active, and New Gisborne's pricing puts it right in the sweet spot driving the strongest time-on-market results across the wider area.
Median sale price for houses in New Gisborne is $880,000, up 1.7% from last year.
Properties sold for houses in New Gisborne is 35, up 25.0% from last year.
Properties sold for units in New Gisborne is 5, down 37.5% from last year.
Av days on market for houses in New Gisborne is 49, down 62.0% from last year.
$1,405,000
$1,085,000
$1,076,500
$980,000
$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.
Discover the hidden potential of your biggest asset — for free, in seconds. Choose an Instant Appraisal for immediate market value and suburb performance, or request an in-depth Agent Appraisal from our experienced local Woodards professionals.
No obligation. No pressure. Just clarity.
Find Gisborne’s Best Real Estate Agents at Woodards
All of our agents have the experience and local knowledge to guide you
Whether selling or investing, an appraisal of value will give you the confidence to make an informed decision
Switch to Woodards Property Management
