Notting Hill's apartment market is doing much of the heavy lifting again this month, reflecting the suburb's proximity to Monash Medical Centre and the university precinct. One-bedroom units are clearing in just 17 days at $320,000, and two-bedroom units are moving at the same pace at $460,550.
Houses are a smaller part of the mix here, though three-bedroom homes are clearing strongly at 80 per cent, with 11 sales this year above $1.17 million. Four and five-bedroom homes trade in much smaller numbers, reflecting the suburb's more compact housing stock and land constraints.
With 58 per cent of homes rented rather than owned, this remains an investor and renter-driven market. Buyers and tenants alike want move-in ready properties close to transport, cafes and the medical precinct, and well-presented apartments in particular are finding buyers quickly and at genuine prices.
Median sale price for houses in Notting Hill is $1,171,000, up 1.5% from last year.
Median sale price for units in Notting Hill is $429,000, up 22.6% from last year.
Properties sold for houses in Notting Hill is 18, down 43.8% from last year.
Properties sold for units in Notting Hill is 51, down 23.9% from last year.
Auction clearance for houses in Notting Hill is 63.2%, down 31.6% from last year.
Auction clearance for units in Notting Hill is 75.0%, down 25.0% from last year.
Av days on market for units in Notting Hill is 17, down 37.0% from last year.
$1,720,000
$1,560,000
$1,171,000
$1,152,500
$1,120,000
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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