Oakleigh East's three-bedroom homes are the clear volume leader this month, with 47 sales at $1.105 million and a solid 73 per cent clearance rate in around five weeks. Four-bedroom family homes are trading higher at $1.22 million, though clearance eases to 48 per cent as buyers become more selective at that level.
Apartments are performing well too, with three-bedroom units clearing at 83 per cent at $907,500, well ahead of the smaller two-bedroom segment at $637,000. Two and five-bedroom houses round out the rest of the market in modest numbers.
With just under half of local households families, buyers want flexible living spaces and genuine outdoor areas as much as proximity to schools and transport. Confidence remains cautious, but well-presented homes priced to the current market, particularly in the $700,000 to $1.2 million range, are still finding strong, genuine interest.
Median sale price for houses in Oakleigh East is $1,196,000, up 10.2% from last year.
Median sale price for units in Oakleigh East is $838,000, up 7.1% from last year.
Properties sold for houses in Oakleigh East is 97, up 14.1% from last year.
Properties sold for units in Oakleigh East is 55, up 41.0% from last year.
Auction clearance for houses in Oakleigh East is 62.4%, down 19.8% from last year.
Auction clearance for units in Oakleigh East is 87.5%, up 25.8% from last year.
Av days on market for houses in Oakleigh East is 39, down 2.5% from last year.
Av days on market for units in Oakleigh East is 36, down 12.2% from last year.
$1,560,000
$1,300,000
$1,282,000
$1,239,250
$1,196,000
$1,152,500
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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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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