Riddells Creek's four-bedroom homes are carrying the volume this month, with 31 sales at just over $1.2 million in around eight weeks. Three-bedroom houses are the more affordable entry point at $765,000, with 19 sales in a brisk six weeks, sitting right inside the $600,000 to $1 million band performing strongest across the area right now.
Five-bedroom homes are trading in smaller numbers at the top of the market, while three-bedroom units are proving a genuine alternative at $630,000. Buyers here are drawn to homes with room to entertain and established gardens, in keeping with what's driving demand across the wider Macedon Ranges.
With 90 per cent of homes owner-occupied, this remains a settled family town. First-home buyers and upsizers are both active, and with the four-bedroom bracket clearing steadily, it is a good time for anyone considering the move up to a larger home.
Median sale price for houses in Riddells Creek is $1,076,500, up 21.0% from last year.
Median sale price for units in Riddells Creek is $615,000, down 1.6% from last year.
Properties sold for houses in Riddells Creek is 54, down 3.6% from last year.
Properties sold for units in Riddells Creek is 12, down 36.8% from last year.
Av days on market for houses in Riddells Creek is 56, down 9.7% from last year.
$1,405,000
$1,076,500
$980,000
$880,000
$835,000
$720,000
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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