Romsey offers one of the deeper markets in this update, with genuine activity across every bracket. Three-bedroom houses are trading at $739,000 with 36 sales this year, and four-bedroom family homes at $892,000 with 41 sales, both sitting inside the $600,000 to $1 million range performing strongest right now across the wider area.
Five-bedroom homes are trading in smaller numbers at the top of the market, while apartments are proving a genuine option too, with three-bedroom units at $553,750 and steady interest across one and two-bedroom stock. With 86 per cent of homes owner-occupied, this remains a settled, family-oriented town.
Buyers here want established homes with room to entertain, and both first-home buyers and family upsizers are active across the price spectrum. With this much depth in the middle of the market, it is a genuinely good time to be trading up in Romsey right now.
Median sale price for houses in Romsey is $835,000, up 3.6% from last year.
Median sale price for units in Romsey is $530,000, down 5.4% from last year.
Properties sold for houses in Romsey is 88, up 7.3% from last year.
Properties sold for units in Romsey is 24, up 41.2% from last year.
Auction clearance for houses in Romsey is 42.9%, up 114.3% from last year.
Av days on market for houses in Romsey is 41, down 32.8% from last year.
Av days on market for units in Romsey is 40, up 0.0% from last year.
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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