Strathmore's leafy streets, period homes and strong schools keep demand steady this month. Buyers are drawn by the character stock and the family-friendly reputation, and those attending opens tend to know the pocket well.
As one of the office's more prestige-leaning suburbs, Strathmore feels the wider pattern where larger and premium homes take longer to sell. Neighbouring Essendon's four-bedroom houses at 52 per cent and around 11 weeks illustrate it. Entry and mid-level homes move faster.
Owners who present their homes well and price off recent comparable sales are the ones generating offers. The character and schools sell the suburb, but at the family-home end, realistic pricing sells the home.
Median sale price for houses in Strathmore is $1,475,000, down 6.9% from last year.
Median sale price for units in Strathmore is $667,500, up 1.7% from last year.
Properties sold for houses in Strathmore is 153, down 0.6% from last year.
Properties sold for units in Strathmore is 31, down 3.1% from last year.
Auction clearance for houses in Strathmore is 61.3%, up 4.5% from last year.
Auction clearance for units in Strathmore is 54.5%, up 3.0% from last year.
Av days on market for houses in Strathmore is 71, up 14.5% from last year.
Av days on market for units in Strathmore is 57, down 5.0% 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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