Tootgarook's family homes are moving at a steady, healthy pace. Three-bedroom houses are trading at $803,000 with 42 sales this year in around five weeks, and four-bedroom homes are close behind at $1.08 million, clearing even faster at just over four weeks, a genuinely strong result for that bracket.
Two-bedroom houses round out a smaller share of the market, while five-bedroom homes above $1 million are trading in similar numbers to the four-bedroom bracket. Buyers across every level are favouring solid, structurally sound homes over flashy cosmetic updates, consistent with the mood right along this stretch of coast.
With demand a touch quieter but available stock lower too, well-presented homes priced to the current market are still finding genuine buyers quickly. Tootgarook's pace, especially in the family brackets, remains one of the more consistent results across this update.
Median sale price for houses in Tootgarook is $887,500, up 4.4% from last year.
Properties sold for houses in Tootgarook is 98, up 19.5% from last year.
Properties sold for units in Tootgarook is 4, up 300.0% from last year.
Auction clearance for houses in Tootgarook is 73.3%, up 22.2% from last year.
Av days on market for houses in Tootgarook is 35, down 43.5% 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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