The fundamentals remain consistent here, well-located apartments continue to draw more buyer interest than there is stock, and presentation matters more than ever in a market this apartment-heavy. Clean, well-run buildings with no owners corporation issues are consistently the fastest to sell.
Two-bedroom units account for the overwhelming majority of sales, at a median of $370,000, up 5.0 per cent year on year, with 103 sales this year, up a strong 25.6 per cent. That accessible price point is exactly why investors keep circling, with close to two thirds of residents renting and rental demand holding firm.
Interstate investors in particular are drawn to older-style two-bedroom apartments like these, and with the most active price band under $700,000, Travancore sits squarely in that zone. Buyers here want stability before they commit, and a well-presented apartment priced to the evidence continues to meet the market quickly.
Median sale price for units in Travancore is $370,000, up 5.0% from last year.
Properties sold for houses in Travancore is 9, down 25.0% from last year.
Properties sold for units in Travancore is 103, up 25.6% from last year.
Auction clearance for houses in Travancore is 85.7%, up 17.9% from last year.
Auction clearance for units in Travancore is 75.0%, down 25.0% from last year.
Av days on market for units in Travancore is 33, 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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