Vermont is a house suburb through and through, and one of the most family-oriented in the area, with well over half of households being families and around eight in ten homes owner-occupied. Units barely feature here; this is a market of established homes that are held for the long term and don't come up for sale often.
The pattern in the numbers is a clean one. Three-bedroom houses near $1.15m are the most active and clearing at around two in three, four-bedroom homes near $1.415m ease into the low sixties, and five-bedroom homes above $1.571m are clearing at under half. In short, the larger the home, the more patience it currently asks for.
For owners of family homes here demand is steady and genuine, particularly at the three-bedroom entry point. If you are selling a larger home the buyer is there but more careful, and a price built on this year's sales is what wins them over.
Median sale price for houses in Vermont is $1,285,000, up 4.7% from last year.
Median sale price for units in Vermont is $853,000, up 3.1% from last year.
Properties sold for houses in Vermont is 138, down 5.5% from last year.
Properties sold for units in Vermont is 25, up 0.0% from last year.
Auction clearance for houses in Vermont is 63.3%, down 20.1% from last year.
Auction clearance for units in Vermont is 80.0%, up 4.0% from last year.
Av days on market for houses in Vermont is 47, up 62.1% from last year.
Av days on market for units in Vermont is 23
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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