West Footscray's relative value and the Barkly Street village keep first home buyers and families engaged this month. Those who have compared neighbouring suburbs are finding this pocket accessible, and that is bringing genuine buyers to opens.
The market is measured. Buyers are doing their due diligence and making considered offers, rewarding homes priced to recent sales. Period homes and new townhouses are both seeing interest.
Owners who present well and anchor their price to recent comparable sales are the ones seeing offers. In a considered market, the realistically priced home finds its buyer.
Median sale price for houses in West Footscray is $960,000, up 15.3% from last year.
Median sale price for units in West Footscray is $425,000, up 0.2% from last year.
Properties sold for houses in West Footscray is 146, up 0.0% from last year.
Properties sold for units in West Footscray is 77, down 8.3% from last year.
Auction clearance for houses in West Footscray is 71.2%, up 16.0% from last year.
Auction clearance for units in West Footscray is 66.7%, down 1.6% from last year.
Av days on market for houses in West Footscray is 51, up 4.1% from last year.
Av days on market for units in West Footscray is 36, down 23.4% from last year.
$1,160,000
$1,075,000
$990,000
$960,000
$880,000
$800,000
$745,000
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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