West Footscray has recorded the sharpest house price growth in this update, up 15.3 per cent this year to $960,000. Clearance has climbed sharply too, up 16.0 per cent to 71.2 per cent, even as sales volume held essentially flat at 146 houses sold across the year.
The apartment market is more measured, with unit sales down 8.3 per cent to 77, though prices have held steady at $425,000. Days on market for units have improved though, down 23.4 per cent to 36 days, while houses have eased slightly, up 4.1 per cent to 51 days.
That combination of strong price growth and rising clearance for houses is a genuinely encouraging signal, and points to West Footscray as one of the standout performers in this update, particularly for well-presented family homes.
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.
Discover the hidden potential of your biggest asset — for free, in seconds. Choose an Instant Appraisal for immediate market value and suburb performance, or request an in-depth Agent Appraisal from our experienced local Woodards professionals.
No obligation. No pressure. Just clarity.
All of our agents have the experience and local knowledge to guide you
Whether selling or investing, an appraisal of value will give you the confidence to make an informed decision
Switch to Woodards Property Management
