Westmeadows' village character and parkland edges keep buyers engaged this month. Families and first home buyers who value the established feel and the relative affordability tend to have already decided on the pocket.
As a value-end suburb, Westmeadows sits in the more active part of the market. Entry and mid-level family homes are the steadier performers across the wider area, while it is the premium end elsewhere that softens.
Owners who present well and anchor their price to recent comparable sales are the ones seeing offers. The buyers here are genuine and need-driven, and a realistically priced, well-presented home is meeting them.
Median sale price for houses in Westmeadows is $741,000, up 14.4% from last year.
Median sale price for units in Westmeadows is $612,500, up 2.9% from last year.
Properties sold for houses in Westmeadows is 114, up 21.3% from last year.
Properties sold for units in Westmeadows is 28, up 12.0% from last year.
Auction clearance for houses in Westmeadows is 79.2%, down 10.1% from last year.
Auction clearance for units in Westmeadows is 100.0%, up 15.4% from last year.
Av days on market for houses in Westmeadows is 33, up 3.1% from last year.
Av days on market for units in Westmeadows is 39
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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