Yarraville's period homes and the beloved village centre keep demand steady this month. Buyers are drawn by the character stock and the community feel, and those attending opens tend to have already committed to the area.
The market is measured. Buyers are comparing carefully and making considered offers in line with recent sales, so realistic pricing converts interest into results. Period family homes are the standout, with steady inquiry from families and professionals.
Owners who present their homes well and price to recent comparable sales are achieving results. In a considered market, preparation and realistic pricing make the difference.
Median sale price for houses in Yarraville is $1,160,000, up 4.5% from last year.
Median sale price for units in Yarraville is $600,000, up 7.1% from last year.
Properties sold for houses in Yarraville is 286, down 4.3% from last year.
Properties sold for units in Yarraville is 77, down 1.3% from last year.
Auction clearance for houses in Yarraville is 73.3%, up 6.6% from last year.
Auction clearance for units in Yarraville is 70.6%, up 10.9% from last year.
Av days on market for houses in Yarraville is 46, down 8.0% from last year.
Av days on market for units in Yarraville is 32, down 17.9% 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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