Median sale price for houses in Richmond is $1,310,500, down 5.0% from last year.
Median sale price for units in Richmond is $535,000, up 3.3% from last year.
Properties sold for houses in Richmond is 403, up 5.2% from last year.
Properties sold for units in Richmond is 443, up 14.5% from last year.
Auction clearance for houses in Richmond is 68.1%, down 1.7% from last year.
Auction clearance for units in Richmond is 69.4%, up 7.7% from last year.
Av days on market for houses in Richmond is 46, up 7.0% from last year.
Av days on market for units in Richmond is 28, down 17.6% from last year.
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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