Median sale price for houses in Melbourne is $472,000
Median sale price for units in Melbourne is $440,000, down 17.0% from last year.
Properties sold for houses in Melbourne is 16, up 166.7% from last year.
Properties sold for units in Melbourne is 2,067, down 15.1% from last year.
Auction clearance for houses in Melbourne is 80.0%, down 20.0% from last year.
Auction clearance for units in Melbourne is 56.4%, up 12.7% from last year.
Av days on market for units in Melbourne is 44, down 20.0% from last year.
$2,925,000
$2,425,000
$1,870,000
$1,820,000
$1,749,000
$1,700,000
$1,595,000
$1,450,000
$1,412,500
$1,310,500
$1,305,000
$1,295,000
$1,242,500
$1,200,000
$472,000
Buying an investment property is exciting. Between finance, contracts, building inspections and settlement, there is a lot happening in a relatively short period of time.
A residential rental provider can increase the rent in Victoria, but increasing the rent is no longer as simple as choosing a new weekly amount and giving the renter notice.
When a renter gives notice that they are moving out, it starts one of the most important periods in the management of an investment property.
The Reserve Bank’s decision to lift the cash rate by 25 basis points to 4.6 per cent is not ideal as Melbourne moves through the middle of its spring selling season and will place further pressure on household budgets.
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