Median sale price for houses in Preston is $1,065,000, down 0.5% from last year.
Median sale price for units in Preston is $529,000, up 1.7% from last year.
Properties sold for houses in Preston is 520, up 7.4% from last year.
Properties sold for units in Preston is 420, down 1.2% from last year.
Auction clearance for houses in Preston is 67.6%, down 1.8% from last year.
Auction clearance for units in Preston is 71.2%, up 13.6% from last year.
Av days on market for houses in Preston is 50, up 19.0% from last year.
Av days on market for units in Preston is 35, down 7.9% from last year.
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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