Median sale price for houses in West Melbourne is $1,250,000, up 3.3% from last year.
Median sale price for units in West Melbourne is $530,000, up 0.0% from last year.
Properties sold for houses in West Melbourne is 37, up 2.8% from last year.
Properties sold for units in West Melbourne is 288, down 5.9% from last year.
Auction clearance for houses in West Melbourne is 57.1%, up 14.3% from last year.
Auction clearance for units in West Melbourne is 55.6%, down 14.1% from last year.
Av days on market for houses in West Melbourne is 67, up 21.8% from last year.
Av days on market for units in West Melbourne is 45, down 11.8% from last year.
For property investors, a rental increase can strengthen cash flow and help an investment keep pace with the market. But the amount is only part of the equation. Timing, tenancy history and the terms of the rental agreement can determine whether that increase is available now—or months down the track.
The Reserve Bank's decision to increase the cash rate by 25 basis points to 4.85 per cent is disappointing for mortgage holders, but hardly unexpected given the latest inflation figures.
A tired kitchen. Worn carpet. Walls that have seen better days. When an investment property becomes vacant, it can be tempting to renovate everything at once.
Would you hand the keys to your brand-new car to someone you barely know without making sure it was insured? It's a question we often ask investors when discussing landlord insurance.
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