With Spring in full bloom, both buyers and sellers are adjusting to recent changes in the residential property market with activity increasing along with the onset of warmer weather.
Spring listings are down from last year’s post-lockdown peak, however lower listing numbers are helping prop-up demand. Sellers took a more cautious approach in this year’s second quarter choosing to wait and see how higher inflation and interest rates would impact the property market. We have observed that buyer confidence is steadily increasing and many are now making decisions to move forward with selling. As certainty returns, we expect vendors whose price expectations are aligned with the current market will do well.
The local market
In Banyule, the median house price is $1,132,000 and units are $754,000. The Melbourne median house price is $1,080,000 and units are $671,000 for the second quarter*.
On the market
1-3 McDonald Avenue, Ivanhoe
Presents a rare and unique opportunity to purchase 1,535 m2 of land with absolute Darebin Creek frontage and uninterrupted bushland views. Peaceful, private and close to all of Ivanhoe’s blue-chip amenities.
11 Warne Street, Eaglemont
This elevated double-story family residence offers dual frontage from Outlook Drive and Warne Street on a generous m2 block with spectacular ranges views.
4 Elvin Street, Macleod
A fantastic weatherboard home with plenty of space for all the family including three bedrooms, a study or 4th bedroom, entertainment deck and huge garage with a home office.
Choosing the right team
Domain* recently reported homeowners are achieving a higher price on average by selling at auctions rather than accepting prior offers; however, every situation is unique which is why it is crucial to choose an experienced real estate team that offers expert guidance.
If you are thinking of bringing your property to market, talk to our experienced agents about Miles in-depth local knowledge. If you are thinking about buying, we are always here to discuss your needs and provide sound advice to help you achieve your property goals.
Upsizing or downsizing, first home buyers or investors, feel free to get in touch to discuss all of your property needs.
Request an obligation free appraisal click here or if you need more information about Miles Real Estate and to get in touch click here.
*https://reiv.com.au/market-ins...
*https://www.theage.com.au/prop...
