Macleod is a suburb in Melbourne situated 14 kilometers northeast from the Central Business District. It has a population of 9,606 as of 2011.
People wanting to live in Macleod have two options when buying a residential property. They can choose between houses (total of 3,495) and units (total of 1,682). As of May 2015, a three bedroom house was sold from $540,000 to $706,500. There were 39 properties available for sale and 29 properties available for rent.
The median property price for a house is $639,000 and $476,000 for a unit. In terms of rent, the weekly average for a house is $390 while the average for units is $385.
The most common type of dwelling structure in the suburb is a separate house (81.2%). There are also flats (9.8%) and semi detached/terrace (8.9%). Some 36 percent of residential properties in Macleod are fully owned while 22.6 percent are being rented.
More than half or 52.3% of residents are married and there are more young people living in the area aged between 20 and 39 followed by those in their 40s to those in their late 50s.
In the past year, 131 houses were sold in the suburb compared to 29 for units. The highest price paid for houses was $1.150 million while for units, the highest price paid was $706,500.
In terms of auction, the clearance rate was 78.2 percent for houses and 76.5 percent for units. Houses normally stay on the market for 58 days while units units stay on the market for 27 days.
For the past five years, the annual capital growth for houses was 8.71 percent and 27.14 for units. The long term growth trend is 7.9 percent for houses and 5.0 percent for units.
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By Wendy Chamberlain
Copyright 2015 | All Rights Reserved
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With a passion for all things real estate spanning 18 years, Wendy loves that her role as a
