Welcome to your first End of Financial Year report for 1 Powlett Street, East Melbourne from Harcourts City Residential.
You can find this and our many other blogs at http://harcourtscityresidential.wordpress.com/
In this report, Dionne Wilson has prepared an overview of all sales & rental transactions in the 1 Powlett Street development for the 2008/2009 financial year along with extra details about the complex & a forecast for the year ahead.
East Melbourne (Residential Apartment):
Top Reported Sale in Financial Year 08-09: 94 Hotham St $3,475,000
Bottom Reported Sale in Financial Year 08-09: 4/20 Hotham St $235,000
East Melbourne Overview:
Number of Apartment Transactions in East Melbourne: 129
Number of Auctions in East Melbourne: 51
Number of Auctions Sold in East Melbourne: 47
Clearance Rate in East Melbourne: 92%
Average Sale Price in East Melbourne: $494,157
SALES RESULTS FOR 1 POWLETT STREET, YEAR 08/09:
101/1 Powlett Street 2 bedroom $520,000.00
306/1 Powlett Street 2 bedroom $730,000.00
RENTAL RESULTS FOR 1 POWLETT STREET, YEAR 08/09:
805/1 Powlett Street 2 bed, 2 bath undisclosed
207/1 Powlett Street 2 bed, 1 bath $470.00 pw
206/1 Powlett Street 2 bed, 1 bath $480.00 pw
*/ 1 Powlett Street 2 bed, 1 bath $620.00 pw
*/ 1 Powlett Street 2 bed, 2 bath $550.00 pw
*/ 1 Powlett Street 2 bed, 2 bath $500.00 pw
Details & Facilities: 1 Powlett Street is a stylish 14 Level north facing Nonda Katsalidis designed apartment building situated amongst Melbourne’s finest parklands, CBD’s shops, restaurants and public transport. The building features reverse cycle heating and cooling, full security, video intercom, lifts, basement parking and also gym and sauna facilities.
For more information about the building designer, Nonda Katsalidis, visit: http://en.wikipedia.org/wiki/Nonda_Katsalidis
Demographics: There is a great mixture of owners in the complex including young professionals, out of town investors, a more mature generation of owner occupiers as well as owners utilizing as a secure lock up & leave city base.
Date of 1st Settlement: August 1999
Number of Apartments in Block: Approximately 25
Construction Nearby Underway: 150 Clarendon Street (luxury high-end apartments in the former Mercy Hospital site), 1 East Melbourne (high end apartments in old train yard site next to 1 Powlett St on Wellington Parade South).
Forecast for the 09-10 Financial Year: We envisage that continuing first home owner interest and buying power will keep the market buoyant in East Melbourne for the remainder of 2009. Dependant on bank interest rates, we could experience a flattening of the market in 2010 in the plus $500,000 sector. Mum and Dad investors could well make a comeback in 2010 once first home owners lose their puff and buying power. 1 Powlett St offers a unique buying opportunity in an expensive blue chip neighbourhood which should cushion it from too many market fluctuations.
For further information on this, or any other property needs you may have, please contact:
Director – Harcourts City Residential
Ph: 03 9664 8100 Mob: 0417 318 705
*Harcourts City Residential has gathered this information to provide an interesting document for apartment owners and prospective purchasers. Harcourts City Residential may not have affected any or all of the transactions noted; rather we’ve gathered as much market information as possible on ALL transactions to be as conclusive as possible.
Information contained herein is gathered from a range of sources including but not limited to; The Age Property Results, The Herald Sun Property Results, Valuer General Information & Agents own investigations. All efforts are made to verify the information provided. The information is not to be relied upon or used in dealings with third parties and people should make their own investigations regarding their own property or personal circumstances. Opinions offered are just that, our opinions & observations and should not be treated as fact.
If your property is exclusively listed with another agent please disregard this communication.