Chetwynd Street, North Melbourne End of Financial Year Review

Chetwynd Street, North Melbourne

Sitting snugly between Victoria Parade and the roundabout of Wreckyn Street, Chetwynd Street North Melbourne is a small cul-de-sac consisting of contemporary apartment buildings, commercial buildings and older style Victorian homes. It is close to public transport along Victoria Parade and has great amenities along Erroll Street.

North Melbourne is located 2 km north-west of the CBD. The north-eastern part of the neighbourhood is predominantly residential, while the western part is more industrial. North Melbourne also features the North Melbourne Cricket Ground, RMIT School of Design and Printing. The suburb has almost 20% of its population comprised of tertiary students.

Top Sale in Financial Year 08-09: 93 Chetwynd Street $800000

Bottom Sale in Financial Year 08-09: 3/173 Chetwynd Street $550000

Number of Transactions in North Melbourne: 83

Number of Auctions in North Melbourne: 49

Number of Auctions Sold in North Melbourne: 49

Clearance Rate in North Melbourne: 100%

Average Apartment Sale Price: $410,000

Average Home Sale Price: $578,500

Sold:

1/173 Chetwynd Street 2 br $596000

90 Chetwynd Street 3 br house $800000

3/173 Chetwynd Street 2 br $550000

Leased:

71 Chetwynd Street 2 br house $420 per week

99 Chetwynd Street  4 br house $550 per week

Demographics: A strong mix of owner occupiers and students in the apartment buildings such as 173 Chetwynd Street built by Conor, Pincus & Saunders http://www.cpands.com.au/project_residential.asp

Forecast for the 09-10 Financial Year: We envisage that continuing first home owner interest and buying power will keep the market buoyant in North 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

For further information on this, or any other property needs you may have, please contact:

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Dionne Wilson

Director – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0417 318 705

E: dionne.wilson@harcourts.com.au Web: www.cityresidential.harcourts.com.au

*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.

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