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
1/173 Chetwynd Street 2 br $596000
90 Chetwynd Street 3 br house $800000
3/173 Chetwynd Street 2 br $550000
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:
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.