33 Wreckyn Street End of Financial Year Review

This week, Dionne will focus on contemporary low rise apartment block 33 Wreckyn Street, North Melbourne

33 Wreckyn Street, North Melbourne

Located in the heart of North Melbourne, this double basement low rise residential tower was designed by award winning Buckerfield architects. Offering modern style with open kitchen and living facilities with views old North Melbourne. .  In total there are approximately 45 residences all with bathroom, balcony and laundry facilities in the premises. The building has a high security level and all apartments come with secure off street basement parking. The location to all of the cities services and major hospitals and educational institutions make this building a popular choice.

Top Sale in Financial Year 08-09: 307/33 Wreckyn Street $335,500

Bottom Sale in Financial Year 08-09: 407/33 Wreckyn Street $309,000

Number of Apartment Transactions at 33 Wreckyn St, North Melbourne: 8

Number of Auctions: 1

Number of Auctions Sold: 1

Clearance Rate: 100%

Average Sale Price: $327,500

Sold:

307/33 Wreckyn Street $335,500

504/33 Wreckyn Street $325,000

402/33 Wreckyn Street $329,000

507/33 Wreckyn Street $335,000

407/33 Wreckyn Street $309,000

Leased:

305/33 Wreckyn Street $430 per week

402/33 Wreckyn Street $410 per week

501/33 Wreckyn Street $350 per week

203/33 Wreckyn Street $320 per week

409/33 Wreckyn Street $350 per week

Body Corporate Fees: Hallmarc Body Corporate http://www.hallmarc.com.au/

Compared to many other body corporates in the local area, the fees for The Sinclair apartments are fairly low. This is because there is a lift for the building, but no extra amenities such as pools or gyms.

Facilities: Lift.

There is also the tramline into the city on Elizabeth Street and along Victoria Parade, and the property is located very close to the Victoria Market.. It is only a couple of blocks away from Erroll Street with its supermarket as well as the local cafes.

Demographics: Since original settlement, we have seen the slow but steady shift of higher occupancy rates by owners. The demographic is mostly single young professional.

Year of Build: March 2005

Architects: Buckerfield Architects

www.buckerfield.com.au

Number of Apartments in Block: Approximately 45

Construction Nearby Underway: 18 Wreckyn Street, Leedon – a mixture of residential and commercial downstairs. Being built by Metacorp. One bedrooms through to two bedrooms plus study townhouses.

http://www.leedon.com.au/

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. 33 Wreckyn Street offers a unique buying opportunity in an undervalued 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:

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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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