2008-2009 Financial Year Report
1 Exhibition St, Melbourne
Harcourts City Residential
In this report, James Edmundson has prepared an overview of all sales & rental transactions* for 1 Exhibition St, for the 2008/2009 financial year along with extra details about the building and a forecast for the year ahead.
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1 Exhibition St, Melbourne FY 08-09
Top Reported Sale: 0
Bottom Reported Sale: 0
Number of Auctions: 0
Auction Clearance Rate: NA
Number of Private Sales: 0
Melbourne Apartment Overview FY 08-09:
Apartment Sales in Melbourne: 1753
Clearance Rate in Melbourne: 79%
Average Sale Price in Melbourne: $503,347
SALES RESULTS – Financial Year 08-09:*
No sales were reported for the financial year 08-09
RENTAL RESULTS – Financial Year 08-09:*
Sep 09 1 bed 1 bath Renovated and furnished $450
Dec 08 1 bed 1 bath Original condition $300
Sep 08 1 bed 1 bath Original and furnished $350
Facilities: Security entrance and Lift.
Demographics: An exclusive block of just 24 units 1 Exhibition Street is a majority owner occupied building. The property is especially well suited for dual occupiers wishing to use the unit as a second home, it is also of interest to people looking to live and work from the city especially young professionals with many of the rentals being offered fully furnished.
Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point.
1 Exhibition St Forecast for the 09-10 Financial Year: Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates we envisage that continuing first home owner interest and buying power will keep the market buoyant in Melbourne for the remainder of 2009.
With interest rates tipped to continue to rise, we could experience a leveling of the general market in 2010 particularly in the pre $500,000 range. Investors may well make a comeback in 2010 once first home owners lose their puff and buying power.
Sales Consultant – Harcourts City Residential
Ph: 03 9664 8100 Mob: 0411 456 770
Disclaimer: Disclaimer: *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