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In this report, Dionne Wilson has prepared an overview of all sales & rental transactions in 24-30 Russell St for the 2008/2009 financial year along with extra details about the complex & a forecast for the year ahead.
Apartment Overview Fin Year 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:
61/30 Russell St Oct 09 1 Bed 1 Bath $290
RENTAL RESULTS – Financial Year 08-09:
43/24-30 Russell St Nov 09 2 Beds 2 Baths $500 pw
71/24-30 Russell St Sep 09 1 Bed 1 Bath Undisclosed
54/24-30 Russell St Jun 9 1 Bed 1 Bath $350 pw
Brief history of land: The land was original subdivided in 1840, and was built on in 1866. In 1877 a 3 storey house, garden, yard and shed were built on land.1905 the house was replace with the 5 storey building you see today.
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 & leave city base. 24-30 Russell St also houses some international owners and students.
Forecast for the 09-10 Financial Year: Dependant on bank interest rates, we could experience a leveling of the market in 2010 in the pre $500,000 range. Investors are already starting to make a comeback in 2010 with the first home owners lose their puff and buying power.
For further information on this, or any other property needs you may have, please contact:
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.