Harcourts City Residential
In this report, Dionne Wilson has prepared an overview of all sales & rental transactions* for 234 Flinders Lane, for the 2008/2009 financial year along with extra details about the building and a forecast for the year ahead.
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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:*
36/234 March 09 $ 175,000
No other sales recorded
RENTAL RESULTS – Financial 08-09:*
Dec 09 Fully Furnished $ 450 pw
No other rentals recorded
THREE MOST RECENT SALE RESULTS*
36/234 March 09 $175,000**
66/234 Apr 08 $830,000
62/234 Jan 08 $395,000
**Result previously reported
Brief History: The land was first sold in 1837 to, John McNaughton who built on the land 1839. In 1877 a four-storey building was constructed including a shed and yard. In 1888 another four-storey building was added to the land by William Watson & Sons Ltd. The current seven storey building was completed in 1905
Facilities: Security entrance
Very central CBD location with only a short walk to cafes, shops and restaurants
Demographics: An exclusive block, 234 Flinders lane has a good mix of owner occupied and investors. 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.
234 Flinders Lane 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.
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 have started to make a comeback in 2010 with 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.