End of Financial Year Report 08-09 – 234 Flinders Lane – Manchester House

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. 

You can find this and more Real Estate blogs at http://harcourtscityresidential.wordpress.com/ 

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:

 

Dionne Wilson

Business owner and director – Harcourts City Residential

Ph: 03 9664 8100          Mob: 0417 318 705

Email: 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.

Leave a Reply