In this report, Dionne Wilson has prepared an overview of all sales & rental transactions* for 237-239 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:*
3B/237 Feb 09 2 Bed 2 Bath $ 550,000
No other sales recorded
RENTAL RESULTS – Financial 08-09:*
4C/237 Dec 08 1 Bed 1 Bath $ 430 pw
No other rentals recorded
Brief History: The land was sold in 1837 to John Hodgson. A four storey building was built Victorian It house the Soft Goods Association in 1905. The soft goods association club rooms held many events and meeting included numerous soldiers’ reunions.
Facilities: Boutique Block
Demographics: An exclusive boutique block, 237-239 Flinders lane has a good mix of owner occupied and investors. The building is much loved by all its occupants with many of its tenants later purchasing in the building.
237-239 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.
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*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.
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