Milano – 8 Franklin St & Verve – 483 Swanston St, Melbourne – Market Summary – July 09 –December 09

Well, we moved through the Global Economic Crisis counting our blessings and relatively unscathed in-fact our market went from strength to strength in the second half of last year. We were obviously well stimulated with the record low interest rates and the increased first home owners grant (FHOG) and that assisted us in setting several new records in terms of prices achieved for apartments throughout the inner city areas as first home buyers clambered to secure the increased incentives before they were cut back in October and again in December.

The lower to mid market was strongest in the second half of the year however we did see a huge return of confidence to the upper end of the market as interest rates started to rise again bringing with it a feeling that we were over the worst of the financial crisis.

Market Forecast – The year ahead 2010

We expected to see possible leveling of the market as the increased first home owners incentives ceased and as interest rate speculation caused nerves in the market. However this has not been the case. The market has started much stronger than we’d anticipated, we’ve again had several record setting prices achieved and our company reported a record month overall. We have seen a change in the demographic of the buyer which was expected. There has been a definite return to the market by investors, they’d been pushed out of the market by the frenzy of first home buyers but are now back in the market on a more level playing field. We now expect we’ll see an upward swing of figures for the first half 2010. 

8 Franklin St & 483 Swanston St, Melbourne  

Top Reported Sale in Financial Year July 09 – December 09:    $668,888

Bottom Reported Sale in Financial Year July 09 – December 09:  $201,500

Number of Auctions:                0

Auction Clearance Rate:           N/A

Number of Private Sales:          23

Average Sale Price in both buildings: $445,000 

SALES RESULTS FOR 8 FRANKLIN STREET, July o9 – December 09:

2701/8 Franklin St            2Bed            2Bath           2Car             $575,000

2909/8 Franklin St            1Bed            1Bath                              $285,000

2808/8 Franklin St            1Bed            1Bath           ?Car             $408,000

3509/8 Franklin St            1Bed            1Bath                              $280,000

1009/8 Franklin St            1Bed            1Bath           Study           $375,000

2804/8 Franklin St            3Bed            2Bath           1Car             $668,888

488/8 Franklin St              3Bed            2Bath           ?Car             $625,000

3104/8 Franklin St            3Bed            2Bath           ?Car             $625,000

1311/8 Franklin St            1Bed            1Bath                              $201,500

1402/8 Franklin St            1Bed            1Bath                              $201,500              

1201/8 Franklin St            1Bed            1Bath                              $201,500

1111/8 Franklin St            1Bed            1Bath                              $201,500

1301/8 Franklin St            1Bed            1Bath                              $201,500     

1302/8 Franklin St            1Bed            1Bath                              $201,500

1002/8 Franklin St            1Bed            1Bath                              $201,500

801/8 Franklin St               1Bed             1Bath                              $201,500

1401/8 Franklin St              1Bed            1Bath                              $201,500 

RENTAL RESULTS FOR 8 FRANKLIN STREET, July 09 – December 09:

3005/8 Franklin St            2Bed            2Bath           1Car             $495 p/w

1607/8 Franklin St            2Bed            2Bath                              $600 p/w Fully Furnished

To discuss any of your property management options or if you would like a rental appraisal on your property please contact Dionne Wilson of Harcourts City Residential – 9664 8100

SALES RESULTS FOR 483 SWANSTON STREET, July 09 – December 09:

705/483 Swanston St                 2Bed            1Bath                              $450,000

1108/483 Swanston St               1Bed            1Bath                              $375,000

3202/483 Swanston St               2Bed            1Bath           ?Car             $560,000

2708/483 Swanston St               1Bed            1Bath           1Car             $470,000

1404/483 Swanston St               1Bed            1Bath           1Car             $430,000

2007/483 Swanston St               2Bed            ?Bath           ?Bath           $645,000

To discuss how much your property is worth in today’s market, please feel free to contact me on 0411 096 792.  

*NOTE: Rentals might have occurred but may not have been recorded.

 For the 2008-2009 finacial year report please visit    http://wp.me/py25G-3L 

For further information on this, or any other property needs you may have, please contact:

  

Dionne Wilson

Director – Harcourts City Residential

Ph:               03 9664 8100         03 9664 8100          Mob:               0417 318 705         0417 318 705

Email: dionne.wilson@harcourts.com.au           

Web: www.dionnewilson.harcourts.com.au

            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

2 thoughts on “Milano – 8 Franklin St & Verve – 483 Swanston St, Melbourne – Market Summary – July 09 –December 09

  1. Please let me have update 2 bedrooms + 2 bathroom apartment around mid of May in Melbour near city or Cartlon. Thanks

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