Harcourts City Residential
In this report, Dionne Wilson has prepared an overview of all sales & rental transactions* for 166 Flinders St, 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:*
401/166 July 08 2 Bed ? Bath $460,000
No other sales recorded in this period
RENTAL RESULTS – Financial 08-09:*
403/166 Feb 09 1 Bed 1 Bath $330 pw
204/166 July 08 1 Bed 1 Bath $350 pw
Features: A fantastic 1920’s heritage listed Cosmopolitan building boasting fabulous views over Federation Square
Demographics: 166 Flinders St has a strong owner occupied presents in the building a limited number of the apartments are owned by investors.
166 Flinders St 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:
Business Owner and Director – Harcourts City Residential
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