2009 Building Report Update 265 Exhibition St, “Regency Towers”

Harcourts City Residential  

In this report, James Edmundson has prepared an overview of all sales & rental transactions* for 265 Exhibition St for 2009 along with extra details about the complex & a forecast for the year ahead.
 

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

265 Exhibition St, “Regency Towers”

 

Top Reported Sale: $1,125,000  

Bottom Reported Sale: $558,000  

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 –  Jan 09 – Jan 10*

Unit           Date            Size          Result  

1605/265   Oct 09            151 m2      $1,125,000  

2603/265   Sep 09            88 m2        $660,000  

2102/265   Sep 09            **             $570,000  

2810/265   Sep 09            109 m2      $930,000  

2803/265   Sep 09            88 m2        $565,000  

1709/265   Aug 09           98 m2        $695,100  

2408/265   Aug 09           ***           $577,000  

1010/265   Jun 09            ***           $1,100,000  

904/265     Jun 09            ***           $580,000  

809/265   May 09             ***           $558,000  

2903/265   May 09           **             $680,000  

2108/265   May 09           **             $565,000  

903/265     Apr 09            **             $590,000  

1002/265    Mar 09          **             $595,000  

2209/265    Mar 09          98 m2        $685,000  

3201/265    Feb 09           ****          $1,003,000  

2003/265    Feb 09           88 m2        $612,000  

2103/265    Jan 09           88 m2        $730,000  

   

RENTAL RESULTS – Jan 09 – Jan 10  

Unit                 Rent                 Date                Bed      Bath  

3002/265         $400 pw            24-12-2009       2          2  

804/265            $550 pw            20-10-2009       2          2  

2008/265          $500 pw            15-10-2009       2          2  

1903/265          $660 pw            22-09-2009       2          2  

1303/265           UNDISCLOSED   01-09-2009       2          2  

2301/265           $650 pw            13-08-2009       3          2  

UNDISCLOSED  $750 pw            10-08-2009       3          2  

1506/265           $600 pw            27-07-2009       1          1  

1002/265           $660 pw            08-07-2009       3          2  

3103/265           $850 pw            13-05-2009       3          2  

1009/265           $620 pw            08-05-2009       2          2  

2708/265           $570 pw            06-05-2009       2          2  

2906/265           $520 pw            27-04-2009       1          2  

1210/265           $800 pw            10-04-2009       3          2  

2008/265           $680 pw            23-02-2009       2          2  

2906/265           $440 pw            11-02-2009       1          1  

Facilities: security entrance, pool, exercise room, and secure parking.  

Demographics: Described as the “village in the sky” 265 Exhibition St caters to a well rounded mix of owner occupiers, Dual occupiers and rental tenants. The Regency Towers is known for its friendly social atmosphere, its great position, located at the Paris end of town, and the peace of mind it offers as a secure building. The property is of particular interest to people looking to live and work in the city especially young professionals as well as dual occupiers wishing to use the unit as a second home.  

 Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point.  www.thewindsor.com.au  

Artist impression

 

City Forecast for 2010:  

Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates, confidence is returning to the high end market.  

We envisage that continuing first home owner interest and buying power will keep the market buoyant in Melbourne for the remainder of 2009. 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 could well make a comeback in 2010 once first home owners lose their puff and buying power.  

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

James Edmundson  

Sales Consultant – Harcourts City Residential  

Ph: 03 9664 8100          Mob: 0411 456 770  

E: James.Edmundson@harcourts.com.au  

Web: www.cityresidential.harcourts.com.au  

 Disclaimer: *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

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