115 Swanston St, Capitol Building – End of Financial Year Report July 08- Dec 09

Harcourts City Residential

In this report, Dionne Wilson has prepared an overview of all sales & rental transactions* for 115  Swanston St, for half year 2009  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  Jul  08- Dec 09

Apartment Sales in Melbourne:        1753

Clearance Rate in Melbourne:          79%
Average Sale Price in Melbourne:   
$503,347

SALES RESULTS –  Half year July 08- December 09

508/115     Dec 09         1 Bed        1 Bath     48 sq m      $320,000

301/115     Nov 09         ? Bed         ? Bath     43 sq m      $ 260,000

504/115     Aug 09         ? Bed         ? Bath     76 sp m      $463,000

807/115     Jul 09           1 Bed        1 Bath     50 Sq m      $313,000

No other sales recorded during this period

RENTAL RESULTS – Half year July 08- December 09

505/115            Oct 09   1 Bed    1 Bath   51 Sq    $500 pw

?/115                Aug 09  1 Bed    1 Bath   ?           $400pw fully furnished

Facilities:

Security entrance

Very central CBD location with only a short walk to cafes, shops and restaurants

Demographics: The Capitol Building was built in 1924 in the Chicargoesque style at 115 Swanston St & is one of the most beautiful examples of quality Art Deco architecture in Melbourne and one of the most sort after.   The building has a good mix of owner occupiers 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.

115 Swanston 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:

 

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

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