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
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:
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