End of Financial Year Report 2009 – 2010: 250 Elizabeth Street, Melbourne

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VIEW BUILDING PARTICULARS & PREVIOUS REPORTS FOR 250 ELIZABETH STREET 

 

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‘Melbourne’ Apartment Sales Statistics

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‘250E’ Sales Statistics

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Building Comment:

The past 12 months have been extremely positive for 250E with prices up across the board and owners enjoying significant growth.

Owners who picked the right agents to sell their apartments enjoyed setting new record after new record. Unfortunately there were a few owners who selected agents who were not aware of just how well the building was performing and missed out on their maximum dollar, one poor owner missing out $50,000 when they sold their one bedroom apartment for $330,000 at the same time we sold an apartment slightly lower and smaller for $380,000 (see sales below)

We are also very proud and excited to announce that one of our last sales of the financial year not only smashed the previous building record it also marked a new milestone as the buildings first sale over $600,000 when we sold the beautifully presented 1714.

It hasn’t all been smooth sailing. Owners on the South/East, particularly the lower levels have been suffering with noise and dust associated with the redevelopment next door. We hope it draws to a close swiftly for those owners and tenants affected.

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Reported Sales Financial Year 2009-2010

Month Apartment Beds Size m2 Car Price
Jun. 2010 1714 2 86 Yes $600,100*
May. 2010 1211 1 56 $382,600*
Apr. 2010 2215 1+S 64 $380,200
Mar. 2010 2009 2 85 Yes $545,000
Mar. 2010 2103 2 82 $450,000
Feb. 2010 1713 1 57 $330,000
Feb. 2010 2507 2 75 $450,000*
Jan. 2010 1310 1 57 $380,000*
Dec. 2009 2208 2 74 $430,000
Dec. 2009 2006 2 74 Yes $508,800*
Dec. 2009 1106 2 74 $450,000
Dec. 2009 2303 2 82 $485,000
Nov. 2009 1903 2 82 Yes $435,000
Oct. 2009 2403 2 82 $465,000
Oct. 2009 1603 2 82 Yes $501,201
Oct. 2009 1513 1 57 $350,000
Sep. 2009 1315 1+S 64 $350,000
Sep. 2009 2515 1+S 64 $360,000
Sep. 2009 1904 1+S 64 $369,000
Sep. 2009 2415 1+S 64 $325,000
Aug. 2009 1202 2 74 $450,000
Jul. 2009 2511 1 56 $325,000
Jul. 2009 1508 1 59 $320,000

Items in blue are Harcourts City Residential sales.

*Denotes Harcourts City Residential record sale, for that layout, at the time of sale.

*Denotes building record and first sale for the building over $600,000 at the time of sale.

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Buyer Profiles

Over the past 12 months the most common buyer profiles buying in the building have been First Home Buyers, Emotional Investors & Peid-A-Terre buyers

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Dionne Says Do Not Miss…….

I love the super central location of the 250E it’s in such a well established part of the city with quick and easy access to all of Melbourne’s interesting laneways, fantastic shopping, the theatres, sports and well…. everything!

My favorite aspect is that even if it’s a cold, rainy day you can still get out and about without leaving the comfort and warmth of the indoors. With the rear of the building directly accessing Myer there’s no need for the winter blues!

I also love the facilities in the building, so often we see facilities advertised that are almost more of an embarrassment to their building than a feature. I love seeing how pleasantly surprised people are when we take them for a tour of the exceptional facilities 250E boasts.

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What our Vendors say…….

“Thank you again for all your assistance over the past few weeks. You have been able to assist us in achieving a result that we are extremely happy with. The whole process we have felt as if we were your only client and that the result was as important to you as us. Your service and professionalism has been amazing so we appreciate the assistance, again……. We could not have been happier with the process”.

Andrew – Recent Vendor

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For more testimonials from past, present and potential clients from both sale & leasing please visit – http://harcourtscityresidential.wordpress.com/testimonials/

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Reported Rentals

Month Apartment Bedrooms Size m2 Car Rent P/Week
Jun. 2010 1510 1 57 $450
Jun. 2010  – 2  –  – $530
Jun. 2010 2212 1 56 $440
May. 2010  – 1  –  – $400
May. 2010  – 1  –  – $420
Apr. 2010  – 2  –  – $525
Apr. 2010 1512 1  56 $480
Mar. 2010 1811 1  56 $425
Mar. 2010 1912 1  56 $430
Mar. 2010  – 2  –  – $520
Mar. 2010  – 2  –  – $530
Feb. 2010  – 2  –  – $520
Feb. 2010  – 2  –  – $500
Feb. 2010  – 2  –  – $520
Jan. 2010  – 1  –  – $420
Jan. 2010  – 2  –  – $525
Jan. 2010  – 1  –  – $400
Jan. 2010  – 1  –  – $520
Jan. 2010  – 1  –  – $410
Dec. 2009  – 2  –  – $495
Dec. 2009  – 1  –  – $410
Dec. 2009  – 2  –  – $540
Dec. 2009  – 1  –  – $410
Nov. 2009  – 1  –  – $410
Nov. 2009  – 1  –  – $410
Nov. 2009  – 1  –  – $600
Nov. 2009  – 1  –  – $520
Nov. 2009  – 1  –  – $520
Nov. 2009  – 1  –  – $400
Oct. 2009  – 1  –  – $390
Oct. 2009  – 2  –  – $510
Sep. 2009  – 1  –  – $410
Sep. 2009  – 2  –  – $500
Sep. 2009  – 1  –  – $470
Sep. 2009  – 1  –  – $435

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What’s My Property Worth?http://cityresidential.harcourts.com.au/Value.aspx

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What our Landlords say…….

“Harcourts City Residential were terrific. I had a vacant Melbourne City apartment in a prime location for three months with my previous Melbourne city agent. I then spoke to Dionne Wilson from Harcourts City Residential. As soon as speaking to Dionne, I knew her professionalism and helpfulness would ensure my apartment would be tenanted very soon. Not only did Dionne find me tenants within 10 days, Dionne was able to market my apartment at the market price (which was my asking price) and not a much lower price that my previous agent had my apartment advertised at .Thank you Dionne and Harcourts City Residential my stress is finally over.”.

Antonio – Landlord

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For more testimonials from past, present and potential clients from both sale & leasing please visit – http://harcourtscityresidential.wordpress.com/testimonials/

 

 

Referral Partners

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Harcourts Financial Services:

Working with all major lenders Harcourts Financial Services is your obligation-free one stop shop to finding the “best fit” loan available for you at any given time. Remember it’s not just about the cheapest loan, whilst that’s important, it’s even more important to have the right loan for what you what to achieve now and in the future as refinancing down the track can be expensive. Harcourts Financial Services professional brokers work with you to get it right the first time! Email us to have your local broker contact you today. cityresidential@harcourts.com.au

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Strand Conveyancing Services:

A dedicated team of professionals with many years experience make transacting in property an easy and straightforward process. Strand are in partnership with Pointon Partners Lawyers, a leading Australian commercial law firm, with specialist expertise in property law matters so no matter how complex or technical your transaction may be, they have the necessary professional expertise on hand to ensure everything runs smoothly. Email us today for more information or to have a Strand consultant call you cityresidential@harcourts.com.au

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Real Property Matters:

Depreciation schedules are an essential tool for investors to make sure you’re getting the maximum tax benefits from your property investment. Real Property Matters are experts in this field and have a range of innovative, market leading tools adding additional value to this important service. As a client of Harcourts you’ll receive a special rate and additional services; email us so we can ensure you get the Harcourts special rate. cityresidential@harcourts.com.au

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Helpful Links

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Foreign Investment Review Board – FIRB:

Recent change in legislation has affected foreigners purchasing property in Australia. It’s important to be aware of any restrictions that may be placed on you when considering purchasing property in Australia if you’re not an Australian or New Zealand Citizen. Further information from the website – http://www.firb.gov.au/content/real_estate/real_estate.asp

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State Revenue Office – SRO:

 The State Revenue Office are responsible for the calculation and collection of Stamp Duty and also govern the First Home Owners Grant FHOG among other things.

State Revenue Office Stamp Duty Calculator http://tinyurl.com/33f99jc

First Home Owners Grant – FHOG

Information – http://tinyurl.com/3ybukne

Application – http://tinyurl.com/36ahvjg

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Australian Tax Office – ATO:

From Capital Gains Tax to allowable deductions you’ll find lots of helpful information on the ATO website or contact your qualified accountant: http://www.ato.gov.au/

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Dionne Wilson

Director/Auctioneer – Harcourts City Residential

Ph:      03 9664 8100

Mob: 0417 318 705

E: dionne.wilson@harcourts.com.au

Web: www.cityresidential.harcourts.com.au

*Harcourts City Residential has gathered this information to provide an interesting read for apartment owners and prospective purchasers. Harcourts City Residential may not have concluded 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 accuracy of 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 advice or fact.

If your property is exclusively listed with another agent please disregard this communication.

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