End of Financial Year Report 2010- 2011 – 288 Spencer Street, Melbourne; Prepared by Stuart Kennett & Esmé Gordon

Common-Buyer-Profiles10

Common Buyer Profiles

First-Home-Owners-Grant5

First Home Owners Information

Foreign-Investment-Review-Board6

Foreign Investment Review Board

Stamp-Duty-Calculator5

Stamp Duty Calculator

Whats-my-property-worth5

What’s my property worth?

Building Comment:

This past financial year has been quite interesting in terms of sales figures for the Atlantis Tower.  There has been a vast decrease in the number of sales compared to the previous financial year.  This is not uncommon in such a new building as many off-the-plan investors often find their situations change and opt to sell in the first year.  Also, the recent changes in lending criteria by the major banks could be another factor as many of the large banks have special criteria to lend on apartments of a particular size.

A lower amount of sales is certainly not negative as this indicates that more owners were happy to maintain their investment and reap the benefits of a healthy rent return.

The choice of agent in achieving a sale is also another important factor that contributes to the final result.  Unfortunately some owners chose less experienced agents and achieved below average sales results for their apartments.

In spite of the lower number of sales, the interest and enquiry levels in this particular building are always very high as it represents a great opportunity for first home buyers and investors to begin building their property portfolio in an up and coming precinct of Melbourne.

Building Facilities:

Pool, Gym and Sauna
Building Name: The Atlantis Tower

Year Built:

2009

Owners Corporation:

Network Pacific

Building Manager:

03 8616 4722

No. In Block:

205
Council: City of Melbourne
Zoning: Capital City Zone Schedule 1

 

 

 

 

 

 

 

 

 

 

 

Reported Sales:

Month

Apartment

Beds

Size m2

Car

Price

Jun 11

3005

1

39.1

No

Undisclosed

May 11

2808

Studio

31.5

No

$266,889

Apr 11

2305

Studio

32

No

$260,000

Mar 11

2406

1

42.5

No

$298,000

Mar 11

2001

1

61.7

Yes

$400,000

Mar 11

3105

1

39.1

No

$317,500

Feb 11

3308

Studio

32.5

No

$270,000

Oct 10

3608

1

47

No

$385,000

Oct 10

2512

Studio

32.9

No

$255,000

Aug 10

3008

Studio

32.9

No

$233,000

 

Reported Rentals:

Month

Apartment

Bedrooms

Size m2

Rent p/w

Jun 11

2908

1

$340
Apr 11

1908

Studio

$340
Mar 11

2802

Studio

$400
Jan 11

1907

1

UNDISCLOSED
Dec 10

2303

Studio

$360
Dec 10

2905

Studio

$310
Dec 10

2113

1

$420
Oct 10

2007

1

UNDISCLOSED
Sep 10

2008

1

UNDISCLOSED
Sep 10

3509

1

$400
Jul 10

2208

1

$395
Jul 10

2806

1

UNDISCLOSED
Jul 10

2010

Studio

UNDISCLOSED

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

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

For more testimonials from past, present and potential clients from both sale & leasing please visit –

http://blogs.harcourts.com.au/harcourtscityresidential/testimonials/

Your Atlantis Tower Expert Agent –

Dionne Wilson

 

 

 

 

Referral Partners

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 your today. cityresidential@harcourts.com.au

.

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. You can seek further information from the FIRB 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/

Dionne Wilson
Harcourts City Residential
Ph:
03 9664 8100
E: cityresidential@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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