End of Financial Year Report The Neo / 200 Spencer Street, Melbourne Report for 2010 – 2011, Prepared by James Edmundson “Esmé Gordon”

 

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First-Home-Owners-Grant5First Home Owners Information

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Stamp-Duty-Calculator5Stamp Duty Calculator

Whats-my-property-worth5What’s my property worth?

Building Comments
This past financial year has been quite turbulent for the Melbourne market, yet 200 Spencer Street managed to maintain values at around the same level.  With a much greater number of apartments sold than the previous financial year prices managed to remain relatively consistent.  A positive sign considering recent market trends with many surrounding buildings experiencing a severe decline.Owners who picked the right agents to sell their apartments enjoyed achieving the best market value for their property. Unfortunately there were many owners who were lured with promises of low commission and no cost advertising campaigns and paid the price.  Unfortunately some of the strategies employed by other agents such as quoting low figures to attract hoards of buyers were not successful and proved only to dampen buyers perceptions of values within the complex.

However after speaking with many of the owners in the building it is evident that spirits are high and most owners are satisfied with the appreciation in value of their property.

Looking forward, The Neo 200 offers a unique buying opportunity in a highly sought after pocket of Melbourne.  This should cushion it from too many market fluctuations for the coming financial year.

Sales Statistics
200 Spencer St - 2011

Previous Reports:

Financial Report 2009 Financial Report 2010 Future Reports: Financial Report 2012 Financial Report 2013
BUILDING DETAILS & PARTICULARS

Building Facilities:

Pool , sauna, gym, outdoor BBQ area, terrace
Building Name: Neo

Year Built:

2008

Owners Corporation:

Bencorp OCM Pty Ltd
71 Palmerston Crescent
South Melbourne
PO BOX 173
SOUTH YARRA VIC 3141
www.bencopocm.com.au

Building Manager:

Savio

No. In Block:

7 levels are parking then levels 8-41 contain 371 residential apartments
Council: City of Melbourne
Zoning: Capital City Zone Schedule 1 http://tinyurl.com/23clumr

Reported Sales Financial Year 2010-2011

Month Apartment Beds Size m2 Car Price
Jun. 2011 1807 2 70 Yes $550,000
Jun. 2011 1808 1 50 Yes $410,000
Jun. 2011 3606 2 76 Yes $620,000
Jun. 2011 1211 1 50 Yes $360,000
Jun. 2011 3407 2 70 Yes $580,000
May. 2011 1905 2 70 Yes $545,000
May. 2011 1311 1 50 Yes $355,000
Apr. 2011 2204 1 56 Yes $435,000
Mar. 2011 1007 1 50 Yes $388,000
Mar. 2011 3810 2 76 Yes $625,000
Mar. 2011 1910 2 76 Yes $538,000
Jan. 2011 2105 2 76 Yes $520,000
Jan. 2011 1605 2 76 Yes $530,000
Dec. 2010 908 1 50 Yes $372,000
Nov. 2010 3608 1 50 Yes $440,000
Nov. 2010 1209 1 50 Yes $385,000
Nov. 2010 3109 2 70 Yes $650,000
Nov. 2010 1504 1 56 Yes $425,000
Nov. 2010 910 2 70 Yes $530,000
Oct. 2010 3807 2 70 Yes $675,000
Oct. 2010 2810 2 76 Yes $560,000
Sep. 2010 2804 1 56 Yes $430,000
Sep. 2010 2603 1 51 Yes $400,000
Aug. 2010 1604 1 56 Yes $400,000
Aug. 2010 3607 2 70 Yes $620,000
Aug. 2010 2401 2 76 Yes $540,000
Aug. 2010 3005 2 76 Yes $568,000
Aug. 2010 3203 1 51 Yes $430,000
Jul. 2010 914 1 56 Yes $330,000
Jul. 2010 2803 1 51 Yes $398,000
Jul. 2010 3910 2 76 Yes $680,000
Jul. 2010 1705 1 76 Yes $573,888
Jul. 2010 1006 1 56 Yes $350,000
Jul. 2010 3104 1 56 Yes $435,000

Reported Rentals Financial Year 2010-2011

Month Apartment Bedrooms Size m2 Rent P/Week
Jun 11 1506 1 56 $650
Jun 11 4106 3 UNDISCLOSED
Jun 11 lvl 31 2 70 UNDISCLOSED
Jun 11 1502 2 70 UNDISCLOSED
Jun 11 807 1 50 $550
Feb 11 808 1 50 $410
Feb 11 1209 1 50 $420
Jan 11 1713 1 50 $410
Nov 10 3410 2 76 $610
Nov 10 3906 2 76 $550
Aug 10 907 1 50 $360
Aug 10 3503 1 50 UNDISCLOSED
Jul 10 2703 1 50 $430

 

Contact

 

James EdmundsonSales Agent – Harcourts City ResidentialPh: 03 9664 8100      

Mob: 0411 456 770

E: james.edmundson@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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