End of Financial Year Report 270 King Street, Melbourne

It’s that time of year again!

Dionne Wilson from Harcourts City Residential has prepared your 2010-2011 End of Financial Year Report for 270 King Street, Melbourne.

We hope you enjoy it and look forward to your feedback.

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‘Melbourne’ Apartment Sales Statistics

 

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270 King Street Sales Statistics

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Building Details & Particulars

Age Building renovated in 2001

Zoning Capital City Zone Schedule 1 – http://www.dse.vic.gov.au/planningschemes/aavpp/37_04.pdf

Apartments 169

Facilities Indoor swimming pool, gym and sauna.

Owners Corp. Bridge Owners Corporation

G/Floor, 270 King St

Melbourne, Vic 8010

Ph: 9600 1442

www.bocm.com.au

Council City of Melbourne

P.O Box 1603

Melbourne VIC 3001

Ph: 9658 9658

enquiries@melbourne.vic.gov.au

www.melbourne.vic.gov.au

Water City West Water

Locked Bag 350

St Albans Road

Sunshine  VIC  3020

Ph: 131 691

www.citywestwater.com.au

Building Comment:

This past financial year has been quite turbulent for the Melbourne market, yet 270 King Street managed to maintain values.  With fewer apartments sold than the previous financial year prices managed to remain consistent.  A positive sign considering recent market trends with many surrounding buildings experiencing a severe decline.

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, 270 King Street 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.

Reported Sales Financial Year 2010-2011

Month

Apartment

Beds

Size

Price

May 2011

1106

1

61m2

$326,000

Apr 2011

608

2

84m2

$470,000

Mar 2011

402

2

67m2

$408,000

Feb 2011

208

2

84m2

$420,000

Jan 2011

601

1

53m2

$325,000

Dec 2010

501

1

53m2

$318,888

Dec 2010

1202

2

67m2

$475,000

Nov 2010

1303

3

96m2

$565,000

Nov 2010

1509

2

69m2

$462,000

Oct 2010

306

1

61m2

$317,500

Sep 2010

307

2

84m2

$421,000

Aug 2010

202

2

67m2

$400,200

Aug 2010

1201

1

53m2

$335,000

What’s My Property Worth? http://cityresidential.harcourts.com.au/Home/Selling/Whats-Your-Property-Worth/23111

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

Use this link for a full description of these buyer profiles and others we often work with throughout the inner city – http://bit.ly/rKpvJx

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

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

http://cityresidential.harcourts.com.au/Home/Our-Team/Testimonials/10330

Reported Rentals

Month

Apartment

Bedrooms

Rent P/Week

Mar 2011

1009

2

$450

Mar 2011

1003

2

$550

Jan 2011

1608

2

$440

Dec 2010

702

2

$410

Dec 2010

1406

1

$350

Nov 2010

1106

1

$350

Oct 2010

1204

4

$750

Oct 2010

406

1

$360

Aug 2010

305

2

$420

Jul 2010

110

2

$430

Jul 2010

1606

2

$540

What’s My Property Worth?http://cityresidential.harcourts.com.au/Home/Selling/Whats-Your-Property-Worth/23111

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://cityresidential.harcourts.com.au/Home/Our-Team/Testimonials/10330

Referral Partners:

Mortgage Express:

Mortgage-Express

Mortgage Express is a mortgage broking company that has been in operation for over 10 years. With access to over 30 lenders and 300 loan products, we believe we can source mortgage finance that will be tailored to best suit your needs. Mortgage Express implements the latest technologies and software to give you comprehensive comparisons of the very best options in the market place. We help you understand the features of each loan ideal for you so you can make an educated and informed decision. Whether it be first home mortgage finance, subsequent mortgage finance requirements, refinancing of an existing facility, commercial or investment finance, or just a general enquiry, Email us to have your local broker contact your today cityresidential@harcourts.com.au

Lexus Conveyancing

lexus

Lexus provide conveyancing services to the Melbourne property market. They represent clients purchasing or selling real estate property in all areas of Melbourne including the inner city and outer suburbs and also country Victoria. Lexus Conveyancing are a highly organised, efficient and professional property conveyancing service. Email us today for more information or to have a Lexus consultant call you cityresidential@harcourts.com.au

Real Property Matters

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

Helpful Links:

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

 

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

 

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.

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