Act now! Attention owners of student accommodation & serviced apartments

The Reserve Bank has left official interest rates on hold in May for a 19th-consecutive meeting keeping them at historic record lows.

Prices of apartments that fall into the category of Student Accommodation, Serviced Apartments and many Studio Apartments (SSS) are driven more so by interest rates than any other market factor.

The lower the interest rate ​​​​​​​the higher the likely sale price for SSS properties.

We know it is inevitable that interest rates will soon start to rise and hence the prices of SSS properties will start to fall.

Once rates rise, it’s unlikely we’ll see interest rates this low again in this generation, hence today may be the peak of the market for the sale of SSS apartments.

Have you considered selling your SSS property, or do you need an updated appraisal as we head into the End of Financial Year?

We have the tools available and the clients waiting to secure the next opportunity so if you have considered selling or need an update for your tax, please call our office 03 9664 8100 or complete your details below:

Market Update – Southbank Apartments

Research by property advisory firm Urbis showed just seven per cent of new apartment sales last year were for units of three bedrooms or more, yet the demand is much higher.

Interesting, as this is one segment of the market that is being overlooked by many of new developments that are under construction, or that have been built over the past decade. Many of these properties currently available will not meet the needs of its residents.

“It is very clear that buyers do have a love affair with inner-city living however their wants are not being meet by what developers are currently offering”.

Download our complimentary reportBuyers are screaming out for properties that are spacious, not everyone wants a sky-high apartment. This is resulting in many potential buyers abandoning their search for inner-city properties in favor of city edge dwellings.

This demand of unit living is working in the favor of properties like yours. Over the past 24 months we have seen, when these properties do become available, more buyers are coming forward, eager for the opportunity to purchase them!.

At present the market is strong for spacious or three bedroom, family sized apartments and this could be a great opportunity to take advantage of this current situation, as the savey investor knows, “good times don’t last” “make hay whist the sun shines”!

Over the past 12 months we have seen a increase of approx. 10-12% in the median sales price of three bedroom units in the Southbank area. This current shortage of stock has had upwards pressure on sales prices.

Feel free to contact me for a confidential discussion, if you would like to know what your property’s potential could be in today’s current marketww.

I look forward to hearing from you.

Corporate Headshot

Adam Merkur – Southbank Area Specialist
M:0497 966 344
E: adam.merkur@harcourts.com.au


Recent Southbank Sales

Rain or shine – 30/31 La Trobe Street, Melbourne sells under the hammer!

It was the only property to go under the hammer in Melbourne’s CBD on Saturday 24th March,  despite being one of the busiest auction weekends of the year with more than 1700 auctions scheduled.

Between July and December of last year, they raked in $40,000 leasing the unit for weeks at a time to high-flying executives and corporate visitors.

But listing agent James Edmundson, of Harcourts, said the property had appealed to owner-occupiers looking for a city base, rather than investors.

As heavy rain fell across the city, a crowd of 20 people crowded into the apartment’s living room for the auction.

A phone bidder, a woman representing her interstate daughter, placed the opening bid of $900,000, countered by a $950,000 bid from a couple who inspected the place on Thursday and wanted their two adult sons to move into the apartment.

After the property was declared on the market by auctioneer Dionne Wilson at $1.1 million, another couple began bidding. They had only inspected the apartment minutes before the auction, having only just returned from overseas.

Holding the bid at $1.14 million, they were on the brink of an expensive impulse purchase when the phone bidder offered another $2000 and the hammer fell at $1,142,000.

Read more (source Domain.com.au)

Anyone attending our Heritage auctions will always hear us say “Heritage holds value” this result is further evidence of that.

If you would like further information on this sale or any other Warehouse, Heritage or Unique properties throughout Melbourne’s inner city, please feel free to contact me or the Harcourts Melbourne City team.

James Edmundson - Harcourts Melbourne City

James Edmundson – Senior Sales Consultant/Auctioneer, Harcourts Melbourne City – 03 9664 8100

 

Wellington Gardens – End of Financial Year Report 2016-2017

End of Financial Year Report 2016-2017 prepared by Dionne Wilson & Ben Mitchell

Click here to view 68 La Trobe building details & particulars


Sales Statistics

REPORTED SALES – FINANCIAL YEAR 2016-2017
Street Address Bed Bath Car Sale Price Sale Date
211/336-376 Russell Street 1 1 1 $420,000 07-Jul-16
904/68 La Trobe Street 2 1 1 $479,000 15-Jul-16
1007/68 La Trobe Street 2 1 1 $506,000 15-Jul-16
216/68 La Trobe Street 1 1 1 $529,000 18-Aug-16
1009/68 La Trobe Street 2 2 1 $695,000 27-Aug-16
1410/68 La Trobe Street 2 1 1 $522,500 23-Sep-16
2103/68 La Trobe Street 2 2 1 Undisclosed 09-Oct-16
2102/68 La Trobe Street 2 2 2 $787,000 10-Oct-16
413/68 La Trobe Street 1 1 1 $425,000 19-Oct-16
706/68 La Trobe Street 2 1 1 $508,000 20-Oct-16
1002/68 La Trobe Street 2 2 1 $560,000 28-Oct-16
803/68 La Trobe Street 2 1 1 $502,000 09-Nov-16
1901/68 La Trobe Street 2 1 1 $590,000 03-Dec-16
1811/68 La Trobe Street 2 2 1 $600,000 23-Jan-17
1105/68 La Trobe Street 3 1 2 $692,000 24-Jan-17
2/61 Mackenzie Street 1 1 1 $645,000 01-Apr-17
61 Mackenzie Street 2 1 1 $656,000 08-Apr-17
801/340 Russell Street 2 1 1 $656,000 08-Apr-17
68 La Trobe Street 3 1 1 Undisclosed 27-Apr-17
1905/68 La Trobe Street 2 1 1 $540,000 15-May-17
1904/68 La Trobe Street 2 1 1 $530,000 23-May-17
212/68 La Trobe Street 2 2 1 $567,000 10-Jun-17
207/336-376 Russell Street 1 1 1 $400,000 19-Jun-17

 

 

Dionne Wilson - Harcourts Melbourne CityDionne Wilson
Director/Auctioneer
0417 318 705
dionne.wilson@harcourts.com.au
Ben Mitchell - Harcourts Melbourne City - LowRes_HSBen Mitchell
Business Development Manager
0497 966 998
bdm2@melbournecity@harcourts.com.au

Do you own an apartment in Concept Blue? Find out what your property is worth and get your complimentary market appraisal today – click here

Contact:

 

 


Useful Links:
common-buyer-profiles
 stamp-duty-calculator first-home-ownersw-info foriegn-investment-review-board

To view reports for other buildings click here


Harcourts Melbourne City has gathered this information to provide an interesting read for apartment owners and prospective purchasers. Harcourts Melbourne City 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.

STEPPING IT UP!

Dionne Wilson & James Edmundson conduct auction in Hawthorn East

Published last Sunday 4th February by The Herald Sun, Harcourts Melbourne City Director Dionne Wilson is snapped along side senior sales consultant James Edmundson at our latest auction in Hawthorn East. Read the full article here

This sale followed our auction held on Thursday evening where we saw another Melbourne Heritage property achieve an incredible result!


311/29 Market Street, Melbourne

The property was 69m2 internally. Our advertised range was $650,000 to $715,000 based on other recent sales of similar listings.

We had 84 groups through the property over the 4-week auction campaign.

Auction day saw a fantastic turn out.

The bidding opened at $700,000 which was within our quoted range, well above our reserve price & the bidding did not stop there!

An eventual sale price of $825,000 set yet another benchmark for heritage properties in Melbourne.

Anyone attending our Heritage auctions will always hear me say “Heritage holds value” this result is further evidence of that.

You may have also heard me say, “Of all the property our sales team own, we don’t own a modern apartment between us, they are all Heritage”.

There is a very good reason for that.

If you would like further information on this sale or any other Warehouse, Heritage or Unique properties throughout Melbourne’s inner city, please feel free to contact me or one of my senior sales agents.

Dionne Wilson - Harcourts Melbourne City

Dionne Wilson – Director/Auctioneer, Harcourts Melbourne City – 03 9664 8100

To view all of our client testimonials please click here

Ensure your property gets the exposure it deserves, talk to the experts!

Harcourts Melbourne City specialise in selling Heritage, Warehouse and Unique properties within Melbourne City & surrounding suburbs if you would like to know the value of your prized possession please provide your details below and one of our senior sales consultants will provide an in-depth market appraisal and and overview of what to expect when selling in today’s market.

 

299 Queen Street, Melbourne – Republic Tower – End of Financial Year Report 2013-2014

Queen 299 - Facade

End of Financial Year Report 2013-2014 prepared by James Edmundson

Click here to view 299 Queen Street, Melbourne –  details & particulars


Sales Statistics

REPORTED SALES – FINANCIAL YEAR 2013 – 2014
Street Address Bed Bath Car Sale Price Sale Date
83/299-319 Queen Street 3 2 2 Undisclosed 23-Sep-13
112/299-319 Queen Street 3 2 2 $1,130,000 23-Oct-13
52/299-319 Queen Street 2 2 1 $1,170,000 20-Nov-13
292/299-319 Queen Street 2 2 2 $3,100,000 11-Jan-14
54/299-319 Queen Street 3 2 3 $2,200,000 03-Apr-14
223/299-319 Queen Street 3 2 2 $1,350,000 02-May-14
213/299-319 Queen Street 3 2 1 Undisclosed 18-Jun-14

Rental Statistics

REPORTED RENTALS – FINANCIAL YEAR  2013 – 2014
Street Address Bed Bath Car Rent (pw) Date
243/299 Queen Street 3 2 1 $933 24/1/2014
185/299 Queen Street 2 1 1 $737 20/12/2013
185/299 Queen Street 2 1 1 $737 16/12/2013
185/299 Queen Street 2 1 1 $670 29/11/2013


Do you own an apartment at Republic Tower? Find out what your property is worth and get your complimentary market appraisal today – click here

Contact:

 James Edmundson - Harcourts Melbourne City James Edmundson
Senior Sales Consultant/Auctioneer
0411 456 770
James.edmundson@harcourts.com.au
 Dionne Wilson - Harcourts Melbourne City Dionne Wilson
Director/Auctioneer
0417 318 705
dionne.wilson@harcourts.com.au


To view reports for other buildings click here
Useful Links:
common-buyer-profiles
 stamp-duty-calculator first-home-ownersw-info foriegn-investment-review-board


Harcourts Melbourne City has gathered this information to provide an interesting read for apartment owners and prospective purchasers. Harcourts Melbourne City 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.

299 Queen Street, Melbourne – Republic Tower – End of Financial Year Report 2014-2015

Queen 299 - Facade

End of Financial Year Report 2014-2015 prepared by James Edmundson

Click here to view 299 Queen Street, Melbourne –  details & particulars


Sales Statistics

REPORTED SALES – FINANCIAL YEAR 2014 – 2015
Street Address Bed Bath Car Sale Price Sale Date
211/299-319 Queen Street 3 2 2 $1,300,000 22-Jul-14
103/299-319 Queen Street 3 2 1 Undisclosed 15-Aug-14
261/299-319 Queen Street 3 2 2 $2,200,000 12-Feb-15
123/299-319 Queen Street 3 2 2 $1,300,000 26-May-15

Rental Statistics

REPORTED RENTALS – FINANCIAL YEAR  2014 – 2015
Street Address Bed Bath Car Rent (pw) Date
182/299 Queen Street 2 2 1 $850 15/09/2014
?/299 Queen Street 3 3 2 $1,850 21/08/2014


Do you own an apartment at Republic Tower? Find out what your property is worth and get your complimentary market appraisal today – click here

Contact:

 James Edmundson - Harcourts Melbourne City James Edmundson
Senior Sales Consultant/Auctioneer
0411 456 770
James.edmundson@harcourts.com.au
 Dionne Wilson - Harcourts Melbourne City Dionne Wilson
Director/Auctioneer
0417 318 705
dionne.wilson@harcourts.com.au

Useful Links:
common-buyer-profiles
 stamp-duty-calculator first-home-ownersw-info foriegn-investment-review-board

To view reports for other buildings click here


Harcourts Melbourne City has gathered this information to provide an interesting read for apartment owners and prospective purchasers. Harcourts Melbourne City 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.

299 Queen Street, Melbourne – Republic Tower – End of Financial Year Report 2015-2016

Queen 299 - Facade

End of Financial Year Report 2015-2016 prepared by James Edmundson

Click here to view 299 Queen Street, Melbourne –  details & particulars


Sales Statistics

REPORTED SALES – FINANCIAL YEAR 2015 – 2016
Street Address Bed Bath Car Sale Price Sale Date
163/299-319 Queen Street 3 2 1 $1,275,000 18-Aug-15
243/299-319 Queen Street 3 2 1 $1,300,000 11-Sep-15
121/299-319 Queen Street 3 2 1 $1,240,000 21-Oct-15
271/299-319 Queen Street 3 2 2 $1,625,000 26-Oct-15
114/299-319 Queen Street 2 2 2 $1,275,000 18-Jan-16
151/299-319 Queen Street 2 2 1 $1,400,000 20-Jan-16
192/299-319 Queen Street 2 2 1 $1,320,000 12-May-16

Rental Statistics

REPORTED RENTALS – FINANCIAL YEAR  2015 – 2016
Street Address Bed Bath Car Rent (pw) Date
201/299 Queen Street 3 2 1 Undisclosed 15/02/2016
264/299 Queen Street 3 2 2 $1,795 11/01/2016


Do you own an apartment at Republic Tower? Find out what your property is worth and get your complimentary market appraisal today – click here

Contact:

 

 James Edmundson - Harcourts Melbourne City James Edmundson
Senior Sales Consultant/Auctioneer
0411 456 770
James.edmundson@harcourts.com.au
 Dionne Wilson - Harcourts Melbourne City Dionne Wilson
Director/Auctioneer
0417 318 705
dionne.wilson@harcourts.com.au


To view reports for other buildings click here
Useful Links:
common-buyer-profiles
 stamp-duty-calculator first-home-ownersw-info foriegn-investment-review-board


Harcourts Melbourne City has gathered this information to provide an interesting read for apartment owners and prospective purchasers. Harcourts Melbourne City 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.

 

299 Queen Street, Melbourne – Republic Tower – End of Financial Year Report 2016-2017

End of Financial Year Report 2016-2017 prepared by James Edmundson

Click here to view 299 Queen Street, Melbourne –  details & particulars


Sales Statistics

REPORTED SALES – FINANCIAL YEAR 2016 – 2017
Street Address Bed Bath Car Sale Price Sale Date
52/299 Queen Street 2 2 1 $1,270,000 10/07/2016
185/299 Queen Street 3 1 1 $750,000 13/09/2016
153/299 Queen Street 4 3 3 $2,600,000 15/09/2016
92/299 Queen Street 3 2 1 $1,300,000 03/12/2016
204/299 Queen Street 3 2 1 $1,475,000 20/12/2016
54/299 Queen Street 3 2 3 $2,560,000 10/04/2017
73/299 Queen Street 3 2 1 $1,300,000 07/06/2017

Rental Statistics

REPORTED RENTALS – FINANCIAL YEAR 2016 – 2017
Street Address Bed Bath Car Rent (pw) Date
54/299 Queen Street 3 3 2 Undisclosed 22/08/2016


Do you own an apartment at Republic Tower? Find out what your property is worth and get your complimentary market appraisal today – click here

Contact:

James Edmundson - Harcourts Melbourne City James Edmundson
Senior Sales Consultant/Auctioneer
0411 456 770
James.edmundson@harcourts.com.au
 Dionne Wilson - Harcourts Melbourne City Dionne Wilson
Director/Auctioneer
0417 318 705
dionne.wilson@harcourts.com.au

Useful Links:
common-buyer-profiles
 stamp-duty-calculator first-home-ownersw-info foriegn-investment-review-board

To view reports for other buildings click here


Harcourts Melbourne City has gathered this information to provide an interesting read for apartment owners and prospective purchasers. Harcourts Melbourne City 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.

562 Little Bourke Street , Melbourne – Former Sun Electric Building – End of Financial Year Report 2014-2015

Little Bourke 562 Facade

End of Financial Year Report 2014-2015 prepared by Guillaume Louis

Click here to view 562 Bourke Street, Melbourne –  details & particulars


Sales Statistics

Little Bourke 562.PNG

REPORTED SALES – FINANCIAL YEAR 2014 – 2015
Street Address Bed Bath Car Sale Price Sale Date
30/562-566 Little Bourke Street 1 1 0 $370,000 09-Aug-14
32/562-566 Little Bourke Street 1 1 0 $365,000 19-Jan-15
36/562-566 Little Bourke Street 1 1 1 $365,000 26-May-15

Rental Statistics

 

REPORTED RENTALS – FINANCIAL YEAR 2014-2015
Street Address Bed Bath Car Rent (pw) Date
19/562 Little Bourke Street 3 1 1 $380 pw 17/4/2015
17/562 Little Bourke Street 3 2 1 Undisclosed 9/1/2015
17/562 Little Bourke Street 3 2 1 Undisclosed 5/12/2014
17/562 Little Bourke Street 3 2 1 Undisclosed 18/11/2014
33/562 Little Bourke Street 1 1 2 Undisclosed 18/8/2014
13/562 Little Bourke Street 3 1 1 $350 pw 7/8/2014


Do you own an apartment at 562 Little Bourke Street? Find out what your property is worth and get your complimentary market appraisal today – click here

Contact:

 Guillaume_6495_LowRes_HS Guillaume Louis
Sales Consultant
0497 966 344
g.louis@harcourts.com.au
 Dionne Wilson - Harcourts Melbourne City Dionne Wilson
Director/Auctioneer
0417 318 705
dionne.wilson@harcourts.com.au

Useful Links:
common-buyer-profiles
 stamp-duty-calculator first-home-ownersw-info foriegn-investment-review-board

To view reports for other buildings click here


Harcourts Melbourne City has gathered this information to provide an interesting read for apartment owners and prospective purchasers. Harcourts Melbourne City 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.