200 Spencer St, Melbourne
Harcourts City Residential
In this report, James Edmundson has prepared an overview of all sales & rental transactions* for 200 Spencer St, for the 2008/2009 financial year along with extra details about the building and a forecast for the year ahead.
You can find this and more Real Estate blogs at http://harcourtscityresidential.wordpress.com/
200 Spencer St, Melbourne FY 08-09 Top Reported Sale: $995,000 Bottom Reported Sale: $322,000 Number of Private Sales: 79 Melbourne Apartment Overview FY 08-09: Apartment Sales in Melbourne: 1753 Clearance Rate in Melbourne: 79% Average Sale Price in Melbourne: $503,347 SALES RESULTS - Financial Year 08-09:*| 18 | th floor | SPENCER ST | $495,000 | 14 Apr 2009 | ||
| 40 | th floor | SPENCER ST | $515,000 | 10 Mar 2009 | ||
| 13 | th floor | SPENCER ST | $470,000 | 27 Feb 2009 | ||
| 16 | th floor | SPENCER ST | $375,000 | 27 Feb 2009 | ||
| 37 | th floor | SPENCER ST | $600,000 | 19 Feb 2009 | ||
| 24 | th floor | SPENCER ST | $549,000 | 18 Feb 2009 | ||
| 28 | th floor | SPENCER ST | $450,000 | 16 Feb 2009 | ||
| 8 | th floor | SPENCER ST | $468,000 | 27 Jan 2009 | ||
| 39 | th floor | SPENCER ST | $500,000 | 16 Jan 2009 | ||
| 8 | th floor | SPENCER ST | $445,000 | 12 Jan 2009 | ||
| 28 | th floor | SPENCER ST | $440,000 | 15 Dec 2008 | ||
| 37 | th floor | SPENCER ST | $446,500 | 9 Dec 2008 | ||
| 11 | th floor | SPENCER ST | $487,000 | 1 Dec 2008 | ||
| 28 | th floor | SPENCER ST | $414,000 | 21 Nov 2008 | ||
| 41 | st floor | SPENCER ST | $995,000 | 7 Nov 2008 | ||
| 15 | th floor | SPENCER ST | $545,000 | 27 Oct 2008 | ||
| 37 | th floor | SPENCER ST | $614,500 | 9 Oct 2008 | ||
| 15 | th floor | SPENCER ST | $355,000 | 2 Oct 2008 | ||
| 12 | th floor | SPENCER ST | $379,500 | 26 Sep 2008 | ||
| 10 | th floor | SPENCER ST | $283,000 | 25 Sep 2008 | ||
| 40 | th floor | SPENCER ST | $585,000 | 19 Sep 2008 | ||
| 35 | th floor | SPENCER ST | $440,500 | 15 Sep 2008 | ||
| 32 | th floor | SPENCER ST | $422,000 | 12 Sep 2008 | ||
| 29 | th floor | SPENCER ST | $582,000 | 10 Sep 2008 | ||
| 40 | th floor | SPENCER ST | $453,500 | 9 Sep 2008 | ||
| 22 | th floor | SPENCER ST | $564,000 | 8 Sep 2008 | ||
| 18 | th floor | SPENCER ST | $567,000 | 5 Sep 2008 | ||
| 10 | th floor | SPENCER ST | $498,000 | 3 Sep 2008 | ||
| 19 | th floor | SPENCER ST | $575,500 | 1 Sep 2008 | ||
| 16 | th floor | SPENCER ST | $383,500 | 1 Sep 2008 | ||
| 15 | th floor | SPENCER ST | $388,500 | 29 Aug 2008 | ||
| 17 | th floor | SPENCER ST | $443,500 | 25 Aug 2008 | ||
| 14 | th floor | SPENCER ST | $383,500 | 25 Aug 2008 | ||
| 34 | th floor | SPENCER ST | $605,500 | 25 Aug 2008 | ||
| th floor | SPENCER ST | $385,000 | 25 Aug 2008 | |||
| 34 | th floor | SPENCER st | $620,500 | 22 Aug 2008 | ||
| 14 | th floor | SPENCER ST | $525,000 | 19 Aug 2008 | ||
| 10 | th floor | SPENCER ST | $495,000 | 19 Aug 2008 | ||
| 34 | th floor | SPENCER ST | $437,500 | 19 Aug 2008 | ||
| th floor | SPENCER ST | $437,000 | 19 Aug 2008 | |||
| 14 | th floor | SPENCER ST | $329,000 | 12 Aug 2008 | ||
| 31 | th floor | SPENCER ST | $595,000 | 12 Aug 2008 | ||
| 38 | th floor | SPENCER ST | $600,000 | 12 Aug 2008 | ||
| 12 | th floor | SPENCER ST | $376,000 | 11 Aug 2008 | ||
| 39 | th floor | SPENCER ST | $620,500 | 11 Aug 2008 | ||
| 12 | th floor | SPENCER ST | $490,000 | 11 Aug 2008 | ||
| 33 | th floor | SPENCER ST | $437,500 | 8 Aug 2008 | ||
| 24 | th floor | SPENCER ST | $407,500 | 7 Aug 2008 | ||
| 9 | th floor | SPENCER ST | $418,000 | 7 Aug 2008 | ||
| 12 | th floor | SPENCER ST | $370,000 | 6 Aug 2008 | ||
| 25 | th floor | SPENCER ST | $575,000 | 5 Aug 2008 | ||
| 21 | st floor | SPENCER ST | $548,000 | 5 Aug 2008 | ||
| 9 | th floor | SPENCER ST | $455,000 | 1 Aug 2008 | ||
| 38 | th floor | SPENCER ST | $449,500 | 1 Aug 2008 | ||
| 14 | th floor | SPENCER ST | $495,000 | 28 Jul 2008 | ||
| 39 | th floor | SPENCER ST | $455,000 | 27 Jul 2008 | ||
| 39 | th floor | SPENCER ST | $455,000 | 27 Jul 2008 | ||
| 16 | th floor | SPENCER ST | $386,500 | 25 Jul 2008 | ||
| 20 | th floor | SPENCER ST | $575,000 | 24 Jul 2008 | ||
| 22 | th floor | SPENCER ST | $590,000 | 23 Jul 2008 | ||
| 19 | th floor | SPENCER ST | $392,000 | 21 Jul 2008 | ||
| 20 | th floor | SPENCER ST | $403,500 | 21 Jul 2008 | ||
| 13 | th floor | SPENCER ST | $542,500 | 21 Jul 2008 | ||
| 35 | th floor | SPENCER ST | $620,000 | 18 Jul 2008 | ||
| 35 | th floor | SPENCER ST | $603,500 | 14 Jul 2008 | ||
| 10 | th floor | SPENCER ST | $368,500 | 14 Jul 2008 | ||
| 35 | th floor | SPENCER ST | $440,000 | 14 Jul 2008 | ||
| 35 | th floor | SPENCER ST | $608,500 | 9 Jul 2008 | ||
| 13 | th floor | SPENCER ST | $379,000 | 8 Jul 2008 | ||
| 25 | th floor | SPENCER ST | $408,500 | 8 Jul 2008 | ||
| 16 | th floor | SPENCER ST | $387,000 | 3 Jul 2008 | ||
| 14 | th floor | SPENCER ST | $542,000 | 3 Jul 2008 | ||
| 20 | th floor | SPENCER ST | $548,000 | 3 Jul 2008 | ||
| 23 | th floor | SPENCER ST | $574,000 | 3 Jul 2008 | ||
| 11 | th floor | SPENCER ST | $373,500 | 2 Jul 2008 |
| bed | bath | ||||
| 907/200 | Spencer Street | $350 pw | 19-06-2009 | 1 | 1 |
| 913/200 | Spencer Street | UNDISCLOSED | 01-05-2009 | 1 | 1 |
| 2703/200 | Spencer Street | $430 pw | 20-04-2009 | 1 | 1 |
| 3908/200 | Spencer Street | $450 pw | 18-03-2009 | 1 | 1 |
| 808/200 | Spencer Street | $400 pw | 17-03-2009 | 1 | 1 |
| 1113/200 | Spencer Street | $400 pw | 26-02-2009 | 1 | 1 |
| LVL10/200 | Spencer Street | UNDISCLOSED | 12-02-2009 | 1 | 1 |
| 2502/200 | Spencer Street | UNDISCLOSED | 09-02-2009 | 2 | 1 |
| 200 | Spencer Street | $370 pw | 23-01-2009 | 1 | 1 |
| 1609/200 | Spencer Street | $1695 pm | 16-12-2008 | 1 | 1 |
| 1402/200 | Spencer Street | UNDISCLOSED | 28-11-2008 | 2 | |
| 3503/200 | Spencer Street | UNDISCLOSED | 28-11-2008 | 1 | 1 |
| 1906/200 | Spencer Street | $520 pw | 27-11-2008 | 2 | 1 |
| 2209/200 | Spencer Street | $535 pw | 25-11-2008 | 2 | 1 |
| 1101/200 | Spencer Street | $550 pw | 05-11-2008 | 2 | 1 |
| 1904/200 | Spencer Street | $400 pw | 10-10-2008 | 1 | 1 |
| 200 | Spencer Street | $350 pw | 29-09-2008 | 1 | 1 |
| 1508/200 | Spencer Street | UNDISCLOSED | 02-09-2008 | 1 | 1 |
| 3410/200 | Spencer Street | $600 pw | 30-08-2008 | 2 | 1 |
| 3410/200 | Spencer Street | $600 pw | 27-08-2008 | 2 | 1 |
| LVL10/200 | Spencer Street | UNDISCLOSED | 11-07-2008 | 1 | |
| 2710/200 | Spencer Street | UNDISCLOSED | 10-07-2008 | 2 | 1 |
Facilities: Security entrance, Gym, intercom, Pool, Terrace BBQ, Concierge and Lift
Demographics: Originally marketed to international and interstate investors 200 Spencer Street is a majority tenanted building. The property is especially well suited to people looking to live and work from the city especially young professionals, students and more mature buyers, all who appreciate the central location and public transport on the doorstep.
Development in the area: The old power station on the corner of Spencer and Little Bourke directly opposite the Neo is due for demolition to give way in part for four residential towers from 30 to 50 stories in height that will cover the blocks from little Bourke to Little Lonsdale st. If the current plans are approved the project is expected to bring 2555 (approx) new units, over 3000 m2 of retail, but surprisingly just 700 car parks (an attach rate of less than one car park per three unit.) Remaining will be the heritage portion of the power station that still acts as a substation to the docklands area.
Units facing the site may experience a temporary cooling of clearance rates once construction commences but should return to full market once the new development comes online.
200 Spencer St Forecast for the 09-10 Financial Year: The first resales started in the middle of 2008 with the last recorded sale from the developer being early in 2009. Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates in other buildings we envisage that continuing first home owner interest and buying power will keep the market buoyant in Melbourne for the remainder of 2009.
With interest rates tipped to continue to rise, we could experience a leveling of the general market in 2010 particularly in the pre $500,000 range. Investors may well make a comeback in 2010 once first home owners lose their puff and buying power.
For further information on this, or any other property needs you may have, please contact:
James Edmundson
Sales Consultant – Harcourts City Residential
Ph: 03 9664 8100 Mob: 03 9664 8116
E: James.Edmundson@harcourts.com.au
Web: www.cityresidential.harcourts.com.au
Disclaimer: *Harcourts City Residential has gathered this information to provide an interesting document for apartment owners and prospective purchasers. Harcourts City Residential may not have affected 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 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 fact.
If your property is exclusively listed with another agent please disregard this communication
