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.
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
Council City of Melbourne
P.O Box 1603
Melbourne VIC 3001
Ph: 9658 9658
enquiries@melbourne.vic.gov.au
Water City West Water
Locked Bag 350
St Albans Road
Sunshine VIC 3020
Ph: 131 691
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/10330Reported 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/10330Referral Partners:
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 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
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
*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.
