Welcome to your first End of Financial Year report for Hotham Street, East Melbourne from Harcourts City Residential.
You can find this and our many other blogs at
http://harcourtscityresidential.wordpress.com/
In this report, Dionne Wilson has prepared an overview of all sales & rental transactions in Hotham Street for the 2008/2009 financial year along with extra details about the complex & a forecast for the year ahead.
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[caption id="attachment_128" align="aligncenter" width="287" caption="21 Hotham St"]
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Hotham Street, East Melbourne
Top Reported Sale in Financial Year 08-09: $587,500
Bottom Reported Sale in Financial Year 08-09: $150,000
Number of Auctions: 4
Auction Clearance Rate: 67%
Number of Private Sales: 7
East Melbourne Overview:
Number of Apartment Transactions in East Melbourne: 129
Number of Auctions in East Melbourne: 51
Number of Auctions Sold in East Melbourne: 47
Clearance Rate in East Melbourne: 92%
Average Sale Price in East Melbourne: $494,157
SALES RESULTS FOR HOTHAM STREET EAST MELBOURNE, YEAR 08/09:
114/25 Hotham Street Studio $255,000
207/25 Hotham Street Studio $287,500
4/20 Hotham Street Studio $235,000
18/86 Hotham Street 2 bed, 1 bath, 1 car $587,000
4/24 Hotham Street 2 bed, 1 bath, 1 car $465,000
102/25 Hotham Street Studio $150,000
103/25 Hotham Street Studio $188,000
12/25 Hotham Street Studio $161,000
103/25 Hotham Street Studio $170,000
RENTAL RESULTS FOR HOTHAM STREET EAST MELBOURNE, YEAR 08/09:
*/ 108 Hotham Street 1 bed, 1 bath $315.00 pw
12/21-23 Hotham Street 1 bed, 1 bath $325.00 pw
5/9 Hotham Street 2 bed, 2 bath, 1 car $530.00 pw
*/ 108 Hotham Street 1 bed, 1 bath $250.00 pw
1/29 Hotham Street 1 bed, 1 bath $280.00 pw
2/100 Hotham Street 1 bed, 1 bath (furnished) undisclosed
3/9 Hotham Street 1 bed, 1 bath, 1 car (furnished) $420.00 pw
4/151 Hotham Street 2 bed, 1 bath, 1 car $460.00 pw
4/21 Hotham Street 1 bed, 1 bath, 1 car $350.00 pw
7/29 Hotham Street Studio $280.00 pw
13/21-23 Hotham Street 1 bed, 1 bath, 1 car $350.00 pw
211/25 Hotham Street Studio (furnished) $295.00 pw
18/86 Hotham Street 2 bed, 1 bath, 1 car $450.00 pw
5/21-23 Hotham Street 1 bed, 1 bath, 1 car $350.00 pw
1/9 Hotham Street 2 bed, 1 bath, 1 car $450.00 pw
3/9 Hotham Street 1 bed, 1 bath, 1 car (furnished) $420.00 pw
8/21-23 Hotham Street 1 bed, 1 bath, 1 car $365.00 pw
7/21-23 Hotham Street 1 bed, 1 bath $310.00 pw
11/21-23 Hotham Street 1 bed, 1 bath $330.00 pw
1/86 Hotham Street 1 bed, 1 bath $280.00 pw
13/165 Hotham Street 2 bed, 1 bath $390.00 pw
1/21 Hotham Street 3 bed, 2 bath, 1 car $500.00 pw
6/21 Hotham Street 1 bed, 1 bath $350.00 pw
*/ 100 Hotham Street 2 bed, 1 bath $450.00 pw
*/ 20 Hotham 1 bed, 1 bath $310.00 pw
2/21-23 Hotham Street 1 bed, 1 bath undisclosed
Demographics: East Melbourne has a great mixture of owner occupiers, young professionals, out of town investors and a more mature generation of owners as well as those utilising their apartments for a secure lock-up & leave city base.
Construction Nearby Underway: 150 Clarendon Street (luxury high-end apartments in the former Mercy Hospital site), 1 East Melbourne (high end apartments in old train yard site next to Wellington Gardens on Wellington Parade South).
Forecast for the 09-10 Financial Year: We envisage that continuing first home owner interest and buying power will keep the market buoyant in East Melbourne for the remainder of 2009. Dependant on bank interest rates, we could experience a flattening of the market in 2010 in the plus $500,000 sector. Mum and Dad investors could well make a comeback in 2010 once first home owners lose their puff and buying power. From the rental results above you can see the excellent investment opportunity that Hotham St apartments offer in an expensive blue chip neighbourhood. This in turn should cushion it from too many market fluctuations.
For further information on this, or any other property needs you may have, please contact:
Dionne Wilson
Director – Harcourts City Residential
Ph: 03 9664 8100 Mob: 0417 318 705
E:
dionne.wilson@harcourts.com.au Web:
www.cityresidential.harcourts.com.au
*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.
