2009 Building Report Update 265 Exhibition St, “Regency Towers”
Harcourts City Residential
In this report, James Edmundson has prepared an overview of all sales & rental transactions* for 265 Exhibition St for 2009 along with extra details about the complex & a forecast for the year ahead.
You can find this and more Real Estate blogs at http://harcourtscityresidential.wordpress.com/
265 Exhibition St, “Regency Towers”
Top Reported Sale: $1,125,000
Bottom Reported Sale: $558,000
Melbourne Apartment Overview FY 08-09:
Apartment Sales in Melbourne: 1753
Clearance Rate in Melbourne: 79%
Average Sale Price in Melbourne: $503,347
Unit Date Size Result
1605/265 Oct 09 151 m2 $1,125,000
2603/265 Sep 09 88 m2 $660,000
2102/265 Sep 09 ** $570,000
2810/265 Sep 09 109 m2 $930,000
2803/265 Sep 09 88 m2 $565,000
1709/265 Aug 09 98 m2 $695,100
2408/265 Aug 09 *** $577,000
1010/265 Jun 09 *** $1,100,000
904/265 Jun 09 *** $580,000
809/265 May 09 *** $558,000
2903/265 May 09 ** $680,000
2108/265 May 09 ** $565,000
903/265 Apr 09 ** $590,000
1002/265 Mar 09 ** $595,000
2209/265 Mar 09 98 m2 $685,000
3201/265 Feb 09 **** $1,003,000
2003/265 Feb 09 88 m2 $612,000
2103/265 Jan 09 88 m2 $730,000
RENTAL RESULTS – Jan 09 – Jan 10
Unit Rent Date Bed Bath
3002/265 $400 pw 24-12-2009 2 2
804/265 $550 pw 20-10-2009 2 2
2008/265 $500 pw 15-10-2009 2 2
1903/265 $660 pw 22-09-2009 2 2
1303/265 UNDISCLOSED 01-09-2009 2 2
2301/265 $650 pw 13-08-2009 3 2
UNDISCLOSED $750 pw 10-08-2009 3 2
1506/265 $600 pw 27-07-2009 1 1
1002/265 $660 pw 08-07-2009 3 2
3103/265 $850 pw 13-05-2009 3 2
1009/265 $620 pw 08-05-2009 2 2
2708/265 $570 pw 06-05-2009 2 2
2906/265 $520 pw 27-04-2009 1 2
1210/265 $800 pw 10-04-2009 3 2
2008/265 $680 pw 23-02-2009 2 2
2906/265 $440 pw 11-02-2009 1 1
Facilities: security entrance, pool, exercise room, and secure parking.
Demographics: Described as the “village in the sky” 265 Exhibition St caters to a well rounded mix of owner occupiers, Dual occupiers and rental tenants. The Regency Towers is known for its friendly social atmosphere, its great position, located at the Paris end of town, and the peace of mind it offers as a secure building. The property is of particular interest to people looking to live and work in the city especially young professionals as well as dual occupiers wishing to use the unit as a second home.
Near-by Construction Underway: 260 million dollar plans to restore and extend the Historic Windsor Hotel have drawn mixed reactions, with some questioning the impact the 25 storey extension located at the rear of the property would have on the heritage feel of the Paris end of Melbourne. With construction slated to commence late 2010 it is sure to remain a discussion point. www.thewindsor.com.au
Artist impression
City Forecast for 2010:
Whilst early stagnation in 2009 caused by the GFC saw a reduction in clearance rates, confidence is returning to the high end market.
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 could 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