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First Valuation Group Melbourne Prestige Apartment Sales Survey Jan – Dec 2017

First Valuation Group Melbourne Prestige Apartment Sales Survey

Jan – Dec 2017

Bldg. Area m2
Sale Price
Sale Price/ Bldg. Area m2
3603/35 Spring Street, Melbourne, Vic 3000 330 25/10/2017 $7,900,000 $23,939
1903&1904/576-578 St Kilda Road, Melbourne, Vic 3004 740 9/08/2017 $8,175,000 $11,047
5/4-6 Mathoura Road, Toorak, Vic 3142 364 30/06/2017 $6,006,500 $16,501
302/30 Springfield Avenue, Toorak Vic 3142 361 30/06/2017 $6,500,000 $18,006
7/97 Mathoura Road, Toorak, Vic 3142 N/A 28/06/2017 $6,750,000 N/A
402/2 Hobson Street, South Yarra, Vic 3141 353 27/06/2017 $11,000,000 $31,161
3/22 Millswyn Street, South Yarra, Vic 3141 265 30/05/2017 $6,900,000 $26,038
L84, Eureka, 7 Riverside Quay, Southbank, Vic 3006 600 1/05/2017 $15,000,000 $25,000
251/99 Spring Street, Melbourne, Vic 3000 419 6/04/2017 $7,000,000 $16,706
2/29 Washington Street, Toorak, Vic 3142 362 14/03/2017 $6,795,000 $18,771

The Key to Making Money in Real Estate Today

Listen to all the spruikers in the market place. It is as if they are saying… “whatever you buy in the real estate market will make your money, just buy,” the running mantra for every real estate professional selling real estate in Melbourne over the last 5 years.

Truth be known, the fundamental principles of dollar value profit and how to make money out of real estate has been diminished by the two major factors of what not too many people are prepared to talk about

  1. Global Purchaser
  2. Generational shift to Gen Y
Without providing a detailed analysis, a large proportion of Global purchasers of whom have acquired Melbourne real estate over the last 5-10 year period, have not acquired for the same reason as local purchasers have.

The Ever Changing Face of Your Neighbourhood Retail Strip Centre

The disparity between some of Melbourne’s local neighbourhood retail shopping centres and the appetite of local investors continues to bewilder some.

Whilst retailers in general terms continue to complain about the lack of trade and the ever increasing costs of day to day business whether it be the rent or the cost of labour via penalty rates…it seems that unless you are operating a café…you are struggling.

Self Managed Superannuation Funds… The market segment that will hopefully not be the precursor for a real estate change.

SMSF Residential Property Valuations

For those baby boomers nearing the end of their working days or those parties that are planning for that retirement period in future years…be careful. The acquisition that you entered into already may be one of the worst financial decisions you have made or perhaps you may have created an untenable retirement period already for the future years ahead.

Let’s face it, the real estate market specific to Metropolitan Melbourne has witnessed a sustainable increase in levels of value unparalleled for many years. More so since the Global Financial Crisis (GFC). The dollar quantum increases in value in fact, is outstanding and no one in their right mind could argue that those parties that have already prudently acquired real estate over the years will benefit when retirement arrives.