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Real Estate Market

Value of Real Estate Property in 1907 and 2018 – Where is the Comparison?

Written by Mark Ruttner on . Posted in Blog, Real Estate Market

As one of Melbourne’s leading property valuers, all I can say is, if I had a dollar for every time a consumer asks me this question, I would probably have retired already.

Can you provide me with a valuation – you know I don’t need a report, just an opinion of value, an appraisal, or estimate of value.

The Australian Property Institute (API) has recently reported that the marketplace in general substituted the word “valuation” with other alternative means of appraisal, sale price, estimate, assessment, selling range, opinion.

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

Written by Mark Ruttner on . Posted in Blog, Real Estate Market

First Valuation Group Melbourne Prestige Apartment Sales Survey

Jan – Dec 2017

Address
Bldg. Area m2
Date
Sale Price
Sale Price/ Bldg. Area m2
Photos
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

Written by Mark Ruttner on . Posted in Blog, Real Estate Market

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.