Spring is in the air!

October 13, 2010 § Leave a comment

The sun is starting to shine, grass is being cut and the sweet scent of blossom wafts through the air. It is these tell tale signs that mark the beginning of the spring social season. For the J.C Street girls this is an exciting, hectic and action packed time of the year.   

Spring Racing Carnival… The countdown is over. Couture dresses, sparkling jewels, extravagant hats and sensational stilettos complimented by a day off and glass of Champagne. What more could a girl want? So unless Mother Nature rains on our parade the J.C Street girls will be at the spectacle just before the first horse jumps.

We would love to see you at the race. Who will you be? Where will you be? And most importantly what will you wear?

 As we don’t take well to falling down rabbit holes remember to let one of the girls know where to find you!

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Home prices down ahead of likely rate rise

October 1, 2010 § Leave a comment

 

Home prices fell in August amid expectations price growth for the year will grind to a halt if the Reserve Bank lifts interest rates.

The median national home prices dropped 0.2 per cent in August, seasonally adjusted, following a 0.4 per cent increase in July, RP Data-Rismark figures show. The national city median dwelling price fell to $457,000 in August from $465,000 in July.

In unadjusted terms, capital city home prices were flat in August, after a 0.1 per cent increase in July.

House prices rose for 17 consecutive months to June when rising interest rates and falling new home sales and loans combined to slow growth. The Reserve Bank, which started lifting rates in October 2009, is expected to lift rates again next month, with the market tipping a two-in-three chance of a 25 basis point rise. That would move the official cash rate up to 4.75 per cent from 4.5 per cent.

Read more…

Auctions rescheduled ahead of AFL rematch

September 27, 2010 § Leave a comment

 

The Real Estate Institute of Victoria (REIV) expects a large number of auctions to be rescheduled ahead of Saturday’s AFL grand final rematch.

Grand final weekend was one of the slowest for auctions with about 50 across Melbourne.

Almost 600 auctions are planned for this weekend.

A spokesman from the REIV, Robert Larocca, says it is an unprecedented situation for the Melbourne auction market.

“We won’t know for a day or so. Some [auctions] will shift to earlier in the day, some will shift to Sunday and some will shift to the weekend after,” he said.

“It will depend on the day, place and time and how the agent and vendor are feeling.”

Source: ABC News

Court ruling spells trouble for investors and rental agents

September 24, 2010 § Leave a comment

A recent NSW court decision will push investors and rental agents to take a closer look at safety in their properties after more than $840,000 was awarded to a tenant injured by broken glass.  

Chances are you’ve never heard of the case of Hunt v Roads and Traffic Authority of NSW, but this recent court decision could have a far-reaching consequences for unwary property investors around the country.  

Read more…

  The ruling cuts right to the heart of the issue of what “duty of care” an owner and their managing rental agent owes a tenant, their awareness about potential problem areas in rental properties, and the importance of complying with building codes when conducting even routine maintenance.

Under the Hammer – Channel 7

July 27, 2010 § Leave a comment

The secrets of the property market are unlocked in UNDER THE HAMMER, Channel Seven’s new documentary series that takes viewers beyond the front gate and into the wild world of real estate.

Featuring J.C Street Real Estate!

Click to Watch!!

Serrata Docklands – Will it go ahead?

May 10, 2010 § Leave a comment

 

Lend Lease and Victoria Harbour residents don’t seem to be looking eye to eye over the developer’s proposed 15-storey residential tower in Bourke Street.

Recently a community meeting was faciliatated by Teys Strata Management with key stakeholders present. The body corporates of the Mosaic and Montage have suggested that they were misled by Lend Lease when purchasing their own investments several years ago. They claim they only ever expected low-rise community living.

Lend Lease say that the State Government wanted more inner-urban dwellings built, and as such encouraged Lend Lease towards higher density building. Lend Lease representative Ben Coughlan did show residents plans and drawings of the proposed development.

It will be called Serrata and will be constructed nearby to the Montage and Mosaic apartments. It will be a suggested 15 storeys, housing approximately 144 apartments. Most of the apartments will be one bedroom units without carparking.

The price range is intimated to be between $385,000 and $750,000.

This will be an interesting development to watch – previously Docklands was very much a ‘whiteboard’ without a community to consult – a developer’s dream you’d probably say. Now however, Docklands has developed into a thriving community – a community which wants its opinions and voices heard.

Disclaimer: This article is written to inform but is a personal opinion only. No information herein should be used to make any financial decisions or otherwise based upon.

Quarterly Update The Arkley

May 6, 2010 § Leave a comment

 

The Arkley Building – 20 Rakaia Way Docklands

Welcome to your Quarterly Review for 2010 at the Arkley.

The Arkley, the first building constructed on the NewQuay established the principles of the strong, elegantly robust architectural expression emphasising form and place making.

Comprising 176 apartments and approximately 1,900 sqm of retail and restaurant space over 21 levels, this building defines the promenade plaza leading down to the Harbour and sets the canvas for the sculpture ‘Silence’ and the Icon Restaurants. With the promenade forming an important and integral part of the Public Realm of the Docklands precinct which is a fully accessible public water front.

The integrated artwork on the perforated aluminium sheet north façade of The Arkley is ‘Outside Inside Out’ by Matthew McCarthy of Clear Design.

20 Rakaia Way, Docklands

FIRST QUARTERLY REPORT

Top Sale in the Arkley for Q1 2010: 501/20 Rakaia Way $818,000

Bottom Sale in the Arkley for Q1: 1008/20 Rakaia Way $535,000

Number of Apartment Transactions at The Arkley in Q1: 2

Number of Auctions at the Arkley: 0

Average Sale Price at the Arkley in Q1: $629,333

Sales for Q1 2010 at the Arkley:

1008/20 Rakaia Way $535,000 Two bedrooms

501/20 Rakaia Way $818,000 Three bedrooms

Rentals for 2009:

503/20 Rakaia Way $545 pw Two bedrooms

1309/20 Rakaia Way $400 pw One bedroom

1603/20 Rakaia Way $650 pw Two bedrooms

607/20 Rakaia Way $580 pw Two bedrooms

2003/20 Rakaia Way $590 pw Two bedrooms

1409/20 Rakaia Way $380 pw One bedroom

1106/20 Rakaia Way $520 pw Two bedrooms

1509/20 Rakaia Way $400 pw One bedroom

706/20 Rakaia Way $680 pw Two bedrooms

SECOND QUARTERLY REPORT

Top Sale in the Arkley for Q2 2010: 501/20 Rakaia Way $760,000

Bottom Sale in the Arkley for Q2: 1008/20 Rakaia Way $550,000

Number of Apartment Transactions at The Arkley in Q2: 3

Number of Auctions at the Arkley: 0

Average Sale Price at the Arkley in Q2: $637,333

Sales for Q2 2010 at the Arkley:                

703/20 Rakaia Way $602,000 Two bedrooms

707/20 Rakaia Way $550,000 Two bedrooms

1806/20 Rakaia Way $760,000 Three bedrooms

Rentals for Q2 2010 at the Arkley:

1202/20 Rakaia Way $750 pw Three bedrooms

1403/20 Rakaia Way $670 pw Two bedrooms

503/20 Rakaia Way $545 pw Two bedrooms

1309/20 Rakaia Way $400 pw One bedroom

1603/20 Rakaia Way $650 pw Two bedrooms

Inset: Arkley McCarthy perforated art work

Facilities:

The development has a great sense of community which is encouraged by facilities such as the heated outdoor pool, spa, gymnasium, golf practise net and common outdoor area.

There is also a thriving retail element at Docklands, which provides great convenience and appeals to many of the owners and tenants in the block. Restaurants such as Live Bait, Berth and Mecca Bah have a cult following, as does the new super-supermarket Costco. A new shopping precinct featuring many well loved stores and the impending addition of Myer add to desire for leasing accommodation who work at Docklands. There is great parking facilities onsite for visitors, and wonderful proximity to Etihad Stadium. Employers such as NAB and ANZ have also moved their sizable workforces to the Docklands precinct, making growth from the corporate sector a sure thing.

Demographics:

Since original settlement, we have seen the slow but steady shift of higher occupancy rates by owners. Most purchasers at the Arkley are young professionals who work locally in the CBD. There are a few more mature owners or families from the country who utilise their apartment as a ‘lock up and leave’ second home. There are investors also who lease privately or through serviced apartment arrangements.

For in depth information on the history of Docklands, click here

Year of Build: 2003

Developer: MAB Corporation

Architect: Plus Architecture

Website for NewQuay

Number of Apartments in Block: 176

Construction Nearby Underway:

The Southern Star Skywheel is in construction, and will likely mimic a London Eye style tourist attraction. VicUrban are currently constructing a development named Convesso Concavo.

Forecast for the 2010-2011 Financial Year:

We have had strong owner occupier interest in the Arkley and Newquay developments this year to date. Despite the RBA having raised rates several times in the past 6 months, clearance rates of stock in the 3008 neighbourhood is very strong. Mum and Dad investors could well make a comeback in 2010 once first home owners lose their puff and buying power. The Arkley offers a unique buying opportunity in a blue chip neighbourhood which should cushion it from too many market fluctuations.

For further information on this, or any other property needs you may have, please contact:

Julie Street m) 9600 4988 or e) julie@jcstreetrealestate.com.au

Please note: All information provided herein is of a general nature. No decisions should be made based on this information without further private research and advice.

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