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Property Consistent in Stonnington

March 22, 2011

 

Property results in Victoria remained stable on the weekend, with a 66% clearance rate for the state. In fact, the past four weeks have been clearance-rate ‘groundhog’ days with similar results each weekend. On the 19th and 20th of March there were 881 homes that went under the hammer, of which 579 sold and 302 passed. As a market snapshot looking back at 2010, this time last year the clearance rate was at 87%.

2010 was a very productive year for capital growth in the Stonnington area, with Armadale performing the strongest for growth in house median sale prices – up 33% from the previous year. Similarly, the median sale price for units was up 14% from the previous year’s results too. When we look at the ups and downs of property market and the relative holding pattern we’re in currently, it’s important to look at the kind of growth we continued to experience in 2010. Prahran’s median sale price has remained almost the same in the last year, at a current price of $500,000.00

Auction Wrap for Prahran – 19th to 20th of March 2011.

It was a big auction weekend with a range of different properties available to property punters.

206 Punt Road was sold before the auction date for $757500.00

32 Closeburn Avenue was sold before the auction date for $1010000.00

5/1 Lumley Court was passed in for $260000.00

7/67 High Street was passed in for $500000.00

28B Commercial Road was passed in for $1000000.00

314/153B High Street was passed in without a bid.

56 Packington Street was sold under the hammer for 1050000.00

3 Kent Lane was sold under the hammer for 720000.00

*Stockdale and Leggo Prahran has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Victorian press both virtual and hardcopy, 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 and observations offered should not be treated as fact.

Calling all Design Lovers!

March 17, 2011

L’Oreal Melbourne Fashion Festival just not your bag? We’ve got your solution if you’ve got a mean case of festival-fear-of-missing out. The Designex Design and Architecture event brings world-class talent straight to Melbourne… and Stockdale and Leggo Prahran are giving you the opportunity to enter for free!

From the 13th-15th of April, the Melbourne Convention Centre hosts Designex. Now in its 23rd year, Designex is a staple in the Melbourne architecture and design innovation calendar. Come along and see the best from your favorite brands, and also discover new products from market ingenues. You can also register FOR FREE to attend this trade expo by clicking here – they’re even giving away a few Ilve coffee machines to sweeten the deal.  New features at Designex for 2011 include keynote sessions with luminaries such as Studio Fuksas and the Ministry of Design. Come and see the best from Australian favorites such as Dulux, Ilve and Porter’s Paints.

*Stockdale and Leggo Prahran has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Victorian press both virtual and hardcopy, 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 and observations offered should not be treated as fact.

Melbourne Jewish Icon Stays Strong

March 15, 2011

Sitting elegantly on Albert Street in East Melbourne, the stylish and most senior Melbourne synagogue is having a new flush of popularity at the top of town.

Under the guidance of the popular Rabbi Dovid Gutnick, the 1877 Albert Street City Melbourne Synagogue  is enjoying a resurgence in popularity from the community. Originally constructed to serve to large Jewish community in Carlton and the inner-north, its most frequented period was in the 1930s.  According to Rabbi Gutnick, when the Reverend Rechter sang on Yom Kippur night, all 600 seats were taken and there were lines of people down the streets. However, by the 1960’s much of Melbourne’s Jewish community had migrated to Caulfield and St Kilda East, and the Albert Street synagogue had few come to prayer. Rabbit Gutnick is regarded as being one of several younger rabbis who have brought back the inner-city Jewish community to prayer and celebration, with the synagogue being a popular wedding and bat mitz vah venue. He is also an officially inducted chaplain in the Australian Defense Force.

*Stockdale and Leggo Prahran has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Victorian press both virtual and hardcopy, 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 and observations offered should not be treated as fact.

Hot Property At Stockdale & Leggo Prahran

March 10, 2011

We know you’ve got a burning desire to purchase a quality home in Melbourne’s premium suburbs – and thankfully we’ve got the solution for you too! Please have a browse through some of our most recent listings, and contact Director Barry Feldman on 0410 448 277 to find out more about each home. Happy hunting!

19 Wrights Terrace, Prahran – $759,000 (image inset)

Charming 2 bedroom Victorian home that is calling out for your love! Reconfigure and redecorate to make it your very own. Rear courtyard for an urban oasis – this one’s a jewel waiting to be polished. By private inspection only.

5/11 Shoobra Road, Elsternwick – $345,000

Perfect neat apartment for a first home owner or savvy investor. Terrific position close to Glenhuntly Road and yummy restaurants.

6/321 Orrong Road, St Kilda – $589,000

If you love entertaining, you’ll enjoy the huge courtyard that this 2 bedroom apartment offers. Located on prestigious Orrong Road, this modern apartment is entirely contemporary and bright. Open for Inspection Sunday 13th March from 1:00 – 1:30pm.

G01/8 Porter Street, Prahran – $206,000

Kick super to the kerb and get self managing with this terrific little earner. Returning $12780 per annum, this student accommodation special is close to Prahran Market and educational institutions. Includes a carpark and storage cage.

*Stockdale and Leggo Prahran has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Victorian press both virtual and hardcopy, 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 and observations offered should not be treated as fact.

Stockie’s Prahran Stonnington Update

March 7, 2011

 

Living in the council of Stonnington, we’re lucky to have a council that provides its community with so many activities aimed at creating a happy neighbourhood. This month is chock-a-block with activity so Stockies Prahran thought we’d point out the best and brightest available to you and your family in March around Prahran, Windsor and South Yarra.

Pets In the Park – Held on Saturday 26th March, this is the perfect event to take kids, pets and even parents who need to get used to the idea of pets along to!  Come to Central Park, Burke Road in Malvern East between 11am and 4pm to see a Pooch Parade sponsored by Pookinuk, get your puppy or kitten microchipped at a discounted rate (!) and enjoy a range of exhibitors pet-related products. Woof! 

Business Schmooze – Meet local business-minded members of the community in this terrific forum. A regular event, pop along to the Prahran Town Hall ( 255A Chapel Street, Prahran) to hear Harold Mitchell AO discuss his business history from being a media buyer to now being a philanthropist and  part owner of the Melbourne Rebels. From 7:00 – 9:00am on the 30th March, click on the link included to book your seat.

Flavours Festival – Come and celebrate the diversity of our neighbourhood at the Grattan Gardens in Prahran on Saturday 19th March from 11:00am to 4:00pm. There will be a range of multicultural cuisine, music and dance on show at this family-friendly and free event. From mah-jong to origami and story-telling, there’s something for everyone.

*Stockdale and Leggo Prahran has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Victorian press both virtual and hardcopy, 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 and observations offered should not be treated as fact.

Fun Factory Not So Much

March 4, 2011

Remember South Yarra’s Fun Factory? Perhaps you were a teenager dining at the ubiquitous Toorak Road Soda Rock Diner? This site and heritage building are now going to be re-developed in what will be Melbourne’s tallest residential tower outside of the CBD.

Recently approved and designed by Melbourne luminaries Bates Smart, the 38 storey tower will replace the 1933 Capitol Bakeries building that now houses the Fun Factory. The developers have now put in an application to extend the height of this tower another five levels. Rich with art deco design and elegant byzantine doors, the original Capitol Bakeries building was approved for demolition by the council in 2002 and has since had a Nonda Katsalidis design for the site knocked back. The project is touted to be costed at $150 million, incorporating  a large shopping centre and 7500 square metre office building. Because of the size of The Capitol development (so named for the building it will replace), other features of the streetscape will also change, with Almeida Crescent being converted to a residential street and footpaths along Toorak Road and Chapel Street to be widened. The development will include gym and pool facilities, lounge area and lap pool. Many of the apartments will have northerly vistas with city and bay aspect. Developed by the Palan and Tertini families in association with APN Property Group, this is one development which will change the heart of what we know as South Yarra. Watch this space.

Capitol Bakeries circa 1933, corner of Toorak Road and Chapel Street South Yarra.

Artist’s impression of The Capitol development corner of Toorak Road and Chapel Street South Yarra, the tallest residential tower outside of Melbourne’s CBD.

*Stockdale and Leggo Prahran has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Victorian press both virtual and hardcopy, 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 and observations offered should not be treated as fact.

Stockdale and Leggo Prahran Market Report

February 28, 2011

Stockies Prahran give you the lowdown on the local market in Prahran and Windsor for the weekend 26th and 27th February 2011. If you’d like to know more about how your own property compares to those on the market or recently sold, make sure to contact Barry Feldman on 0410 448 277.

If you were out and about on the weekend, you’ll have noticed a lot of buzz and activity at property open for inspections. That’s because last weekend featured a total of 890 auctions under the hammer, with 590 of those homes sold (clearance rate of 66%). Last year at this time, the clearance rate was 87% with 979 homes auctioned. What are the differences between now and then? Now we’ve got higher interest rates to contend with, as well as a more expensive housing market. In Prahran, we saw 4 of the 7 properties auctioned sell. Of those passed in, only one of these was on a vendor bid – indicating live buyer interest in those homes and likely sales to come. In Windsor there were 4 homes under the hammer, of which there was an 100% clearance rate. Bravo Windsor!  What was the breakdown in houses versus apartment sales? Across the state there were 555 homes of which 64% cleared, and 318 apartments of which a slightly higher rate of 69% cleared. Next week looks to see a similar amount of homes under the hammer.

*Stockdale and Leggo Prahran has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Victorian press both virtual and hardcopy, 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 and observations offered should not be treated as fact.