Some recent data from the Real Estate Institute of Victoria (REIV) has provided more good news for anyone considering renting out their apartment in “Botanic”.
The latest figures from the REIV show that the median rental for 2 bedroom apartments across Melbourne has now exceeded the median rental for 3 bedroom houses. The figures for the March quarter of 2014 show that 2 bedroom apartments are now attracting a median weekly rental of $390, whilst the figure for 3 bedroom houses is $370 a week.
These figures are further confirmation of the growing popularity of the apartment lifestyle in Melbourne, which will be particularly pleasing for buyers of apartments in Botanic who are looking forward to strong capital growth in the long term.
Of course, if you are yet to secure your apartment at Botanic, we can only suggest that you act soon as there are only 8 apartments now left, and the potential to save on stamp duty will decrease as each month goes by in the construction process.
If you’d like to know more about the figures from the REIV, you can go straight to their website by CLICKING HERE...
According to the latest data from the Real Estate Institute of Victoria, (REIV), purchasers of apartments at "Botanic" have every reason to feel pleased with themselves. The REIV's figures show that units and apartments in Doncaster recorded the highest annual growth in median prices of any suburb in Melbourne during 2013!
The median unit price in Doncaster rose by an impressive 33.7% from the last quarter in 2012 to the last quarter in 2013.
Whilst this is very pleasing news for all those purchasers who have secured an apartment in Doncaster's most exciting new apartment building, it also represents an unmissable opportunity for a few quick buyers, as the developer is still offering a few remaining apartments at their original list price!
But with construction now well under way, time is running out for those buyers who would still like to maximise their stamp duty savings. So be sure to call this week!
Despite time lost due to wet weather during November/December and then heat during January, work has gone on - with more than 10,000 cubic metres of soil and rock removed, we have fnally reached the bottom of the lower basement level. The holes in the lower basement floor will take the foundations for the central columns holding the building up, and the deeper hole with the red and white tape around it is the bottom of the lift shaft, where we will be erecting the site crane in a week or two.
The good news for Botanic owners is that the mudstone we've been exacavating is very hard, providing an excellent, stable foundation for the future. Also, there has been no groundwater flowing into the excavation pit so, even though we have wall drainage in place (you can see the black drains on the last section of exposed wall in the picture above), chances are high that this will rarely be required and Botanic's basements are unlikely to experience the dampness many other apartment buildings suffer from.
Obviously, we may be a little biased, but we're fairly sure that anyone who has bought an apartment at "Botanic" clearly has a love for the finer points of great design. But did you know that an appreciation of fine design is something that extends to the wider community around "Botanic"?
The "Fine Design Market" is a relatively new, independent arts and design market which features locally made and designed products. The good news is that this event takes place on the 2nd Sunday of each month, just up Doncaster Road from the Botanic site at MC Square.
So next time you're driving past to watch the construction progress, why not drop into this popular market and take a look at one more of the many lifestyle benefits that the residents of "Botanic" will soon be enjoying, right on their doorstep?
Botanic buyers will be pleased to see the excavators working late into the evening to carve out their new double basement....
Early next week the first of the concrete piles to reinforce the basement walls and carry the weight of the building will be drilled and poured.
Even though we're spending tens of thousands of dollars each day on building works, there's still a brief opportunity for new Botanic buyers to save up to $25,000 of stamp duty if they move quickly... and existing Botanic owners can earn a free iPad 2 or 40" LED TV by introducing someone who buys one of the last dozen remaining Botanic apartments..... so help a friend choose from the highest quality/best value apartments available in Doncaster today!!
The key focus for most Botanic buyers has been to secure a high quality, environmentally responsible place to live - but this October 16, 2013 Manningham Leader article makes clear that Botanic is also highly likely to be a safe haven for their capital investment.
It points out that Manningham is amongst Melboutrne's most profitable places to own residential real estate, calculated on the basis of the gains made by people selling homes in Manningahm over the last three months.
Whether you are looking for an attractive future home or a residential real estate investment, it's clear that Botanic is well located to help ensure your investment's value is protected and enjoys medium to long term growth.
Here's an item from the local papers that brings even more good news for everyone who has already secured their apartment at Botanic.
It seems that the possibility of having a brand new supermarket literally right around the corner from your apartment is growing stronger. This would, of course, be an added bonus on top of what is already a wonderful array of restaurants, cafes and retail outlets at Jacksons Court.
We'll do our best to keep you updated as more news comes to hand.
It may not look like an exciting picture to everyone, but for astute buyers who have already secured their apartments in Botanic, this is a great sight...confirmation that construction works have commenced and Botanic is on its way.
Approvals are now in place for drilling under Doncaster Road to construct a new sewer line. Work has just started and is expected to take up to two weeks. Following this, construction of the building will commence, with drilling of the piles to form the walls of the basement before excavation of this area begins.
Whilst basement construction is the part of the building program with the greatest potential to be impacted by wet weather, our hope is that good weather will see Botanic coming "out of the ground" well before Christmas.
We came across an interesting article this week on the Property Observer website that we thought was worth sharing. It outlines the findings of a recent study of tenants' preferences on the features they look for in rental accommodation, and it confirms that that Botanic promises to be a very popular address with tenants when construction is completed.
The top 5 features for today's tenants included:
Here's some more great news for those astute purchasers who have already secured their apartment at "Botanic", and those who are ready to do that soon.
The Herald-Sun today has confirmed Doncaster East's place among the suburbs with the fastest growing property values in Melbourne.
As you can see in the table on the right, Doncaster East recorded a remarkable 19.2% increase in value over the past 12 months.
A recent survey of 1000 property owners by Mortgage Choice has indicated that 26% were planning on using the equity in their homes to purchase an investment property. Over half of these planned making this purchase within 2 years, whilst 83% planned to do so within 4 years.
When you consider that this increasing demand will come on top of the growing number of Australians who are buying investment properties through Self Managed Superannuation Funds, that's one more good reason to make sure you secure your preferred apartment at "Botanic" sooner rather than later!
That's right...with just 16 apartments left now, your opportunity to secure your favourite floorplan and position is rapidly running out, so don't leave it too late to reserve your first choice!
Yes, with 50% of Botanic's stunning Architect-designed apartments now sold, and several others reserved, time is running out to choose your favourite floorplan and position.
Construction is due to commence shortly, so make sure you check out the fully fitted display suite while you still can. You call our agents today on 9840 1111 to arrange a personal inspection.
In case you missed it, last week the NAB joined several other major financial institutions in advising their clients that they are expecting more cuts to official interest rates by the Reserve Bank this year.
In fact, they have forecast three separate cuts of 0.25% each by the September quarter of 2013. This comes on top of the ANZ's forecast of four separate cuts, and AMP's forecast of two cuts before the end of June.
The good news for "Botanic" buyers is that you can secure your preferred apartment now, with plenty of time to take advantage of the great interest rate deals before settlement.
If you'd like to know how you can make this work in your favour, call our agents today on 9840 1111.
Did you know that for all settlements after the 1st of January 2013, first home buyers in Victoria now qualify for an additional reduction in stamp duty? For all first home purchases under $600,000 the discount on stamp duty increases from 20% to 30%, as long as the property is used as your own residence.
But if you want to take advantage of even BIGGER stamp duty savings, (whether you're a first home buyer or not), make sure you have a chat with our agents soon. With construction due to commence shortly, we have put together some really outstanding deals for those buyers who reserve their apartment before the digging starts!
It's no wonder the Doncaster area is so popular with home buyers of all backgrounds when residents can be part of such a friendly and interesting multicultural community.
One example of this is the Manningham Multicultural Festival, which this year will be held on Saturday 17th November at beautiful Ruffey Lake Park, which is just a short walk from Botanic.
Make sure you circle the date in your calendar now!
In case you missed it, the recent Spring edition of the "Domain Property Review" in 'The Age' made really interesting reading.
Whilst past performance obviously does not guarantee future performance, it was very reassuring to see that UNITS IN DONCASTER EAST AVERAGED 5.7% GROWTH IN MEDIAN VALUE PER YEAR OVER THE PAST 5 YEARS.
Not only was this well above the average Melbourne house average of 4.6% per year or the Australian capital city average of 2.7% per year over the same period, but this was acheived through a period of enormous financial uncertainty across the globe and here in Australia.
It's just one more reason why "Botanic" really is better, so if you haven't reserved your preferred apartment yet, be sure to call our agents today on (03) 9840 1111.
Quite a number of our recent buyers have been curious about Botanic's emphasis on energy efficiency. So it was interesting to see on Domain.com.au last week that this year's "HIA GreenSmart House of the Year" was a display home with an 8-star energy rating.
Botanic, of course, averages an impressive 7.5 star rating across the entire building, rather than just one apartment!
Who knows, maybe the residents of Botanic will be celebrating living in an award winning building themselves when we get to moving day?
If you saw the article in today's Property section of the Herald-Sun written by Cameron Kusher from RPData, you'll already know why Botanic represents such an outstanding opportunity for those who wish to secure their own financial future through property investment.
If you missed it, not only did RPData's latest figures comfirm that property values across Melbourne have been rising for the past 3 months in a row, but they also pointed out that Melbourne's values have averaged 4.6% growth per year over the past five years. That means that despite the global financial crisis amd all the uncertainty, Melbourne has outperformed the rest of Australia which averaged 2.7% over the same period.
When you combine these statistics with the knowledge that Botanic is going to be a better place to live, and therefore highly sought after by prospective tenants, there's a lot of good reasons to ensure that you speak to our agents today to ensure that you don't miss out!
Our hearts go out to the family and friends of the women caught up in today's tragic apartment fire in Sydney (link below). As we mentioned here last month, incidents like this are a graphic reminder of why we went to so much trouble to protect the residents of Botanic from having to face a similar situation.
Not only does the Botanic fire safety system include automatic sprinklers in every apartment on every level of the building, but it also services the communal access areas and BOTH levels of the basement garage.
It's just 15 short days since Botanic's display suite opened and we're already at the 30% sold mark!!! This would be a great start at any time, but in the current market Botanic's sales performance really speaks for itself....Botanic's future residents are all saying the same things:
We've even had buyers' families and friends coming back to look fo
Several buyers have commented recently on the effort we have made to maximise fire safety for every resident of Botanic. Not only does the fire sprinkler system protect every single apartment and the communal access areas, but it also extends to both levels of the basemnent garage.
The link below is a graphic and unbiased explanation of why we have gone to these lengths, and just one more reason why Botanic really is better.
Take a look at:
Yes, it's less than a week since the Display Suite at Botanic opened its doors to the public for the first time, and already more than 20% of the apartments in this ground-breaking apartment building have been sold, with several more reserved.
Clearly we're not the only ones who have realised that Botanic really does offer a better quality lifestyle and investment. So don't leave it too late to register your interest!
Metaffliction is just $85 away from having raised the $4500 needed to cover the remaining costs of audio post-production, colour correction and festival entries. This enthusiastic and creative young team of local film makers and artists is extremely close to having a finished product and just needs your support to get the project over the line. Botanic, another great local project, is a Metaffliction sponsor. Why not go to:
to see a Metaffliction trailer and get details of the great rewards available to donors... don't miss this exciting opportunity to sponsor local talent!!
Who says there's nothing romantic about a construction site? This photo is a still from the movie "Metaffliction" that we told you about back in March, which was filmed in and around the houses that previously occupied the Botanic site.
Clearly there was a bit of on-screen chemistry happening back then, so don't be surprised if you find yourself feeling a bit of chemistry as well when you visit the Display Suite and discover just how much better Botanic really is!
Want to know a little more about Botanic and the amazing array of facilities right on your doorstep? A short video is now available on our facebook page or you can simply follow this link by CLICKING HERE...
Yes, the much anticipated Display Suite will be opening its doors to the public for the first time this Thursday, but we have already reached the 10% sold mark with several more apartments reserved by buyers who are keen to secure their own special part of Botanic. So don't leave it too late to discover the exciting list of features that has everyone talking. See you there on Thursday!
If you've been waiting anxiously for the opening of the Display Suite at Botanic, the exciting news is that you will be able to get up close and personal with many of the exciting details that make this apartment building so special from Thursday 16th August.
However, if you are keen to reserve your preferred apartment before then, you need to know that sales are being made right now and a number of apartments already have reservations on them from keen buyers, so don't leave it too late!
If you've ever wondered how we are able to capture the outlook from the penthouses and apartments on the 3rd floor, our secret is out! This is the team from open2view with their pole mounted camera. They were able to capture the outlook at the exact height of the balconies at Botanic.
Be sure to ask your agent if you'd like to know what the view will look like before you've even moved in.
Well, the market reaction to Botanic has certainly been a positive one. The first two sales were confirmed today with the signing of contracts, despite the Display Suite still being very much under construction!
If you have been past the Botanic site in Doncaster Road recently you may have noticed that we have made good progress and the demolition of the 1950's style houses that previously occupied the site has now been completed. You will see construction of the Display Suite commencing almost immediately.
Prior to demolition of the 1950's properties that previously occupied the Botanic site, a group of students living there used the houses for location shots in an experimental film. METAFFLICTION tells the story of Anton, an aspiring film director who casts himself in the lead role of his movie and subsequently struggles to differentiate between reality and the fictional world he has created. Anchored around the aftermath of a hit and run car accident, Metaffliction employs a unique multi-character narrative to examine the fine line between reality and fiction. Metaffliction was shot over 21 days between Jan and April 2012. You can see a trailer at: http://www.pozible.com/index.php/archive/index/7432/description/0/0
872 - 874 DONCASTER ROAD,
MELWAY REF 47 J1
DISPLAY SUITE OPEN AT ADVERTISED TIMES
OR BY PRIVATE APPOINTMENT
PHONE 03 9840 1111
MICHAEL MAMASIS ON 0418 358 478
OR SCOTT GEORGE ON 0410 753 549
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