By Antony Bucello
Having successfully purchased over $50million of property for our clients throughout 2014, our talented buyers agents are well equipped to identify a good investment when it comes their way. Here are my top picks of 2014.
Best Bargain
Category: Investment Property
Type: Apartment
Location: Tasman St, Preston
Purchase Method: Auction, July 2014
Price Quoted by Selling Agent: $320-350k
NPB Assessment of Value: $370,000-395,000
Purchase Price: $371,000
Rental Return: $330 per week
Gross Rental Yield: 4.6%
Antony says: This refurbished ground floor apartment in a small block offers great potential for growth and a very good rental yield. Bought at the low end of our range, we have an extremely happy client as they were prepared to pay more if required.
Best Investment
Category: Investment Property
Type: Apartment
Location: Elphin Grv, Hawthorn
Purchase Method: Auction, March 2014
Price Quoted by Selling Agent: $450,000+
NPB Assessment of Value: $510,000-530,000
Purchase Price: $517,500
Rental Return: $390 per week
Gross Rental Yield: 3.9%
Antony says: We consider this position “blue chip”. This is a large and spacious 2 bedroom apartment at the rear of the block in a high quality street in Hawthorn. The natural light and sweeping views of the city make this a highly desirable place to live. Additional features include excellent security and undercover parking. Providing a solid rental return in the short term and certain capital growth over the medium-long term.
Best First Home Buy
Category: Owner Occupier
Type: Villa Unit
Location: Devon St, Cheltenham
Purchase Method: Auction, November 2014
Price Quoted by Selling Agent: $440,000+
NPB Assessment of Value: $470-490k
Purchase Price: $475,000
Antony says: This villa unit was completely renovated, with street frontage, it’s own driveway, and an abundance of natural light. Located within the desirable “Golden Triangle” of Cheltenham, this property is walking distance to Charman Rd.’s shopping strip and train station, within easy reach of Southland and bay beaches, which was a priority for our first home buyer client.
Best Owner Occupier Purchase
Category: Owner Occupier
Type: Freestanding House
Location: James St, Williamstown
Purchase Method: Auction, June 2014
Price Quoted by Selling Agent: $800,000 – $880,000
NPB Assessment of Value: $970,000 – $1,010,000
Purchase Price: $990,000
Antony says: Our overseas clients were prepared to pay over $1m for this property, located in the heart of Williamstown close to The Strand Waterfront and Ferguson Streets café culture. With district Victorian features and character, and potential to improve, we were wrapt to secure this home for less than $1m under competitive buying conditions.
Best High End Purchase
Category: Owner Occupier
Type: House
Location: Holywood Grv, Carnegie
Purchase Method: Auction, September 2014
Price Quoted by Selling Agent: $1.15m-$1.25m
NPB Assessment of Value: $1.5m-$1.55m
Purchase Price: $1,575,000
Antony says: This highly contested Edwardian period home was in a great position, attracted a big crowd on auction day with no less than 5 bidders. Within walking distance to Koornang Road shops, cafes, train and schools, our interstate clients fell in love with this property (as did others) and plan to live there for the long term. Patience and a considered bidding strategy were key to securing this fantastic home.