Difficulty in obtaining funding for a project to get off the ground is a difficult task in any property cycle. The base rules of most multi unit apartment developments have been fundamentally the same over the last five year period. Developers need to own the land outright, pre sales are a requirement, the construction/builder is to be known to the marketplace and the entity needs to be able to show debt coverage of a percentage plus basis over the total development period. The simple truth is for a project to get “off the ground”, an intending funder has undertaken their due diligence process.
To state the obvious, ensure that your finance is in place. Obtain a pre approval letter from a financial institution/s stating the amount and terms prior to setting out on you journey to acquire.
Following extensive research, CoreLogic estimated there were 2.6 million investor-owned dwellings across Australia worth approximately $1.37 trillion in total. Meanwhile, current taxation statistics showed there were 2.03 million individual investors, which each own an average of 1.28 investment properties.
In contrast, data from the Australian Securities Exchange (ASX) identified that approximately 6.48 million people, or 36% of the adult Australian population, own shares in property. Investor-owned dwellings were found to comprise 26.9% of all housing stock by number, or 23.8% based on the value of all housing stock.
|
Sr. No. |
Address |
Suburb |
Price |
Date |
Bed |
Description |
Land
sqm (appx.) |
Agent |
| 1 | 4 Waiora Road | Caulfield North | $4,400,000 | May 17th | 5 | The property comprises of 5 bedrooms, park-like gardens, a tennis court, marble fireplace, rumpus room with wet bar, home office, fish pond and three-car garage. | 1,750 | Gary Peer & Associates |
| 2 | 23 Malvern Grove | Caulfield North | $4,030,000 | Oct 24th | 4 | The property comprises of 5 bedrooms, 3 bathrooms, marble open fireplace, landscaped gardens, a heated pool and spa, gymnasium, wine cellar as well as a 4-car garage. | 810 | Marshall White & Co |
| 3 | 2 Carinya Crescent | Caulfield North | $4,000,000 | May 11th | 4 | The property comprises of 4 bedrooms, 4 bathrooms, a fitted study, culinary kitchen with butler’s pantry, covered alfresco area, pool, ceiling speakers, theatre room and a floating marble entertainment unit. | 710 | Gary Peer & Associates |
| 4 | 38 Lumeah Road | Caulfield North | $3,800,000 | Apr 10th | 4 | Single-storey residence comprising of 4 bedrooms, 3 bathrooms, butler’s pantry, landscaped gardens and a swimming pool. | 1,090 | Gary Peer & Associates |
| 5 | 5 Aroona Road | Caulfield North | $3,500,000 | Mar 4th | 5 | Details of the property remain confidential. | 991 | N/A |
| 6 | 14 Craddock Avenue | Caulfield North | $3,500,000 | Aug 20th | 3 | Single-storey residence comprising of 3 bedrooms, 3 bathrooms, study/theatre room, patio and landscaped gardens, chef’s kitchen, double remote garage with storage area, ceiling speakers, motorised retractable awnings and blinds and provision for a lap pool. | 620 | Gary Peer & Associates |
| 7 | 3 Howitt Road | Caulfield North | $3,250,000 | Mar 1st | 3 | Situated within the Golden Mile, the property comprises of 3 bedrooms, 3 bathrooms and a pool. | 1,247 | Gary Peer & Associates |
| 8 | 16 Airdrie Road | Caulfield North | $3,250,000 | Apr 13th | 5 | Single-storey residence comprising of 4 bedrooms, 4 bathrooms, garden and alfresco areas, formal dining room, billiards room, gymnasium/cabana, spa, indoor pool, fishpond and a fully-fitted wet bar. | 1,257 | Gary Peer & Associates |
| 9 | 13 St Aubins Avenue | Caulfield North | $3,225,000 | May 31st | 5 | Double storey residence comprising of 4 bedrooms, 4 bathrooms, 2 gourmet kitchens, pool with landscaped garden surrounds and an outdoor terrace. | 815 | Gary Peer & Associates |
| 10 | 504 Glen Eira Road | Caulfield | $3,160,000 | Mar 7th | 4-5 | Contemporary dwelling comprising of 4/5 bedrooms, 5 bathrooms, plantation shutters, high ceilings, landscaped garden, 4 living areas, stone kitchen, swimming pool, sauna and tennis court. | 970 | Mega City Real Estate |
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