373 St Kilda Street BRIGHTON

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Excellent land content as proportion of price
Higher risk as newer precinct
Lower risk established look

Concerns

Requiring significant additional cash to purchase price
Poor street
Possible negative noise impact
James Home Ratings
James Home Ratings
03 9804 3133
enquiry@james.net.au

Comments on 373 St Kilda Street BRIGHTON

373 St Kilda Street gives buyers the opportunity to consider options to achieve the dream of a Brighton residence surrounded by some of Brighton's most expensive 'Golden Mile' real estate.

While we have rated this as land only, the existing home is in basic order with a typical but awkward floorplan and set well back on the block.  On the one hand, this may pose protection from traffic noise on always busy St Kilda Street.  On the other hand, there may be little room for renovating to the rear of the property and leaving space for a good size garden.

Whether renovating or building new, there is money to spent over and above the purchase price.  This begs two key questions - how much additional cash will be required to achieve the dream and is the total spend better placed AND achievable elsewhere?  To the buyer looking for long term outcomes - this question may take on lesser or greater significance. 

Last bought in a October 2012 (a slower market) for $1,300,000, buyers may wish to consider how St Kilda Street traffic and noise may impact long term growth and the return on any investment. However, this is 2014 and there is heat in certain parts of the market.  With prices for land in other parts of the suburb ranging upwards from $2500/sqm and growing, buyers may be more prepared to compromise on weakness in terms of its busy street location. 

Examples of recent sales demonstrating growth including 23 Huntingfield Road Brighton which sold in August 2014 for $2.06mil, 33% higher than the $1.555mil achieved in November 2012 and 27 Grout Street Hampton, selling in July 2014 for $1.39mil, 19% higher than the $1.17mil achieved in March 2012. Further demonstration that value is a collective of opinions, affected by  - 40 Lynch Street Brighton, sold November 2009 for $1.625mil, passed in at auction in August 2013 for $1.6mil with no bidders and sold June 2014 for $1.785mil with 3 bidders.  Growth yes - but demonstrating that the value proposition is affected not only by the utility of the land - but competition and external market forces.


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What our clients had to say about James

Nonetheless we accepted the client’s right to complain. A client complaint was received for our tardiness in highlighting council documents relating to a flood plain. We felt this complaint was harsh as the document was discovered by us as part of our due diligence which nobody else we are aware of actually does and it was sent to the client. Nonet ...more

ELWOOD

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0
Bedroom
0
Bathroom
0
Parkings
759sqm
Land Area
Floor Plan Agent

Private Sale

Quote $1,300,000+

West Facing

Full James Rating Sheet

Be with James

Would you like to talk to us about finding or negotiating on your next home?
We buy 100 homes for our clients every year.
We buy Inner East and Bayside over $2m.

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Homes We've Bought

What our clients had to say about James

Nonetheless we accepted the client’s right to complain. A client complaint was received for our tardiness in highlighting council documents relating to a flood plain. We felt this complaint was harsh as the document was discovered by us as part of our due diligence which nobody else we are aware of actually does and it was sent to the client. Nonet ...more

ELWOOD

Read all testimonials