Over the course of its residential life, the CBD property market in Melbourne has had a long and volatile history. There is no period more than the last two years.
With a mass exodus of residents in early 2020 and intermittent lockdowns due to COVID-19, growing instability and international war, along with rising inflation and a painful federal election campaign, Melbourne’s property market, particularly within the Central Business District, is beginning to slow.
This causes some caution from buyers and investors.
But, as with all rules, there is always an exception.
The team at Donazzan Boutique Property (DBP) headed by founder Gina Donazzan continues to prove that the CBD remains one of Melbourne’s most desirable suburbs with cavalry of strong results.
“I really believe what we do and how we do it makes a difference,” Ms. Donnazan said. “Our process is no ordinary style, and I will not sacrifice transparency, integrity and hard work.”
Some of Mrs. Donazan’s recent findings include a three-bedroom home in the iconic Georges Apartments that sold for $2.4 million; One of the city’s rarest heritage penthouses on 1st Exhibition Avenue, boasting expansive views of the Yarra River and Botanical Gardens, again selling for $2.4 million; and 237 Flinders Ln, another impressive piece of architecture, which, despite being adjacent to subway tunnel construction, still sells for $2.15 million.
According to Ms. Donnazan, an increasing number of people are seeing the city as a beautiful option for themselves to get around, whether it’s through prime CBD timings or locals hopping from apartment to apartment.
Research by the City of Melbourne found that more than 56 per cent of early-stage homebuyers surveyed were likely to consider buying in Melbourne, with many citing the city’s allure and desire to get up close and personal with the action.
While 48 per cent of those already living in Melbourne said they would also consider buying property in the area.
DBP Director Kim Davey said CBD News As their agency continues to defy market expectations, one common denominator is the catalyst for their success.
“I’m obviously a bit biased, but I have a strong belief that the results are directly related to the agent you choose, and no CBD agent is known like Gina,” said Mr. Davey.
“You have to go with an agent who constantly talks with their customers every day. Their customers don’t look at REA but refer directly to it to get a measure in the market.”
“There are still beautiful real estate and beautiful buildings on offer in the CBD, come and talk to some of the agents who have been working here for decades.” •
for more information: donazzanboutiqueproperty.com.au