Marshall White Weekly News Update
While the "race that stops a nation" preoccupied many people on Tuesday, mortgage holders held their collective breath for another announcement from the Reserve Bank. In welcome news the RBA board decided to cut interest rates for the first time in two and a half years. The reduction of 0.25 per cent was immediately passed on in full to customers by most of the major banks. Although the Spring Racing Carnival led to a reduction of auctions scheduled for the weekend, Marshall White achieved some very solid results at both auctions held on Saturday and during the week. Achieving the highest reported price in Melbourne for the week, a beautifully renovated timber Victorian residence at 34 Chatsworth Rd, Prahran East sold for an exceptional price of $3.1375 million in a mid week auction.


