Marshall White Latest News
Good Auction Results
In the final few weeks of 2011 auction numbers are strong and bidding continues to be competitive for many properties. Marshall White sold 21 properties at or before auction on the weekend including 5 that achieved prices above the $2 million mark. In the Sunday Age, Marshall White Director, John Bongiorno described the state of the property market: ”We sold just over $32 million worth of real estate (on Saturday). There is good activity out there- at a price. I think the greatest deterrent to this market is negative commentary. There has never been a better time to buy an investment property.” There are now only 3 weekends of auctions remaining in which to secure a property before Christmas.
Consumers in a Good Position to Buy
“The latest home-finance index confirms that property consumers collectively have everything in their favour but are disinclined to take action. They await some magical signal that it’s OK to buy something. There’s a paucity of confidence, certainly, but the biggest problem is the inability of the average punter to think and act independently.
According to the Commonwealth Bank/Mortgage & Finance Association of Australia Home Finance Index for September, Australians are well-positioned financially but are reluctant to act. Consumers’ savings are healthy and their mortgage stress is low…Reticence about buying property seems linked to the perceived state of the economy, not the personal financial state of consumers.”
(Source: Terry Ryder, The Weekend Australian, 26-27 Nov, 11)