First how good is it to be back in an environment where property has reemerged as being positive. Staying outside the property game market is injurious to your financial health! It’s seven years since the last time we could say that.
We’re seeing record auction clearance rates. Property prices are increasing in most markets, particularly the big cities. The highest percentage of property is now being taken to auction. Confidence to upgrade one’s home is being backed by enthusiasm of a cycle a-go.
At Ray White, we didn’t get to $3billion in October as we’d hoped but we just missed. Sydney, as it always seems to do early in a recovery, has led the way. The appeal of Sydney for Asian purchasers is supporting this. Melbourne and Queensland were also strong.
Loan Market set a new submissions record with $871million in loans lodged in Australia alone; further proof that the market is moving in our direction.
Click Here to read the latest edition of The White Paper, Brian White’s review of the market and Ray White Group activity in October.