M A R K E T U PDATE R E P O RT
Mornington Peninsula
As winter’s icy chill swept across the State, the top end of Melbourne’s real estate market remained comfortably warm, with quality properties continuing to achieve solid prices.
Specialising in prestige property, sales results from Marshall White’s seven company-owned offices located in Stonnington, Boroondara, Port Phillip, Balwyn, Bayside, Mornington Peninsula and Manningham continued to buck the current overall downward market trend. Our market is led very strongly by buyers with a desire to pin down a family home for a generation, in a locale where lifestyle is paramount. With less volume
As we anticipated, after having experienced many
anticipated in the market over the next three to six
changes of Government over the years, the lead-up
months, we are expecting the upward pressure
and outcome of May’s Federal election did little to
on prices to be maintained.
dampen buyer sentiment, nor did the aggressive but predicted Reserve Bank interest rate rises. While some
Our final quarter auction data show there is still a great
vendors adopted a ‘wait and see’ approach, others
deal of activity and continuing demand for quality family
took advantage of the lower competition levels, with
or executive lifestyle properties. We achieved some
encouraging results.
record-breaking sales, and many properties were sold prior to auction.
As usual, during the recent school holidays, the property market experienced its annual mid-year hiatus, however,
If you are considering selling now, or in the future,
we are expecting both buyers and sellers to return with
or require professional real estate advice, please feel
new and reinvigorated interest, as traditionally, the winter
free to contact us directly. From all of us at Marshall
break is often when homeowners make big property
White, we hope you and your loved ones are
decisions, knowing that spring is just around the corner.
keeping safe and healthy. M A R K E T U P DAT E R E P O R T