News & Insights
October 2023 stands as a monumental month for Marshall White clients and their properties. As we move beyond the challenges of COVID-19, the property market, particularly in the luxury segment, is showing strong signs of recovery and even growth with unprecedented results delivered across blue chip areas. A standout example was a property at 3 Chrystobel Crescent, Hawthorn, setting a new sales benchmark at auction, and turning heads across the real estate community.
Auction numbers this October are set to skyrocket compared to the previous year. Notably, the second week of October is projected to see an incredible 650% increase from 2022. And the momentum starts strong right from the first week, anticipated to surge by 475%. This marks a clear shift towards the pre-COVID vibrancy of the market.
Expressions Of Interest are not left behind, with predictions showing a significant increase from last year. Specifically, on ‘Super Saturday’ (October 21st), Marshall White aims to transact properties valued at a staggering $145 million. Among them is a standout property in Brighton, with a price tag of $14.95 million. The pace continues to the weekend of October 28th, where Marshall White’s portfolio could reach $250 million, including a noteworthy property priced between $10-11 million.
For October 21st, the listings are up by 30% compared to last year. In addition, Expressions of Interest closing around this peak period are also expected to jump by nearly 80%.
Several factors contribute to this prime real estate moment. Sellers are capitalising on the period, drawing renewed interest from international buyers re-entering the market alongside expats leveraging the weaker Australian dollar, while traditional buyers have adjusted to the stable interest rates after recent hikes.
Super October promises to be a milestone month for Marshall White properties. Given these indicators, it’s clear: the real estate market isn’t just bouncing back; it’s flourishing.
Expressions of Interest close 31st October.
Price range – $18m-19.5m
Set within the prestigious Sackville Ward, this rare and luxurious c1920 gem sprawls over a 2,430sqm (approx.) plot and includes two pools, tennis court, underground basketball court and gym.
Expressions of Interest close 26th October.
Price range – $4.6-5m.
This tri-level corner apartment offers rooftop city skyline views, abundant natural light, spacious bedrooms, study rooms, three parking spots and on-site caretaking.
Price – $2.95m
Designed by renowned architect, Sir Roy Grounds in 1958, this modernist masterpiece details year-round northern light and a spacious terrace via French doors.
Expressions of Interest close 24th October.
Price range – $9.6m-10.5m
This exclusive three-level architectural residence offers a new benchmark in luxury living with light-filled living spaces, a 10-car basement garage, gym, wine cellar, and lift.