Properties in the $1.3 million plus bracket are improving

For regular readers of my blog you might recall just over a month ago I said it was my belief that the market for properties in the $1.3 million plus bracket was starting to improve. Well I’m very pleased to be able to report that it appears I was right.

I’ll admit at the start of last week I was starting to think I’d called it incorrectly but by the end of the week the team at Morton & Morton had successfully negotiated the sale of several properties in excess of $2 million. 

Don't get me wrong, they were hard fought deals, the buyers were cautious and a couple of sales don't exactly reflect a boom.  But despite the economic doom reported in the media over recent weeks, interest rate rises and the strong Aussie dollar the fact is the properties were sold and at healthy prices.

It gives me renewed confidence that the market for properties priced above $2 million is starting to improve after a very tough year.  This late Spring surge makes me think it will be busy right up until Christmas rather than the traditional slowdown starting early December.

And already we have a healthy pipeline of properties that will come onto the market in 2011.  All of which is exciting stuff.