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Marshall White capped off a milestone October with a strong showing on the final Saturday where it reported record transactions and a robust auction clearance rate.
Marshall White has reported a record October sales result, selling 260 properties over the month to generate more than $770 million.
This increased activity came to a head on the “Super Saturday” of 26 October 2024, where the brand’s 73 properties brought to auction notched up a success rate of 80 per cent, exceeding the day’s average clearance rate in Victoria of 67 per cent.
Through this result, the brand noted that it has transacted nearly $5 billion in real estate sales over the year to date, marking a 10 per cent increase on sales in the same period of time across 2023.
Strong demand in Melbourne’s luxury market saw Marshall White sell 23 properties in the $5–10 million range, along with two sales exceeding $15 million, which the brand highlighted as evidence of the continuing “strength of the luxury segment”.
The network’s property leasing portfolio also saw strong activity, with the 104 properties leased in October spending an average of only 17.4 days on the market and just 11 days of vacancy.
Marshall White attributed this surge of activity partially to the effects of the “Super October” selling period, noting that the month “bridges the post-school holiday rush and the lead-up to Christmas” and offers an optimal window for those looking to sell.
In addition to this ideal selling period, Marshall White also highlighted that the currently stable economic outlook and increasing buyer confidence in Melbourne further contributed to the brand’s October sales record.
This renewed buyer sentiment was clearly reflected in Marshall White’s recent sales activities, with the network noting that buyer demand was persistently strong in October, and enhanced by “multiple interested buyers prior to auction and bidders on the day”.
Commenting on the brand’s recent sales successes, group sales director at Marshall White, John Bongiorno, highlighted the brand’s “incredibly high success rate at auction” throughout 2024, which he credited to the “level of commitment and expertise we have across the Marshall White team”.
Heading into November with a similar number of properties listed for sale, the network shared that it expects demand to continue across their property portfolio through to the end of the spring selling season.
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