Paul Wrigley from Ray White Real Estate Toronto  brings you this latest market update from Ray White on what happened to the markets in August.
Ray White Real Estate Toronto had an awesome month in sales achieving 2 sales above asking price and 3 full price sales amongst many other good results.

What Happened to the Markets in August?

For those of us in real estate, the best time of the year starts with each and every Spring. Better than the Christmas Season! New listings! Resurgent buyer interest! Confidence building.

For those of us in real estate, the best time of the year starts with each and every Spring.  Better than the Christmas Season!  New listings! Resurgent buyer interest! Confidence building.

It was already happening as August came to an end. With another $2.4 billion Group month to complete the winter of 2012, it’s useful to recall that it was, overall, a pretty satisfactory winter for residential real estate. With the much publicised predictions of imminent market collapse just not happening.

All Australian and New Zealand markets were active – New Zealand now with more than 6 straight months of its resurgence. The usual winter tightness of listings preventing even better figures.

Our Loan Market Group exceeded $800 million in settlements for the first time.

When International markets are discussed, it is invariably about Europe and the USA. Nothing about the remarkably strong markets immediately to the North of us. “Not relevant” one might hear you say? But that strength, which is creating great new depth to their middle classes, is already positively impacting on our markets.

The next market recovery will take a different shape. A greater integration with Asian property will deepen buyer strength. It will benefit the wealth of our communities.

During the month, more evidence of “meddling” by Governments (Qld being the latest) in their efforts to assist First Home Buyers. Removing the bonus to buyers overall, but increasing it to purchasers providing it is new construction, has now turned from helping new owners to helping to the building industry. To force new buyers to the new product flies against the wishes and proven preferences of new home buyers, is placing their interests second. It should be renamed “Builders’ Grant”.

Some remarkable properties are set to be marketed by the Group. One of the finest is the remarkable Rae’s Resort incredibly located on world famous Watego’s Beach at Byron Bay – more action from Ray White Hotels, listed by Greg Bell. Another is an appointment which will integrate our Marine, Hotel and Project Marketing teams in a project with marinas, a hotel component and beautiful land for residences is set to commence.

Increasingly, the breadth of the Group is creating fabulous new opportunities to provide value to our clients.

During August, Dan White attended the marketing launch of the new Sugar Tree Project in Auckland, it is stage 1 of a total project of approximately 500 units.  Reflecting the buoyant confidence for Central Auckland property, this is one of the largest of the new cycle of property development caused by activity already referred to. Virgil Roberts from Ray White Projects  is the agent.

It is the intention of the Ray White Group to capitalise on the trends happening in Asia. Already, the major network in Indonesia, we are building depth in our other Asian locations to bring greater buyer depth to our vendors. It is one of the most exciting new eras in our Group’s history.

It is always gratifying when members of our Corporate teams decide to open their own Ray White offices – the best proof that they believe in their skills and in the future of this industry for business ownership. Andrew Freeman in Melbourne is the most recent of these.

Preparations for this year’s Crows Nest Conference for the Group’s corporate teams is advanced. It will mark the tenth year after our Centenary Conference. As we did then, we will again have a Group Family Day at the original shed in the tiny village of Crows Nest – west of Brisbane. It will enable to, once again, reaffirm our values that have driven this family Company for so many years.

Written by Brian White

As you can see there are plenty of positive things happening in Real Estate everywhere and especially in Real Estate Toronto. As a result of the large number of sales we have been making at Ray White Real Estate Toronto we need more houses to sell in Toronto, Rathmines, Wangi and basically all areas of Lake Macquarie. If you are thinking of selling now is a great time so please call Ray White Real Estate Toronto on 02 4959 6577

Yours Sincerely