The public, in particular those burdened with negative equity on their residential properties, could at last utter a sigh of relief when the latest land auction results were announced on 29 August. With prices set for the two auctioned sites at the upper end of market expectations, it certainly looks like the mass residential market has finally found a floor under its feet.
The mass residential sector seems to have followed a 'last in, last out' rule and is now in the spotlight following these sectors IO, godown, Grade A office and luxury residential, which have, one after the other, all come out of the doldrums since the 1997 financial crisis.
The bid...
