Ray White has recorded its best sales result in New Zealand since March 2007.
October figures revealed the Ray White Group booked a 29 per cent rise in sales when compared to the same month last year, matching the sales turnover highs of March 2007, coming in at NZ$500 million.
According to Ray White, the network of 135 offices finalised 1,216 sales, 21 per cent more than the previous month, the greatest amount of transactions since November 2007.
The Auckland market, in particular, has shown a considerable increase with double the sales recorded in 2012 against the same period in 2011.
Carey Smith, chief executive of Ray White New Zealand, said the 2012 sales have continued steadily, with turnover increasing by 41 per cent nationally year to date.
“This is driven by a combination of factors including the continued migration of those affected by the Canterbury [Christchurch] earthquake relocating throughout New Zealand and record low interest rates which have been consistent for over 12 months and gives buyers confidence.
“Added to this, banks are also taking a balanced approach to the way they consider funding property and this also allows buyers to purchase property.”
Ray White said the national average sale price at the end of October 2012 for its network was NZ$452,592. This is up on September 2012 at NZ$445,326, and also higher than October 2011 when the sales price was NZ$440,918.