30% of franchise’s offices enjoy record August

Barry Plant has capitalised on low interest rates and a shortage of stock to post double-digit growth in sales numbers and volumes.

The franchise reported that its 80 offices sold 1,012 properties in August – an average of 12.7 sales per office.

The group’s sales numbers were 21 per cent higher than the year before, while the value of those sales jumped by 34 per cent.

The average sale price also recorded double-digit growth, increasing 12.5 per cent to $595,000.

Barry Plant also reported that 24 of its offices, or 30 per cent, celebrated record August results.

Chief executive Mike McCarthy said sales growth is showing no signs of levelling off, claiming it appears to be gaining momentum.

“We saw a strong start to the new financial year in July, and August was even stronger. Growth continues unabated, particularly in the middle to outer suburbs,” he said.

“Growth is being driven by a number of factors – continued low interest rates, combined with a shortage of supply over the winter months and ongoing interest from overseas investors.”

Barry Plant said its spring selling is off to a promising start, reporting strong activity in all areas and price ranges.

[Related: Barry Plant reports record annual sales]

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