Ray White NZ records best month since 2007

Ray White NZ records best month since 2007

02 November 2012 by Staff Reporter 0 comments

Staff Reporter

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.

Staff Reporter

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.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
REVEALED: The 10 best agents in Australia for 2017

For the first time ever, the top 10 agents in the REB Top 100 Agents ranking are revealed in this exclusive podcast. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
Do you have an industry update?