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Ray White Group has revealed it recorded $8.74 billion in transaction values over the month of March — a whopping 30 per cent more than the brand’s previous best.
The $8.74 billion figure soars above the previous record-breaking $5.71 billion transaction figure reported in November 2020.
Ray White managing director Dan White said the result was also up by “a staggering 92 per cent year-on-year”.
He’s expressed extreme pride in the network’s ability to service more than 19,000 families and businesses across Australia and New Zealand across the month.
“This was a result driven by more and more vendors seeking to take advantage of a strong market, coupled with the high speed and conviction in the decision-making of buyers,” Mr White said.
Mr White called it “the most powerful of combinations”.
Ray White Australia said the result was bolstered by enormous buyer demand and “off-the-chart auction metrics”.
Ray White Australia scheduled 18.5 per cent more auctions in March 2021 than it had in March 2020.
A total of 2,308 properties were taken under the hammer, with six people registered for each auction, on average.
It’s up by 2.5 people per auction compared with 2020 figures.
The network noted auction clearance rates as also improving on last year’s figures: 75.4 per cent of auctions found buyers on the day in March alone.
Alongside the results, Ray White Group rebutted a multitude of market suggestions that there’s a shortage of property listings coming to market.
Arguing that there is no shortage of new listings, it reported that, “in fact, there is more new stock coming to market now than there has been for many years”.
The network highlighted it had brought 10,760 new listings to the Australian and New Zealand real estate markets in March 2021 alone.
The figure represents a 10 per cent increase on listings from November 2020.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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