Ray White New Zealand have posted sales results which were 7% lower than the same period 12 months ago. In comparison to last month, being January 2013, the results have increased by 21%.
The Auckland market held to a similar level of sales in comparison to the previous year while the other provincial markets, including Canterbury, showed a regressed result. The controlled stock levels for the company increased overall by 13% which is the largest increase that has been registered in the number of new properties coming to the market during the past 12 months. The average sale price in February increased marginally by $4,800 to $462,800 which was reflected by the majority of the markets across New Zealand. The total portfolio held by Ray White increased during February to 8392 which was an increase of 238 to the Company’s controlled listing base.
The leading offices in the network were headed up by Ray White City Apartments who completed 65 sales; the number two office for the group was Ray White Remuera who completed sales of $20.1 million; Ray White Ponsonby were the number three office with Ray White Kohimarama at number four. Ray White Richmond, at the top of the South Island, completed $9 million in sales to round out the top 5 in New Zealand. This is the first month that there has been a decrease in the sales volume in the previous 12 months. It does show a slight shift in respect of the number of properties on the market which will now provide buyers with more choice across all markets.
The Ray White Group this month have opened up 3 new offices: Port Chalmers in Dunedin, Tauranga Commercial and a new office at Tuakau.