November Results Surge Forward

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The November sales results for the Ray White Group are the best recorded for the past five years and it is a further increase on the record result of last month. The Group completed sales just below half a billion dollars, with six out of the seven zones recording substantive increases. Across New Zealand our results were 31% higher the same time last year and 4% higher than last month, being October 2012.

Year to date the results show that the Ray White Group is up by 44%, with auctions continuing to be a preferred method of marketing, up 40% on last year. Exclusive listings have also increased by 8%. There has also been a trend for days on market to continue to lower and across New Zealand they are now under 30 days for the first time in the past five years.

Carey Smith, Chief Executive of Ray White New Zealand, said that the November results were a combination of the continued market supply versus demand together with the confidence in low interest rates and also the growth of the Ray White offices across New Zealand. He said that the Group’s productivity has lifted to the highest level since the Group came into New Zealand in 1993, with the top five offices this month recording an average of over $20 million in turnover.

The Northland Zone showed a 51% increase on last year and that is consistent with its year to date sales results. Auckland again showed a strong lift in property sales of 48% but was slightly down on last month’s result. The Central North Island and Lower North Island were both considerably higher, with an increase of 51% and 63% respectively. The Upper South Island was the only zone to show a decrease on last year’s trading and was down by 24%. Canterbury remain consistent with last year while the Lower South Island increased by 54%.

Overall the Group has 1,301 salespeople together with 197 property managers trading through 134 offices across New Zealand.

Nine of the top 10 offices in the Group came from Auckland and included Kohimarama, Ponsonby, Half Moon Bay, Remuera, Howick, Manurewa, City Apartments, Glenfield and Central Auckland Commercial. Ray White Metro in Christchurch also featured in the top 10 offices.

The Ray White Group has increased its overall properties available to 9,910 which is an increase of 4% on the month. Auction listings continue to lift, increasing to 395 submitted in November. The average sale price is now $488,749 across New Zealand and that is an increase of $4,250 during the past month.

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