Ray White October Sales Surge – Up By 19%

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Arrow LevelThe Ray White Group in New Zealand is pleased to report that sales for the month of October 2013 increased by 18% in comparison to October 2012.  The completed sales numbers saw the company in total transact over $500 million in released sales at an average sale price of $489,233 with  1303 numbers of sales (including conjunction sales).

The Auckland market lifted considerably in volume to see a 15% increase to $345 million in sales, with the top three offices reporting record sales. The Northland region also showed an increase of 12%, with Ray White Whangarei reporting a personal best result of over $10 million in sales.  The Central and Lower North Island remained consistent, while the Upper South Island and Christchurch showed sales increases of 15%, with the Lower South Island increasing total turnover by 16%.

The top five offices across the country was led by Ray White Remuera who completed $27 million in sales and were appointed to 25 auctions and a total of 45 controlled listings during the month.  Ray White City Apartments, who were appointed to 66 new listings for October, completed 80 released sales. Ray White Ponsonby had another outstanding month with just on $22 million in sales. Both Ray White Howick and Ray White Royal Oak completed an excellent month with sales close to $20 million in total turnover.

The Lower South Island saw Ray White Dunedin complete over $9 million to lead the zone. Ray White Wanaka and Ray White Invercargill together with Ray White Oamaru had very good sales months. The Christchurch area saw Ray White Metro as the number one sales office in the zone. Ray White Rolleston completed $17.5 million in property sales, with Ray White Ashburton recording a personal best result of $6.2 million. The Upper South Island saw Ray White Richmond completing $9.5 million in property sales. Ray White Nelson and Ray White Greymouth also had a good sales month.

In the Lower North Island, Ray White Wanganui was the leading Ray White business, with Ray White Palmerston North and Ray White Lower Hutt both making sales of $4.5 million. Ray White Hamilton, who featured in the top 10 Ray White offices, completed $11 million in sales. Ray White Papamoa, Ray White Rotorua and Ray White Te Awamutu all sold above $5 million in released sales.

The Auckland market, outside of the top five national offices, saw good results achieved by Ray White Kohimarama, Ray White Mt Albert, Ray White Broadway and Ray White Manurewa.

The Northland market saw the Ray White Whangarei office feature in the top 10 with $10.7 million in sales. The Ray White Mangawhai and Ray White Paihia offices both registered $2.5 million in property sales.

Ray White Auckland Commercial was the leading sales office for commercial property, with $11.5 million in commercial sales.

The total listings available through Ray White at the end of October were made up of 6,992 residential properties, just over 1,500 commercial properties, with rural and lifestyle listings being 1,150. In total, the Group has just under 9,700 properties available. The group recorded a significant rise in new property appointments for October. The total unconditional sales through the 135 Ray White offices was 1,303 with an average sale price of $489,233, which was an increase of 3% on last month’s sale price and an 8% lift on the average sale price 12 months ago. The average days on market calculated during the month of October based on the unconditional sales date was 39 and that included all property sales. The average days on market for the Auckland area totalled 29. Both calculations for days on market have reduced by two days.

The overall observations from the property sales in October saw an increase in sales occur between $450,000 and $850,000. This gave an effect of property sales being more geographically spread across New Zealand and this was also the case in Canterbury and Auckland. The South West corridor of Canterbury saw a notable increase in property sales, while the South Eastern corridor in Auckland was where there was an increase in property sales activity.

Ray White conducts property sales through 135 locally based community offices, with 125 offices providing full property agency services, with ten offices offering specific services relating to property management or commercial property.

During October the group welcomed 2 additional offices in Auckland being Kelston and Millwater.

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