The Ray White Group has recorded the best January sales results since 2007 with market sales just in excess of $300 million. In comparison to January 2012, sales increased by 48% nationally and the number of sales increased by 45%.
The sales results by area show Auckland had the greatest increase in value turnover, lifting by 81%. This was led by Ray White City Apartments who completed 51 sales. Ray White Remuera was the number two office in the group with $14 million in sales value; while Ray White Pinehill on the North Shore completed over $10 million in value of sales. The Canterbury region also showed a lift of 17%, with the top office in this region being Ray White Rolleston who had a record sales month for January completing $10 million. Ray White Full Circle and Ray White Metro also had a strong month. In the Upper South Island sales completed for January were up by 16% with Ray White Richmond completing over $8 million in property sales. The Northland market was led by Ray White Whangarei with 27 sales. The Central North Island, which was consistent to the same time last year, with good results coming from Ray White Hamilton with $6 million in turnover and Ray White Papamoa on the Bay of Plenty Coast also completed a successful month. The Lower North Island saw a standout performance from Ray White Wanganui with 19 sales. Sales in the Lower South Island were slightly lower than this time last year, with Ray White Arrowtown being the leading office in this area.
Controlled listing stock continues to remain at consistent levels; however with the continuing high volume of sales, days on market are reducing and across the country is now an average of 28 days.
With the Reserve Bank Governor announcing interest rates would remain on hold at 2.5% it is expected that the confidence in the real estate market will continue. Provided there is supply, prices in main areas, including Auckland and Christchurch, will increase with auctions being the preferred method of marketing.