Ray White September sales surge 83.4%

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Ray White New Zealand has recorded its third back-to-back record month of residential sales across the country, completing 1,809 sales for a total transaction value of $1.336 billion in property sales. 

The month saw sales increase by 83.4 per cent when compared to the same period 12 months ago, and is a further 12 per cent increase on the previous month of August 2020.

In the area of property listings, there were 2,120 properties put to market by Ray White New Zealand, which is 24.1 per cent up on the same period last year and almost 19 per cent up on August 2020.

In comparison to the same time last year across the regions, the group had an increase of 34 per cent in Northland. The Auckland market for Ray White saw another significant month – 128 per cent ahead of 12 months ago. 

The central North Island which includes the areas of the Waikato and Bay of Plenty increased by 48 per cent, while the Lower North Island across Hawke’s Bay through to the Wellington region also saw a continuing increase, up 112 per cent. 

In the South Island, the Nelson Tasman region slowed down from its heights of last month to see three per cent fewer sales, while in Canterbury, the surge continued with a 77 per cent sales increase on the same time last year.

The Lower South Island saw a more modest increase of 14 per cent. 

Listed prices saw modest gains across most of the regions with the largest being in the Tauranga region which saw a rise of 6.9 per cent.

While Gisborne, Manawatu (4.1 per cent), Whanganui (3.6 per cent), Taranaki (1.9 per cent), Central North Island (1.8 per cent), Coromandel (1.5 per cent), and Auckland (1.4 per cent) also saw rises in each of these markets. 

While property listings increased in 14 of the 17 areas measured by Ray White New Zealand, the overall inventory continues to be lower given the supply of new listings is not keeping up with the demand from the market in regard to sales.

Ray White New Zealand Chief Executive Carey Smith (pictured above) said the dynamic in the marketplace continued to see a lift in first home buyers and investors who ordinarily do not have a property to sell. 

“The low interest rates, together with home loan affordability continues to give buyers the confidence to purchase in a market where there’s a good supply, but with prices continuing to move up,” Mr Smith said.

“The most favoured form of marketing is through auction, with sellers achieving strong market prices.

“Ray White saw 17 offices achieve their personal best results including internationally number one ranked company Ray White Remuera selling $121 million worth of property. 

“Ray White Manukau was number two, also achieving a personal best result, selling 101 properties. 

“Ray White Epsom completed another outstanding month with $49 million worth of real estate sales, while Ray White Wellington City recorded another personal best result with $41 million worth of sales.

Ray White Parnell also achieved a record result, selling just under $40 million worth of property. 

“In the regions, the top offices included Ray White Whangarei in Northland selling over $20 million worth of property. Ray White Rotorua sold $21 million worth of homes and Ray White Hutt City in the lower North Island completed $22 million worth of sales. 

“Ray White Richmond was the top office in the upper South Island, while Ray White Rolleston led the Canterbury region with $22 million worth of sales. Ray White Wanaka featured as the top business in the Lower South Island.

“For weekly real-time market updates, data and insights, members and clients can view and download our innovative Ray White Now report.”