Auckland – May 10, 2016
One of New Zealand’s leading real estate companies, Ray White, posted a 15 percent lift in sales last month, compared with April last year.
The group also recorded an increase over last month’s sales by three percent compared with the same month last year.
The overall sales numbers for April resulted in 1478 residential property sales, which gave a total net turnover of more than $820 million. This result was a group record and individual regions also had records including Auckland and the lower South Island.
The total number of listings by the group increased by nine percent to 1643. This showed the difference between the sales numbers and the listing numbers to be just over 200, which provided the Ray White group members listing portfolios an increase for the fourth month running. The average sale price increased by one percent to $621,515.
Ray White chief executive Carey Smith says the April sales results continued to show the confidence of buyers and sellers throughout the Auckland region.
“While there are continued high volumes through the regional areas, Auckland sales for April were a group record with the sales volume in Auckland increasing by 11 percent on April 2015. This was also a lift of 12 percent from March 2016. The volume in the lower South Island also represented a group record and was 14 percent ahead of sales at the same time 12 months ago.
“The investor market continues to gain momentum with the recent reduction in the Official Cash Rate announced in March. The rental market remains in strong demand and is allowing investors to re-enter the market with confidence.
“The strength of the Auckland market continues to allow sellers who are re-buying options across other areas in New Zealand. That is assisting property sales across New Zealand, with a type of halo effect which is allowing sellers in the Auckland region to become buyers in other areas and potentially gain more equity in their re-purchase.
“The top three Ray White businesses in New Zealand were Ray White Remuera, who completed $51 million in sales; Ray White City Apartments, who sold 97 properties for the month of April and Ray White Ponsonby, who concluded a high volume of auction sales with a total trading of $45 million. In addition to this the April results saw eight offices achieving personal best results. They are Ray White Whangarei, Ray White Birkenhead, Ray White Broadway, Ray White Ellerslie, Ray White Howick, Ray White Manly, Ray White Mission Bay, Ray White Rotorua, Ray White Timaru, Ray White Te Anau.
“Throughout the regional areas in New Zealand; in Northland Ray White Whangarei featured as the top office and also completed a personal best sales month. The Auckland region saw Ray White Remuera, Ray White City Apartments and Ray White Ponsonby all complete outstanding months. Other offices in the top 10 to complete personal best results included Ray White Ellerslie, Ray White Howick, Ray White Broadway and Ray White Mission Bay.
“The central North Island has many areas that continue to show strength in sales numbers. Ray White Hamilton were number one while Ray White Te Awamutu completed outstanding sales to be the second office in this region. Ray White Rotorua was acknowledged for a personal best result.
“The lower North Island saw strong sales by Ray White Lower Hutt and Ray White Wanganui. The Upper South Island continues to show good market strength, with Ray White Richmond and Ray White Golden Bay achieving good sales numbers. The Canterbury market continues to respond to high volumes, with Ray White Metro, Ray White Full Circle and Ray White Rolleston leading the area for sales volume. The lower South Island region achieved an area record for sales volume and this was headed up by Ray White Invercargill, Ray White Arrowtown and Ray White Dunedin. The top commercial office for Ray White New Zealand was Ray White Tauranga Commercial,” Smith says.
For further information contact Ray White chief executive Carey Smith on 021 999035 or Make Lemonade media specialist Kip Brook on 0275 030188.