Ray White New Zealand completed property sales in excess of $487 million in the month of July 2014. These results were 12% up on last year and in comparison to last month saw an increase of 13%.
Chief Executive, Carey Smith said that the July results rebounded strongly given that there was a school holiday period throughout the month. “There was particularly strong trading across the South Island which saw each of the markets in the Upper South, Canterbury and Lower South regions increase by more than 30%. The average sale price for Ray White edged slightly higher again to $525,000. This is an 8% increase in comparison to last year. The number of new listings secured during July decreased by 5%, with the network securing 1,180 controlled appointments for the month.”
The top five offices in the Group combined for a record July result with aggregated sales of $130 million. Ray White Remuera completed over $34 million in property sales to be the leading office in New Zealand. Ray White Ponsonby continued their strong market share across the inner west zone, with sales totalling $26 million. Ray White City Apartments were the number three office and showed a good lift in their auction results. Ray White Auckland Central Commercial produced another outstanding month with sales about $43 million. Ray White Ellerslie also showed above average sales for the month, to be in the top five offices throughout New Zealand.
The Northland zone saw a decrease in their overall sales number in comparison to last year. Ray White Whangarei was the leading office, with Ray White Kerikeri and Ray White Paihia all recording good sales for the month.
Almost three quarters of the Group’s sales came from the Auckland region. The top offices included Ray White Remuera, Ray White Ponsonby, Ray White City Apartments, Ray White Auckland Central Commercial and Ray White Ellerslie. Other offices to have a strong month included Ray White Manurewa, Ray White Glen Eden and Ray White Orewa.
The leading office in the Central North zone was Ray White Hamilton. Ray White Papamoa and Ray White Bayfair completed good levels of sales in July. The Lower North Island featured another strong sales month from Ray White Wanganui. Ray White Paraparaumu had a record sales result of over $3.6 million. Ray White Palmerston North were the number three office in the Lower North Island.
In the Upper South Island, Ray White Richmond completed over $10 million in sales. Ray White Motueka and Ray White Nelson featured with above average sales results for the month.
In Canterbury Ray White Metro were the leading zone office. Ray White Rolleston reported sales of close to $14 million in the Selwyn District. Ray White Unlimited completed $9 million of sales. Ray White Christchurch Commercial again featured with strong sales results, completing over $12 million in commercial sales.
Ray White Queenstown were the leading office in the Lower South Island with over $10 million in sales for the month. Ray White Wanaka and Ray White Dunedin also featured through strong sales results.
The Ray White Group will welcome five new offices during August. In Auckland, Ray White Mangere Bridge and Ray White Epsom. In Christchurch, Ray White Merivale and Ray White Papanui; while in the Northland region, Ray White will increase their coverage to have 14 offices with the opening of Ray White Russell.