Ray White New Zealand achieved property sales just in excess of $300 million in the month of January 2014. These sales results were 2% ahead of January 2013. In comparison to last month’s sales they were 50% less.
Carey Smith, Chief Executive of Ray White New Zealand, said “The continuation of property sales for the month of January was seen to be consistent given that it was a short month property sales were similar to that this time last year and for many offices, particularly in the Christchurch region, this meant a good start to the sales year. The recent announcement by the Reserve Bank in regards to changes in interest rates due next month could be one of the reasons why there was a considerable lift in property listings during January. It is perceived that while the interest rates may increase, there is still consistent price increases and sellers remain confident of achieving premium results.”
The average selling price for Ray White during January rose by 4% to $521,000 and this was 7% higher than the same time last year. The number of new listings, for the first time in three months, increased by more than 5% with the company securing over 800 controlled appointments during January.
The top five offices in the Group were led by Ray White City Apartments, who completed a record January sales month with $25.5 million. Ray White Metro were the leading Christchurch office with over $11 million in sales. Ray White Unlimited, Ray White Dunedin and Ray White Rolleston all had strong increases on last year’s results to each report record months for January.
In the Northland zone, Ray White Whangarei had a highly successful sales month. Also Ray White Mangawhai and Ray White Mangonui recorded good growth in sales.
The Auckland region completed just over half the Ray White Group sales, with Ray White City Apartments being the number one office throughout Auckland. Ray White Te Atatu completed strong sales to be number two, with the Ray White Broadway office being the number three business in the region.
The Central North Island saw Ray White Hamilton, Ray White Papamoa and Ray White Tauranga secure above average released sales for January.
The Lower North Island was led by Ray White Wanganui, with Ray White Palmerston North also registering good sales.
The Upper South Island saw Ray White Richmond complete $6 million in sales.
The top three offices in Canterbury featured in the top national offices, being Ray White Metro, Ray White Unlimited and Ray White Rolleston.
The Lower South Island saw Ray White Dunedin, Ray White Queenstown and Ray White Wanaka all completing above average months.
In 2013 the Ray White Group completed its most successful year in property sales totalling $6.911 billion and over 15,300 property sales through the 135 office network.