PHOTO: Ray White
The Ray White New Zealand group results for October 2019 saw an increase in sales value in comparison to 12 months ago. Sales numbers show an increase, as well as the median sales price, increasing over the last quarter by .75% to approximately $682,427. Overall the sales numbers resulted in 1,375 residential property sales, which gave a total net released turnover of $907 million. The total number of controlled listings secured decreased by 13% to 1,406. The difference between the sales numbers and the listing numbers shows that the group portfolio increased by 2% during the past quarter. In comparison to October 2018 sales, the volume increase for sales value was 7%.
Carey Smith, Chief Executive of Ray White New Zealand, said “The October results showed a continual increase through the Auckland and Wellington regions. This was matched by continuing high volumes throughout the main regional areas. The first home buyer and investor market continue to gain momentum, with a further decrease in the OCR to 1%, which has allowed better affordability and assisted investors and first home buyers coming into the market.”
The top three businesses were Ray White Remuera who completed a sales month of $72 million; Ray White Ponsonby who completed $44.8 million in volume of sales for October; and Ray White Manukau who also completed a highly successful trading month closing at $31.2 million in settled transactions.
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