PHOTO: Ray White NZ

The last three months could be best described as stop-start for the real estate market during the election period and the transition through to the announcement of the new government in October 2017. The pre-election and post-election period saw the momentum slow down in regards to sales numbers as there was uncertainty around the formation of the government, which has recently been clarified for the country to move forward with the Labour-led coalition.

When you take the November numbers in isolation there has been a strong recovery with the headline number for the Ray White Group being in excess of $750 million which was an increase of 3.3% on the same period last year and an increase on the last month’s results, being October, by 14%.  In terms of productivity, this was also reflected throughout our group, seeing a lift of 4.4% with days on market remaining constant at 36.