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A boost in activity at the top end of the residential property market has helped Australasia’s largest real estate group Ray White achieve a 10 per cent rise in sales in New Zealand and Australia for the month of May, 2009.

Ray White Joint Chairman Brian White said Group sales for the month of May were $2.4 billion, an increase of 10 per cent on the corresponding month in 2008 and equal to the result in March this year – the best result for the Group since the economic downturn in early 2008.

“To achieve this result in May is outstanding as traditionally the best months for sales are in March and November,” Mr White said.

Ray White New Zealand CEO Carey Smith said May 09 sales saw an increase of 23 per cent over May last year.

“Confidence is obviously returning and we are seeing our main buyer activity in the middle markets with a lot more interest from investors,” Mr Smith said.

“An increase in exclusive listings of 19 per cent over the same period augurs well for sales results in coming months.”

Mr White said the results reflected a notable rise in activity at the top end of the market.

“It’s a positive sign of an improvement in the market, which up until now, has been driven by the first home buyers,” he said.

Ray White is aiming to capitalise on the strengthening residential property market by staging a series of trans-Tasman Auction Spectaculars from June 20 to July 1 across the network.

Auction events will be held in Melbourne on June 21, Brisbane on June 23 and 25, Darwin on June 24, Perth on June 28 and Adelaide on July 1. NSW will host seven auction events across the state between June 23 and 30, while three spectaculars will be staged in Auckland over June 23 to 26.

Written by Ray White New Zealand

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