Archive for July 30th, 2010

2010 has been an inconsistent year for sales numbers in the New Zealand real estate industry. After hitting highs of over 90,000 sales per annum in 2007, sales dipped considerably to just over 55,000 in 2008.  2009 saw a recovery in part to 69,000 sales. 

During the first two months of 2010 the market showed signs it was going to continue to make up for lost ground, however this has not occurred. The second quarter of 2010 recorded one of the lowest sales months since records were taken and this was emphasised with the release of June residential sales numbers, being 4,517.  Year to date sales numbers total 29,468 which, if replicated in the second half of the year, would indicate annual sales of 58,000.  As this is similar to 2008 it may cause some changes within the industry and the way we operate.  It has long been held that the real estate industry is one that is vulnerable to market conditions, and towards the end of 2008 there were real estate offices which needed to retract and many did so and even closed their operations. 

For the Ray White Group and the way we react to these times is important.  We measure our performance on market share and this is determined by our listings and sales for each of the areas across New Zealand.  In June we produced a record result for the Auckland market with 21.7% market share being achieved by Ray White members.  Across New Zealand our market share also continues to grow, Read the rest of this entry »