Archive for December 1st, 2010

November Results Show Small Increase

The Ray White Group saw a slight rebound for property sales during November 2010.  While sales turnover was 23% down on November 2009, there was an increase of 9% on last month’s trading.  The controlled listings, which includes auction and exclusive listings, were up 22% on last month and showed an increase of 11% on November 2009 which has allowed buyers to have a broader selection of property available.  The total listings secured by the Ray White Group were just over 1,500.

The number one office for November 2010 was Ponsonby with an average sale price of just over $950,000.  The office completed 14 transactions with a total value of $13.5 million.  The number two office was Kohimarama completing just over $11 million.  The Remuera office listed 18 properties and traded $10.4 million.  The Howick office in East Auckland completed $9 million to be the number four office in the Group.  Mt Albert in the inner west of Auckland completed $8.3 million and had a strong listing month with 29 properties secured.

In the Northland zone, their trading was down by 32%.  The top office in this region was Whangarei, followed by Kaitaia and Paihia.

In Auckland controlled listings increased; turnover was down on the same period last year by 24%.  The top three offices were Ponsonby, Kohimarama and Remuera.

The Central North Island was one of the areas to maintain a consistent sale rate of property in comparison to last year.  Hamilton City was the leading office in this zone. Papamoa and Whangamata were the next best offices.  Palmerston North was the leading business in the Lower North Island.  Otaki and Taranaki both recorded above average sales. The overall turnover in this region was down 31%.

The Upper South Island where Ray White holds a market share in excess of 30% saw Stoke, Richmond and Mapua all have successful trading months.  Turnover was down by only 2% on the strength of increased listings.

In Canterbury, Christchurch Commercial completed $6 million in sales.  Rolleston and Redcliffs had good months in a market that is slowly recovering after the recent earthquake

The Lower South Island saw Arrowtown, Dunedin and Invercargill all complete sales in excess of $2.5 million each.

The Ray White Group completed 951 sales across New Zealand with an average sale price of $387,000, which was 1.3% lower than last month. In comparison to November 2009 the average sale price has increased by 2.8%.

This month the group will open 3 new sales office in Auckland being Waiheke Island, Stonefields and Kumeu.

In the property management division there were 359 properties that were let during the month of November which was an increase of 14% on October 2010 and an increase of 7.4% on November 2009.  The average medium asking price for rental properties was $340 per week which is an increase of 6.3% on the same period last year.

Marketing Success

Ray White City Apartments are considered the leaders in apartment selling through the Auckland CBD area.  As part of their sales strategy they have a high success with auction marketing and this is shown in their recent clearance figures, which have been in excess of 70% during the past quarter.

Damien Piggin and Daniel Horrobin, who work together as a partnership, have shown how the combination of marketing and auctions come together in subdued market conditions to give vendors, in most cases, a better than expected sales result.

Co-business owner Phil Horrobin said “The concept of marketing auctions does require a balance of print media and online marketing and this in many cases requires the vendors to consider a programme which will allow their property to be seen across a broad audience. The City apartment market is consistently active with buyers; however given the amount of stock that is available we request vendors consider taking their property to the next level of marketing with our company, who have a proven success rate with auction marketing.”  He went on to say “This is proven with two of their Elite salespeople Damien Piggin and Daniel Horrobin, who work in a very successful partnership, and have consistently shown the value of marketing through their high success rates.”

Ray White City Apartments have the highest level of marketing each weekend in the New Zealand Herald and also dominate the Trade Me feature market to ensure vendors not only get the best value from their marketing but also have a broad range offering in the online and print media areas.

Papakura Office extend Agreement

The Ray White Group is pleased to acknowledge the renewal of the franchise agreement with Ted Ingram, the owner of Ray White Papakura.  The office first became a member of Ray White through the transition period of United Realty to Ray White in 1997. The business grew market share steadily and in November 2005 Ted Ingram, who was a member of the Harcourts Group, purchased the office and since that time the market share has grown consistently.

Ted Ingram

In re-committing to the Ray White Group, Ted Ingram said that his business being partnered with Ray White is a natural choice. He said “The focus on auctions, technology and growth is a continued part of our business model and with Ray White leading the field in these areas, our business remains strong.  The other area that we are developing is our property management and we wish to continue to grow this during 2011.”  Carey Smith, Chief Executive for the Group, made comment that “The Papakura office is one of our best in the country and is well led by business owner Ted Ingram.”  He went on to say that the growth plans Ted has for the office will see the business continue to be the market leader in the area.

The Papakura office has approximately 20 on staff, including sales, property management and administration.  Please see the website for the Ray White Papakura team.

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