Archive for August, 2011
Bruce Whillans, owner of Ray White Auckland Commercial, has produced The Whillans Report which is a commercial Auckland market update for the second quarter of 2011. Having completed their first year of business this month as Ray White Auckland Commercial, the Whillans Realty Group is celebrating sales in excess of $145 million for the year.
Bruce Whillans said the sales were a direct reflection of his staffs’ dedication to high quality service and also the return to confidence of the market. He went on to say by leveraging their existing client base and applying the principles of quality service, their team had produced results comparable to many of the bigger agencies. “In a recent report published by the Sunday Star Times on 10th July we sit only second to Colliers in profitability for the year.”
The Whillans Report looks at sales which have occurred during the past 12 months for the Ray White Auckland Commercial team including the Albany Home Centre, Soho Square and the Penrose Industrial Estate. The report contains information on the commercial CBD market, industrial summary and prime retail market. It also looks at the return of Australian investors back into the Auckland market and the successful sale by tender of Soho Square.
Last Friday the Ray White office in Wakefield Avenue, Sumner finally succumbed to the throes of the demolition digger. The most recent earthquake of June 13th was the final straw for the ex-Ray White building which was deemed to be beyond repair. The demolition took place in front of a small crowd who watched the building come down and like many areas in the city; a small piece of history was lost with now only a gap appearing on the landscape.
10 Wakefield Avenue in Sumner had been a real estate office for approximately 50 years; firstly under the banner of Sumner Properties Limited and from the early 70s as a branch of Kent Prier Real Estate Limited. It was one of the first in the Kent Prier Group to be a branch based outside of the central business area. Early records show the building was constructed in 1926 as an old grocery store and an original part of the building constructed in 1906 was a small cordial factory. Many locals will have fond memories of the Forget-Me-Not Restaurant which was one of the first cafe style restaurants in the area.
Current co-owner of Ray White in the Eastern Suburbs, Rae Manson, commenced her real estate career at the Wakefield Avenue office in 1985 and has spent more time than any other person associated with the business in the Sumner office. Rae became a business owner with Ray White in 1999 and two years later was joined in the business by Craig Prier in forming Prier Manson Real Estate Limited. More than just the loss of premises is the loss of a business which was part of the community. Ray White Sumner has relocated to another of the Prier Manson offices situated at Opawa.
Although much of the area has been decimated there is an exciting future for the Sumner area, with urban design groups having various meetings looking at the overall concept of the area. We have high hopes that 10 Wakefield Avenue will be part of that future and hopefully able to house another leading Ray White office.
Prier Manson Real Estate Limited is the market leaders throughout the Eastern Suburbs with a market share just on 55%. They also conduct property management and provide financial solutions through their association with The Loan Market. Their office continues to service the Sumner area and community; a recent example of this being holding a seminar entitled “Is My Property Saleable?”
For up to date information on listings, both for sale and for rent, throughout the Eastern Suburbs please see their website.
Hewson Real Estate began trading in the Kerikeri area in the early 1950s. Originally established by Mr G B (Don) Hewson, the office won international recognition for specialising in coastal and island property. Ian Knox, the current owner of Hewson Real Estate Limited, became a partner in the business in the late 1970s and took full ownership of the business after that time. Ian conducted the first million dollar sale in the Kerikeri region and has always had a significant proportion of those property sales ever since.
In re-committing to the Ray White Group, Ian Knox said the high profile, coverage and exposure of the Ray White network with over 1,000 offices operating throughout the world was unmatched by any other group. “It allows our properties to be professionally marketed to a broad database and that has helped us maintain a long established successful business in our region.”
Carey Smith, Chief Executive of Ray White New Zealand, said that Ian Knox has developed a first class reputation with his offices in Kerikeri and Paihia. “The businesses have always had a leadership position in the coastal, lifestyle and rural markets and having the offices as part of our strong Northland region has helped us maintain a high market share throughout the area.”
Along with the main office at Kerikeri, Hewson Real Estate Limited has a branch office at Paihia. Sales Manager Ross Roberston has been with the office since its inception in 1996 and has consistently achieved Premier status during that time. Ross said one of the benefits Ray White offers his branch is the recognition from buyers who come into Paihia. “Our office is high profile and well positioned and having Ray White as our agency name assists in the profile of our business. Ray White has also been at the forefront with their online marketing and in an area such as the Bay of Islands, this is becoming increasingly important for our vendors.”
Hewson Real Estate Limited has re-committed to Ray White for an extended term. This will take the office beyond 20 years with the Ray White Group. The business is one of the offices to first join the company under the ownership of Ray White.
Ray White New Zealand is pleased to announce their Franchise Owners Symposium this year will be held in Queenstown on 7th and 8th September 2011. The Ray White Group has continued to see extraordinary growth during the past 12 months, with 18 new offices joining and this has set another new record for growth in office numbers.
Carey Smith, Chief Executive of Ray White NZ said said “the objective of the Franchise Owners Symposium is to look at the Group’s strategy as if we were in 2016. Our strategy is centred on a series of questions that will invite in-depth discussion on the core values of the Group which in turn will allow the strategy to be formalised and give guiding principles for the Group over the next five years.”
The Symposium will also provide a message of opportunity, with business leaders John Wall from Talent 2 together with Steven D’Souza from Kalamazoo providing keynote addresses on their personal businesses and how they have moved to market leadership in their respective fields.
The Ray White Group has 133 franchise offices and is seen to be one of the market leaders in New Zealand. The Group facilitates 21,000 property appointments per annum and is the leader in the field of property management; looking after 14,600 properties for landlords. The Group also has a highly successful commercial and rural operation, while offering financial solutions through leading facilitator The Loan Market..
The July 2011 results for the Ray White Group reflected an increase in trading over the similar period last year; however was slightly down on the results from last month. The Group’s controlled listings were down almost 25% which is reflective of the shorter days on market and prices holding throughout the majority of New Zealand.
The top office for the month was Ray White Auckland Central Commercial, completing sales in excess of $16 million. The Ray White Remuera office was number two. Ray White Metro in Christchurch completed sales of $8.5 million, while Ray White Ponsonby and Ray White City Apartments also had a strong month with sales over $8 million.
Carey Smith, Chief Executive of Ray White said that the results reflected the lack of new listings which are being presented to the market. “When you look closer at the numbers, Auckland continues to show increases on last year’s turnover however there are far less properties being listed for sale. This will inevitably put pressure on prices and will also provide more buyer competition for each property actively marketed. Also of interest is the Canterbury market where sales were at the same level as the same time last year. There are a lot less properties coming to the market in this area but the take up of stock and the reduction in the total properties available has been considerable. Across New Zealand our results were similar to that of 2010 and while listing stock remains the driver to many key indicators, there are certainly a good number of properties turning over in the current market. The other variables that we see going forward include the upcoming interest rate announcement in September and the activity that will result from the Rugby World Cup.”
The Ray White Group has offices across the country and lists on average 21,000 properties per annum. The Group is also the leading facilitator of property management in New Zealand with 14,600 properties managed for landlords.