Ray White New Zealand completed property sales of approximately $500 million in the month of April 2014. These sales results were 4% below the same period last year and in comparison to last month were 20% lower.
Chief Executive, Carey Smith, said “The month of April had seen a slowing effect due to a combination of the LVR policy, the increase in the Office Cash Interest Rate and the number of public holidays in the last week of April. These factors resulted in a lower sales volume, although prices continued to maintain at a similar level to last month with listings being down approximately 3%.”
The average sale price for Ray White remained consistent with last month, being $521,000. This is 8% higher than last year. The number of new listings during April reduced by 8% with the network securing 1,250 controlled appointments during April.
The top five offices in the Ray White New Zealand Group were led by another outstanding result from Ray White Remuera who completed approximately $40 million in sales. Business owner Megan Jaffe said the continued confidence of the local market to appoint Ray White has seen a lift in their overall market share to above 25% and this is adding momentum to their sales. Ray White City Apartments were the number two office in the Group, securing 71 released sales. Ray White Ellerslie were number three with their best month for the year. Ray White Howick had another strong result, completing $21 million worth of property sales. Ray White Mt Albert rounded out the top five offices throughout the Ray White network.
The Auckland region completed $340 million in property sales, with Ray White Remuera being the top office followed by Ray White City Apartments and Ray White Ellerslie also contributing to a strong sales month in Auckland.
During the month of April the Ray White Group welcomed new offices in Westport and One Tree Hill. During the month of May, Ray White will open a further two offices, being Te Puna in the Tauranga area and Beachlands in the East of Auckland.