The Ray White Group results for December 2015 saw the highest sales for a month in December and 4th highest sales month of 2015. The sales results were 14% ahead of the same period last year and 17% ahead of November 2015. The combined sales results saw members complete 1,207 transactions at an average sale price of $580,732, which gave a net released total turnover volume of just over $700 million. The number of listings secured decreased by 3.9% to 1,077. This in turn reduced the overall listing portfolio of the group by 2%, which was consistent with December 2014.
Carey Smith, Chief Executive of Ray White New Zealand, said “The dynamics of the December results show a slight change back toward the sellers. This was aided by the reduction in the Official cash interest rate to 2.5% the lowest level since 2011 which has reignited buyer demand and interest. The investor market is adjusting to the LVR restrictions particularly in Auckland with rent levels continuing to rise. This is assisting investors back into the market coupled with lower interest rate levels”.
The top three businesses in New Zealand were Ray White Remuera, Ray White Ponsonby and Ray White City Apartments, these businesses combined completed $129 million in sales which was a record for the top businesses.
Throughout the regional areas of New Zealand – in Northland, Ray White Whangarei featured as the leading office. In the Auckland region the top three businesses were also the top three businesses in New Zealand; being Ray White Remuera, Ray White Ponsonby, and Ray White City Apartments,. The Central North Island featured an outstanding sales month by Ray White Hamilton, Ray White Rotorua and Ray White Te Awamutu. Ray White Wanganui was the leading office in the Lower North Island region. The Upper South Island featured Ray White Richmond as the leading business. In Canterbury, Ray White Metro, Ray White Rolleston ad Ray White Unlimited were the top three businesses. In the Lower South Island, Ray White Dunedin, and Ray White Invercargill, had very successful sales month while Ray White Wanaka continue to build on their continued high-performance results.
The top Commercial Office for Ray White New Zealand was the team from Ray White Commercial Tauranga.
The Ray White Group opened five new offices in the final quarter of 2015 these included – Ray White Te Puke, Ray White Takapuna, Ray White Patumahoe, Ray White Rangiora and Ray White Halswell. The first new office to open in 2016 will be Ray White Devonport late in January.