Ray White Group results for May 2016 saw a 26% lift in comparison to the sales value 12 months ago. It also showed an increase over April 2016 sales of 5%. The overall sales numbers resulted in 1,499 residential property sales, which gave a total net released turnover of just over $854 million. This result was a Group record and individual regions to also show a record included the Central North and the Lower South Island.
The total number of listings by the Group increased by 1% to 1,587. This showed the difference between the sales numbers and the listing numbers to be 88, which will give Ray White group members listing portfolios an increase for the fifth month running. The average sale price increased by 0.5% to $624,331. Ray White Inventory level on a national basis is 12.6 weeks the lowest on record.
Carey Smith, Chief Executive of Ray White New Zealand, said the May sales results continue to show the confidence of buyers and sellers throughout most of New Zealand. “While there are continued high volumes through the regional areas; Auckland sales for May were just short of a group record. Auctions again dominated the sales results with a clearance rate of 82% this was also a lift of 6% from the first quarter of 2016. The volume in the Lower South Island and the Central North was a group record.”
The investor market continues to gain momentum with the record low interest rates on offer. The rental market remains in strong demand and is allowing investors to re-enter the market with confidence.
The strength of the Auckland market continues to allow sellers who are re-buying options across other areas in New Zealand. That is assisting property sales across New Zealand, with a type of halo effect which is allowing sellers in the Auckland region to become buyers in other areas and potentially gain more equity in their re-purchase.
The top three Ray White businesses in New Zealand were Ray White Remuera, who completed $74 million in sales; Ray White City Apartments, who sold 97 properties for the month of April; and Ray White Howick, who concluded a high volume of auction sales with a total trading of $39 million. In addition to this; the May results saw twelve offices achieving personal best results, namely; Ray White Howick, Ray White Beach Haven, Ray White Ellerslie, Ray White Papamoa, Ray White Rotorua, Ray White Bayfair, Ray White Plenty, Ray White Dunedin, Ray White Te Anau, Ray White Ferrymead, Ray White Unlimited Christchurch and Ray White Merivale.
Throughout the regional areas in New Zealand; in Northland Ray White Whangarei featured as the top office and also completed just short of a personal best sales month. The Auckland region saw Ray White Remuera, Ray White City Apartments and Ray White Howick all complete outstanding months. Other offices in the top 10 to complete personal best results included Ray White Ellerslie, Ray White Papamoa, Ray White Rotorua, Ray White Manukau and Ray White Dunedin. The Central North Island has many areas that continue to show strength in sales numbers. Ray White Papamoa were number one office with $ 18 in confirmed sales while Ray White Rotorua completed outstanding sales to be the second office in this region. The Lower North Island saw strong sales by Ray White Wangaui and Ray White Lower Hutt. The Upper South Island continues to show good market strength, with Ray White Richmond and Ray White Motueka achieving good sales numbers. The Canterbury market continues to respond to high volumes, with Ray White Metro, Ray White Ferrymead and Ray White Unlimited leading the area for sales volume. The Lower South Island region achieved an area record for sales volume and this was headed up by Ray White Dunedin, Ray White Wanaka, and Ray White Arrowtown. The top commercial office for Ray White New Zealand was Ray White Tauranga Commercial.
The Group continues to have a strategic focus on customer satisfaction. This is a benchmark for engagement with our clients that allows us to increasingly lift our performance for better outcomes. Our customer satisfaction level lifted to 79, which is one of the highest levels achieved by any large corporate company. This month the Ray White Group was proud to announce the acknowledgment given by Customer Monitor in respect of the Group’s NPS score (see article).
The Ray White Group has recently announced the appointment of Steve Hansen as our New Zealand Brand Ambassador. The appointment of Steve Hansen as the Group’s brand ambassador allows for synergies across family values, collective commitment, and leadership. Please see the press release here.
Ray White New Zealand remains strategically focused on client care and continues to bring in measures to ensure the success of the Group and to continually strive to align with values and outcomes that are acknowledged by our clients.