Archive for the ‘market review’ Category

The Ray White Group saw a reduced number of sales for May 2010 of 18% in comparison to the May results in 2009.  In comparison to last month, property sales fell by 9%. 

The top office for the month was Manukau  who completed close to $20 million in sales turnover and listed over 160 properties for the month. Ponsonby were No 2 with Remuera, Albany and Howick featuring as National Top 5 businesses.  Offices that achieved the highest zone area increase included Mangawhai, Hamilton City, Palmerston North, Motueka, Christchurch Commercial and Queenstown. Our marketing presence increased by 18% and this is measured on the overall presence in key media throughout New Zealand. 

The lower volume of sales is attributed to the budget announcement and a general lack of confidence in the investment sector of property. The results in the listing stock saw an increase from 12 months ago of 18%  and ahead by 3% on April 2010.  The number of new listings linked to the lower level of sales volume continues to show a consistent market for buyers and for sellers.  Days on Market are expected to increase while available proeprty levels grow. The Ray White Group results were better than the industry with reporting from realestate.co.nz which has shows in their Property Report for May 2010 that listings fell by 4% to 11,733 from last month and from the same time last year increased by 17%.

The Ray White Group in New Zealand has had 3 new offices opened during the past month. The new offices are Wanganui and Kapiti in the Lower North Island with Sandringham opening in Auckland. The Group now has 134 Offices with 1408 Salespeople and 184 Property Managers.

Ray White Herald on Sunday Lift Out

The Ray White Group is pleased to present, in conjunction with APN, our 48 page property lift-out that will be appearing in the Herald on Sunday this weekend 30th May 2010. This is the sixth of our feature lift-outs and has 130 properties displayed on behalf of our vendor clients throughout New Zealand.

Alongside the lift-out we present the Ray White e-book  which is available for our agency business and their clients to distribute through to databases, family and friends.  Ray White prides itself on its ability to provide innovation in marketing and also to offer value through its various marketing mediums, including media, websites, property signage and our own internal client databases.

The Herald on Sunday is the leading Sunday media and is distributed throughout the North Island with a readership of over 382,000. We welcome all enquiries to be part of these outstanding marketing opportunities.

We are pleased to advise the cover of our upcoming lift out of the NZ Herald on Sunday edition to be publish on Sunday the 30th of May 2010.

The cover is taken from Milford Sound in the South Isalnd of New Zealand. Please click here to view the cover.

The Ray White Group has 14 offices in the Central Auckland zone and this group of business owners meet every fortnight to discuss their collective marketing and their drive to gain market share in their respective trade areas.  The past 12 months has seen our Central market share lift and this has been on the back of increased marketing through ACP and APN, together with new offices in Royal Oak, Mt Eden Village and just opened in Sandringham.  Last Friday we released our first 1/4 market share results and the Group now has 16 trade areas above 25%.  The following areas show where Ray White has market share above 25% in the central area of Auckland.

These collective markets total $1.65 billion and for the Ray White Group this is an increase in real terms of 15%.  The largest market in Auckland for sales numbers is Auckland Central and takes in all of the city apartment market where Ray White City Apartments is considered to be the market leader.  For the month of April 2010 the Ponsonby office completed in excess of $20 million in sales with the Kohimarama and Ellerslie offices featuring in the top five national Ray White offices.

Ray White has developed real time market information for buyers and sellers across all areas of New Zealand.  Each Ray White office has access to this information and it can be provided on request.  Ray White has 133 offices throughout New Zealand with 1,345 salespeople and 183 property managers.  To request real time market information please email swatson@raywhite.com

The sales figures released by the NZ Real Estate Institute for February 2010 showed that 5,029 properties were sold during the month.  This figure was the lowest for February sales reported since data began being taken in 1992.  In comparison to the February sales in 2009 it was a further decline of 3.8%.  These numbers were not consistent with the Ray White group which showed February sales increased by 9.7% in comparison to the previous 12 months. 

There may be two factors which play a part in the above differences that being the increased marketshare that the Ray White has shown in the past 12 months together with the questions of the potential accuracy of the NZ Real Estate Institute statistics.  February traditionally is one of the stronger months for sales and for our group it has been the third or fourth most active month for sales in the year.  Beyond the actual sales volume number, controlled listings increased substantially by 41% on the previous 12 months.  The New Zealand Property Report released by realestate.co.nz for February showed that there was a 5000 property increase – 33% in listings across their website during February. 

In addition to this the Real Estate Institute have produced their seasonally adjusted sales figures which shows sales have fallen to an 18 year low with the total sales being 53,540.

The Ray White group see the continued polarisation from an industry point of view with these continued figures halting any potential revenue increase for individual agencies.  Marketshare and dominance of property sales will be important to the vendors as they choose their agency in potentially more challenging market conditions.  The Ray White group are proud to be able to offer to vendors real time market reports for every area across New Zealand.  These reports detail the numbers of sales, turnover, days on market, and price differences.  This can be also provided and split into housing and units.  These are available from the 132 Ray White offices across New Zealand.

Lesley Hawes, of Ray White Kingsland, says: “The last three months of 2009 were remarkably good, with excellent sales numbers and results for our owners. Most of the properties had multiple offers on them and the popular theory among the media was that a recovery/boom was occurring. In my opinion, this was definitely not so. The apparent lift in the sales volume and shorter days on the market were caused, quite simply, by a lack of supply.”

This is the  Ray White Market Report for Kingsland, Arch Hill and Eden Terrace

Hawes has been in real estate for 16 years and with Ray White for 12 of those. For the past six years, she has been helped by her daughter Ruth and they cover city fringe suburbs, selling about 100 properties a year priced from $200,000-plus to $2.3 million.

Hawes adds: “Naturally what has happened since Christmas is that the good news has spread; house owners have become interested in selling again because of the excellent results achieved in late-2009.

“My prediction is ‘steady as she goes’ for the next three months, with plenty of choice for buyers and still very reasonable interest rates.”

The Ray White Group has been in continued development of producing information for our own members that allows them to gain insights into the property market that will assist home owners in the marketing of their property. 

The ongoing development of this information has now seen our company being able to produce statistical data that can be directly applied to property in any area across New Zealand.  The grouping of this data includes price banding by percentage, the number of sales occurring in each suburb by sectors, the number of days on market, also the price differential between the listed and selling prices.  These are all important identifiers when you are considering the various concepts of marketing and also the buyer pool. 

Each Ray White office has access to provide this information to you. In our weekly updates we will be providing a suburb overview that gives you an indication of the current activity in various areas across New Zealand. 

This week we look at information coming from the inner west area of Ponsonby.  During 2009 there were 113 house sales with an average price at $957,409 with a further 25 unit sales at an average price of $451,945.  The best time of the year to sell houses is in April and October.  In 2009 the highest level of sales occurred in the price band between $600,000 and $800,000, totalling 44.   Ponsonby is one of the few markets that shows an upward lift in the sale price to the listed price.  This is mainly due to the fact that there is higher buyer competition and that many properties are submitted to the auction concept in this area.  Days on market continue to decrease, with the last quarter of 2009 showing 32 days for houses and 19 days for units. For the full market report on Ponsonby please click here Ponsonby Market Data Report 

For further information regarding this report please contact Ray White Ponsonby on (09) 376 2186 or email Simon Damerell  simon.damerell@raywhite.com 

To request a market review for your area, please leave a comment or contact your local Ray White office.