Archive for the ‘real estate comments’ Category

Please click here for CEO Comments that are now posted for January 20, 2012

Past comments are filed here under Previous Comments.

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2011 has been a year of spectacular growth for the Ray White Group. We have welcomed a new office every 10 working days; culminating in 20 new businesses joining and starting up across the country. We have also effectively had 10 new business owners purchase existing Ray White offices.

Our Group stands at 131 offices with just over 1,180 salespeople, 220 property managers and 145 administrators. This year our sales turnover increased by 12%, which saw us transact $3.895 billion in property sales. Our property management portfolio has grown beyond 14,000 and our market share, particularly in the last quarter, has shown good growth across many of the areas we trade.

The number of sales that will occur within the industry will be 58,000 for the year and will be in line with 2010. The amount of property that has been marketed for sale has dropped by 10% during the year. This has effectively resulted in lower days on market and price increases across most centres throughout New Zealand. Productivity levels for our top 20 businesses increased by 23.8%. There was one interest rate reduction of .5% in March. The official cash interest rate has remained at 2.5% during 2011 and is expected to remain at the same level throughout 2012.

During the year we remained committed to the three pillars of our business growth, being marketing, personal skills and growth. Our marketing platform has seen us redesign our online presence and we have applied a number of superior applications which sees us continue to lead the industry.  Personal websites were also introduced during the year.  We have rebranded our marketing through the media to present further enhanced property presentation. This is now fully integrated with all publishers.

The growth of the company has been evident with the number of new offices that have joined and there have also been several high profile salespeople join Ray White from other companies.

Within this year’s Christmas message we make reference to the significant events that occurred in 2011 throughout New Zealand. To our people and their communities who have been affected by these events, we pay tribute to you.

Our Group will finish the 2011 year in very good shape. The industry continues to polarise.  The significant reinvestment that is required to be a leader in this market is our commitment. 2012 will be a year of continued growth as we enable our plan for genuine leadership.

On behalf of the Ray White corporate team and the White Family, we wish all of our members and their families a relaxed Christmas break and look forward to a successful 2012.

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The real estate market continues to show improved signs for all sectors within property sales on the strength of the continued low Official Cash Rate of 2.5%, steady immigration numbers coming toNew Zealand linked with the recent election that saw the National Party return to government with an increased majority.

Prices have continued to firm, particularly across Auckland where the average sale price has lifted during the past two months and is now $475,000 which is a lift since the beginning of the year of just under 4%. The numbers of sales also across Auckland have remained consistent during the past three months to be just below 2,000 per month and we expect this trend to continue throughout the final months of 2011 and during the first quarter of 2012.  What has been of interest is the increasing amount of property that has been marketed by auction, which is at a record high of 26.4%. Across New Zealand the sales numbers have also remained just above 5,000 per month and the average sale price has increased from $340,000 at the beginning of 2011 to $359,000 in October 2011.

It is now forecast that the Official Cash Rate will remain at 2.5% at least until September 2012. This will continue to give confidence to first home buyers and investors and this in turn will keep the market remaining active in the second and third home buyer areas.

The recent capital valuations received by property owners throughout Auckland are a definite reflection of the continued activity that has occurred in certain areas of Auckland and also those properties within the $500,000 to $1 million price bracket.

The outlook for property prices over the next period remains strong; with lower days on market and an active buyer pool this should continue to drive sales across all markets.

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Wellington City Real Estate Ltd has this week joined Australasia’s largest real estate group, Ray White. The office located in Taranaki Street is an award winning office under the leadership of business owner Vicki Collins.

In making the change to Ray White, Vicki said “The Ray White Group provides industry leading technology and gives us the ability to be able to communicate successfully with our community. Our office has a team approach to our real estate success and in our considerations of partnering with Ray White; we made the decision that in offering the finest service to our clients that we would also offer Australasia’s leading real estate brand.”

Wellington City Real Estate Ltd has a sales team of 14. The team have consistently been awarded for their high quality service and this is reflected in the number of sales they  achieve throughout the marketplace.

Carey Smith, Chief Executive of Ray White New Zealand, said that in welcoming Vicki that her team approach to real estate was certainly a successful model. “There is a good mixture of youth, enthusiasm and experience which now makes up the dynamic team for Ray White in Wellington City.” He also said that Vicki’s leadership and drive for success is widely recognised and that transfers to her business as she sets the highest standards for her office.

 Ray White Wellington City provides services in residential sales, property management and commercial leasing. Their office website provides information on their current listings, properties available for rent, investment properties and information on preparing your home for sale and details of the Wellington City area.

For further information please contact Vicki Collins on 0275 389 574  or visit their website at rwwellingtoncity.co.nz.

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Ray White Hamilton City officially opened last week to a gathering of close on 150 people, who celebrated Sue Hall and her business partner Richard Jacobsen opening their new Ray White office on Mill Street. During the evening there were a number of speeches held which reflected on where the business was today in such a short period of time.

The Ray White Hamilton City office now has over 40 listings and has completed eight sales in its first month of trading.

Sue Hall, the co-owner of the new Hamilton City office, said that it was a proud moment for her to have many of her friends and clients attend the opening of the new office. She went on to say there has been great confidence from her existing clients to support the business and this has resulted in a new property listing being taken every day for the office. She also commented that to have the support of her business partner and six experienced salespeople already was ahead of her expectations.

Carey Smith, Chief Executive of Ray White New Zealand, said that the new Hamilton City office was a watershed moment for the Group. “Sue Hall is one of the highest achieving individual salespeople in New Zealand and to have her on board with Ray White will not only give a great lift to our company but also to her new office.”

To see the opening night speech from Carey Smith, please click here.  Information regarding the new Hamilton City office can be seen at rwhamiltoncity.co.nz.

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The recent activity in the Northland region for Ray White has seen the Group grow to be the largest in the region. In Dargaville, the Ray White Group is pleased to announce the opening of their latest office with Jean Johnson Realty Limited.

 The office is in a high profile location that was previously trading with another group. Jean Johnson herself is a leading salesperson in the Dargaville region. Having traded in the area for close to 20 years, the office has grown to have a market share of close to 50% and Jean has been acknowledged as the leading salesperson in the Northland region through the REINZ on two occasions during the past five years.

Dargaville is located 55 kilometres south-west of Whangarei and has a population of approximately 4,500.  The area is known mainly for Kauri logging together with being a hub for many significant transport businesses.

Jean Johnson Realty also undertakes property management and has one of the largest rental portfolios in the region.

Jean Johnson, owner of the business, said that her and her team are very excited about the move to Ray White. “The Group’s presence, the technology and the marketing were the standout reasons as to why we have decided to change brands and join Ray White.  It will give us a true coverage locally, nationally and internationally.”

Sarah Pearce, Growth Executive for Ray White New Zealand, said “Jean Johnson joining our group adds further to our Northland strength. Jean’s business is one of the leading offices in Dargaville and her belief in personal service and commitment to results fit perfectly with Ray White.”

The office has been rebranded and the commencement date is 3^rd November 2011.  The office website is rwdargaville.co.nz and Jean can be contacted at jean.johnson@raywhite.com.

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The Ray White Group is pleased to welcome our 131^st office, with the re-branding of Allens Tutukaka to Ray White Allens Tutukaka. The office is the only real estate agency in the Tutukaka and Ngunguru region and has been trading for just over 7 years.  The office holds almost 70 percent of property available within the region.

Leading salesperson, Peter Vink, said the Tutukaka Coast is a special location that has always had a high attraction particularly for Aucklanders, being just under two hours in travel and providing a relaxing family environment to enjoy. In regards to the re-brand to Ray White Allens, Peter said the marketplace had already reacted positively and that he personally saw opportunity for his buyers and sellers to utilise the Ray White marketing system, both online and through print media, to attract more awareness about the Coast and the property available.

The Ray White Allens Tutukaka office is part of Goode Leith Realty Limited. Peter Vink and Chris Windust are available to be contacted on 09 434 3034, with their properties being displayed through their local website rwtutukaka.co.nz.

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The Ray White Group is pleased to announce the joining of  Goode Leith Realty Limited trading as Allens in Whangarei, Bream Bay and Tutukaka Coast. This is one of the biggest independent networks in New Zealand to join the Ray White Group and will be known as Ray White Allens. For full details and a press release on the move of Allens to partner Ray White please click here.

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Ian and Rachel Grindle have announced Rodney Fong as their new partner in the Ray White Tauranga office. The office has recently relocated to new premises on The Strand in Tauranga and this was in part due to the growth that the business has experienced and also in line with the new partnership.

Rodney Fong joins Ray White Tauranga from a high sales performing career with LJ Hooker Tauranga.  Rodney joins the Grindles’ on the basis of seeing the growth and the opportunity within the real estate industry for ownership. Rodney made comment that it has always been part of his desire to be in ownership and it comes as a great opportunity to be able to join Ian and Rachel in the Tauranga office.

Ian Grindle said that having the youth and enthusiasm of Rodney on their team was great. “He also brings with him additional skills in auctioneering and high profile marketing.”

Carey Smith, Chief Executive Ray White New Zealand, said “The combination of Ian and Rodney together would be a significant boost for the Ray White Group profile in Tauranga.  Rodney’s skills in the auction arena are first class and Ian has always been recognised as a high performing marketer. Their administration is being handled by Rachel Grindle and that provides good integration for the team.”

To see the Ray White Tauranga website please click here.

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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.

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