Ray White New Zealand has bucked mid-winter market trends with a huge 32 per cent jump in listings throughout July.
During July, Ray White saw $1.124 billion in completed sales, an increase of 18.4 percent compared to the same month last year. The total number of completed sales also surged 12.8 per cent to 1,230 for the month.
“There has been much speculation by commentators with respect to market conditions that have been suggested to be in the doldrums,” Ray White New Zealand chief executive Daniel Coulson said.
“It has been interesting to consider some of the different messaging, from school holidays, to economic woes and interest rates, to a ‘winter market’ – and all variations of the above sentiment.
“Yet despite all of these factors, our collective turnover is 18.4 per cent higher and, except for 2020, we had our strongest July in terms of listings in recent memory.
“To be frank, there is plenty to be positive about from a property perspective. The CCCFA amendments came into force yesterday, LVRs were adjusted at the beginning of July and interest rates are now widely expected to continue their downward trajectory as the year goes on.
“Even among all the mixed messaging, this month’s results show us that there are buyers and sellers that are genuine about both entering and exiting the market for various reasons.”
Yesterday, Ray White Manukau, Manurewa, Mangere and Mangere Bridge held the fifth instalment of their auction event The Day, where 46 properties went under the hammer, equating to more than $22 million in sales.
“This is a formula which now has become a cornerstone of their business and marketing calendar,” Mr Coulson said.
“The business has made a statement of market leadership and importantly a platform that allows them to create their own conditions.”
“A healthy 57 per cent were sold under the hammer worth a combined value of more than $22 million (with more selling overnight), more than 264 registered bidders and in excess of 1,000 bids placed.”
Ray White New Zealand will hold its national collective auction events during September, the Month of More.
Mr Coulson congratulated Ray White New Zealand’s top businesses for the month of July.
“A hearty congratulations to our top 10 businesses this month – a group of businesses who have collectively posted results 52 per cent higher than those same businesses recorded last July,” he said.
“Ray White Remuera is our number one business in July, followed by Manukau, Howick, Mount Eden and Whangarei.”
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Media contacts:
Daniel Coulson
Chief Executive
Ray White New Zealand
+64 21 776 668
dcoulson@raywhite.com
Cassandra Glover
Senior Media Advisor
Ray White Group
+61 447 000 472
cglover@raywhite.com