The Ray White Group saw a slight rebound for property sales during November 2010. While sales turnover was 23% down on November 2009, there was an increase of 9% on last month’s trading. The controlled listings, which includes auction and exclusive listings, were up 22% on last month and showed an increase of 11% on November 2009 which has allowed buyers to have a broader selection of property available. The total listings secured by the Ray White Group were just over 1,500.
The number one office for November 2010 was Ponsonby with an average sale price of just over $950,000. The office completed 14 transactions with a total value of $13.5 million. The number two office was Kohimarama completing just over $11 million. The Remuera office listed 18 properties and traded $10.4 million. The Howick office in East Auckland completed $9 million to be the number four office in the Group. Mt Albert in the inner west of Auckland completed $8.3 million and had a strong listing month with 29 properties secured.
The Central North Island was one of the areas to maintain a consistent sale rate of property in comparison to last year. Hamilton City was the leading office in this zone. Papamoa and Whangamata were the next best offices. Palmerston North was the leading business in the Lower North Island. Otaki and Taranaki both recorded above average sales. The overall turnover in this region was down 31%.
The Upper South Island where Ray White holds a market share in excess of 30% saw Stoke, Richmond and Mapua all have successful trading months. Turnover was down by only 2% on the strength of increased listings.
The Ray White Group completed 951 sales across New Zealand with an average sale price of $387,000, which was 1.3% lower than last month. In comparison to November 2009 the average sale price has increased by 2.8%.
This month the group will open 3 new sales office in Auckland being Waiheke Island, Stonefields and Kumeu.
In the property management division there were 359 properties that were let during the month of November which was an increase of 14% on October 2010 and an increase of 7.4% on November 2009. The average medium asking price for rental properties was $340 per week which is an increase of 6.3% on the same period last year.