The New Zealand Ray White Group for the month of October 2010 saw turnover reduce by 23% on the previous year, with trading at approximately $300 million. Other key indicators saw controlled listing stock up by 13% and auctions increase by 5%; days on market extended to 41 and the current numbers of property on the market increased by 4% to just over 14,500.
Throughout the regions – the Northland zone had a quieter month, with turnover down by half. Year to date in the Northland area listing stock is up by 8% but turnover is down 15%. A small decrease in the Auckland region of 7% in comparison to 2009; listing stock was down by 30% and year to date overall turnover is down by 13%. The Central and Lower North Island had identical numbers, with turnover being down 45% on last year. The controlled stock is 1% up in both areas while auction numbers are down by 5%. There were mixed results throughout the South Island. The Upper South region recorded a small decrease of 6% in trading however their listing stock was up substantially, almost doubling the numbers that were listed at the same time last year. In Canterbury numbers continued to be affected by the earthquake, with results being down 40% and listing stock reduced by 24%. The Southland region had an increase of over 50% and their controlled listings also increased by 19%. Across the nation we have 134 offices with 1,282 salespeople.
New offices during the month of October included Ashburton and Methven and in Canterbury Christchurch City Living.
The Ray White Group expects to open its 135th office in Stonefields which is located in the inner-east of Auckland.