Usually a low-gear month for the residential property market, January 2007 appears set to buck the trend with Ray White Real Estate New Zealand reporting its best ever January sales on record – a 61% rise on last year’s result.
Tuesday, February 20th 2007, 8:25AM
by The Landlord
Auckland’s sales total increased 90% on January last year – a record result that was led by the Pinehill office on Auckland’s North Shore. Pinehill was the company’s top-selling office in New Zealand, with over $18 million in trading.
The lower South Island also had a strong month, led by Invercargill completing 55 sales. In Christchurch the results were collectively up by 45% – with the Canterbury group turning over $75 million in property sales.
Ray White’s Nelson office led the upper South Island, while across the Cook Strait the lower North Island was topped by an outstanding result from Wanganui, which listed 51 properties and $4.8 million in trading.
The central North Island was led by Hamilton City with 62 sales, and in Auckland, city apartments completed 33 sales. South Auckland’s Papakura office totalled $8.3 million in property sales for the month.
The Northland district was led by strong sales results from Snells Beach.
Ray White CEO Carey Smith says, “Rather than exceptional performances by a handful of regions, it’s the group’s overall results across New Zealand which accounts for the outstanding month, particularly when you consider that January is still only 70% of a normal month’s trade”.
Smith said the group’s stock levels are up 16%. “Having got off on a good foot, we’re expecting an exceptional year.”
