White Paper – October 2017
The Ray White Group has just traded its best October ever with $3.9 billion worth of property changing hands across Australia and New Zealand. that’s two per cent higher than the same time last year.
The great news for our group is our sales are up year on year, and we held 10 per cent more auctions this month compared to last year too. Listings are holding steady which is terrific as others are reporting contracting conditions. We are not seeing the same landscape.
So to drill into the detail, the mighty New South Wales network recorded $1.166 billion in unconditional sales which was up slightly year on year. A special mention to the regional New South Wales network which recorded a notable lift in activity.
In Queensland, the network locked in $775 million in sales in the month and our chief executive in Queensland Tony Warland said spring selling season had been strong so far, as highlighted by the recent successful corporate auction spectacular – all encouraging signs for south east Queensland in particular.
Our Victorian network produced $665 million in sales, up $9 million year on year but our New Zealand team reported a further dip in sales to $593 million, as the fallout from the election combined with a tightness in stock continues to bite.
Western Australia came in at $86 million, a welcome $15 million higher than last October. South Australian sales totalled $139 million, also higher than last year which is great news. And our rural network also reported $135 million in sales.
Our Commercial group recorded a strong October with $245 million in sales, underpinned by a reinvigorated focus on auction marketing. The commercial team have some exciting ‘irons in the fire’ for their auction platform in 2018 too. Our new commercial brand also went live last month and it’s great to see it in the market.
Our customer satisfaction program also had a record month – we had our highest response rate to date in october. Ray White Remuera was the top office with an NPA of 88, and an astonishing 51 per cent response rate. Justin Hartley of Ray White Pegasus (pictured here) was the standout individual agent In the month when it comes to his enviable NPS score of 98 with a fantastic 88 per cent response rate.
Loan Market lodged $1.254 billion in loans in October, with $777 million in approval granted. Loan settlements were up a solid 11 per cent year on year to $789 million in October.
At the end of October we held our annual elite conference which saw 160 of our best performers gather on Hamilton Island to share ideas and network with their peers across Australia and New Zealand.
The delivery of value to all our Elite members is perhaps our most important measure.
The program explored so many areas upon which our Elites can continue to develop themselves and their teams to even higher levels.
This month we welcomed Rita Galati to our group.
She is an experienced auctioneer and the proud new owner of Ray White Yarraville, in Melbourne’s inner west.
And finally congratulations to the team at Ray White Double Bay who ticked over their 30 year milestone with our group. Congratulations to Craig Pontey, Mike Finger and Elliott Placks on such a remarkable three decades of serving sydney’s eastern suburbs community. I look forward to celebrating with them at their upcoming 30th birthday party.
And we always seem to say it, but we are fascinated with what this November may bring. As always, it’s shaping up to be a fantastic lead up to Christmas.