FRANCHISE NEWSNationalReal Estate News

Ray White Feb results rises by four percent to $3.44B compared to same month last year

Ray White Group’s total sales of dwellings for this February has risen by four percent or $3.44 billion as compared to the same corresponding month last year.

Ray White chairman Brian White AO in a statement said the company’s franchise in New South Wales (NSW) and Victoria achieved the best for performance in February, reaching $1.13 billion and $526 million in sales, respectively.

He said NSW result this February had risen by 16 percent while Victoria saw a 5 percent increase more than February 2016.

“Rarely has there been such conjecture in public commentary about the prospects for the real estate market in 2017, so we awaited our February results with more than usual interest.

“Our result for February was a slight increase over last year which, as many will remember, was a great market. Our sales numbers were only slightly behind 2016 with the factor of increased values – particularly in Sydney – having a positive impact.

“Most markets were similar to last year, but Western Australia is still experiencing a lack of confidence,” White said.

Brian White

As for New Zealand, the final touches of the Leaders Real Estate Group offices onboarding to Ray White happened in February.

A total of 15 central offices and seven branches migrated over to the Ray White brand which now sees the whole of its New Zealand network moved to 156 offices with an expected turnover of $11.2 billion per year.

White also said that throughout February, 11 new businesses joined the franchise across Australia.

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June Ramli

June Ramli was a in-house journalist for Elite Agent Magazine.